21st May 2013 07:00
AUHUA CLEAN ENERGY PLC
("Auhua" or "the Company")
Update on Director's proposed share dealing
Auhua Clean Energy plc, the AIM quoted (AIM: ACE) environmental technology group based in the Shandong Province of China, is pleased to provide an update on the announcement it made on 30 April 2013. On 30 April 2013 Auhua announced that Auhua Holdings Limited, one of its substantial shareholders, had signed a binding term sheet to sell 15,891,250 shares in the Company (representing 25% of the Company's issued share capital) to Byte Power Group Limited ("BPG") for a price equivalent to 25p per share, a premium of approximately 13.6% to the closing midmarket share price on 29 April 2013.
BPG announced on 20 May 2013 that it has satisfactorily completed its due diligence of Auhua and that it has started the preparation of a Sales and Purchase Agreement which it expects to be ready for execution by early June 2013 at which point it will be able to anticipate the completion date of the transaction.
Further Enquiries:
Auhua Clean Energy plc www.auhuacleanenergy.com
| Raphael Tham Chairman
| Tel: +65 9768 6046 |
Northland Capital Partners Limited | Edward Hutton Lauren Kettle
| Tel: +44 (0)20 7796 8800
|
Cardew Group | Shan Shan Willenbrock Lauren Foster
| Tel: +44 (0)20 7930 0777 |
Notes to Editors:
Auhua Clean Energy is an environmental technology group based in the Shandong Province of Eastern China specialising in the development and application of green energy and energy efficient solar water heating solutions. In particular, the Group is focused on the manufacture and sale of solar energy water heating systems.
Auhua Clean Energy operates through its wholly owned subsidiaries Shandong Auhua New Energy Co., Ltd and Weihua Auhua New Energy Co., Ltd., of which Auhua Holdings Pte Ltd is the intermediate holding company.
Related Shares:
ACE.L