Fortune Oil Allotment and Issuance of China Gas Holdings Limited Shares

Fortune Oil Allotment and Issuance of China Gas Holdings Limited Shares

Pursuant to the Company’s announcement headed “Election of China Gas Holdings Limited Shares for Settling the Second Cash Consideration” dated 21 November 2013, Fortune Oil submitted its Share Election Notice to China Gas, requesting that the Second Cash Consideration of USD200,000,000 be satisfied by China Gas allotting and issuing a total of 184,119,463 new shares of China Gas (the “China Gas Shares”) to the Company (or any of its subsidiaries).

Fortune Oil is pleased to announce that the listing permission for the China Gas Shares (the “Listing Permission”) has been approved and, accordingly, the China Gas Shares have been allotted and issued pursuant to the Share Purchase Agreement.

The 184,119,463 China Gas Shares represent approximately 3.69% of the enlarged issued share capital of China Gas immediately after the issue of the China Gas Shares (the “Enlarged Issued Share Capital of China Gas”). At the date of this announcement, China Gas Group Limited holds 732,446,000 China Gas shares, representing 14.69% of the Enlarged Issued Share Capital of China Gas. China Gas Group Limited is owned as to 50% by Fortune Oil PRC Holdings Limited, one of the Company’s wholly-owned subsidiaries. Accordingly, after the issuance of the China Gas Shares, Fortune Oil will be deemed to hold a total of 18.39% of the Enlarged Issued Share Capital of China Gas.

Source: Fortune Oil

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