Exercise of Share Options

RNS Number : 4014G

Green Dragon Gas Ltd

11 May 2011

 



11 May 2011

GREEN DRAGON GAS LTD

("Green Dragon" or "the Company")

Exercise of share options

Green Dragon Gas Ltd. (AIM:GDG), one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, announces that following the exercise on 9 May 2011 of employee share options at an exercise price of US$6.50 per share, application has been made by Green Dragon for a further 1,953,125 ordinary shares of US$0.0001 each in the Company ("Ordinary Shares") to be admitted to trading on AIM.  All of the Ordinary Shares issued pursuant to the exercise of the options were placed on 9 May 2011 with funds managed by an institutional investor at a placing price of US$12.80 per share.

Included in the option holders referred to above were certain Directors of the Company: Stewart John, David Turnbull, and Gong Dabing acquired and placed 135,000 Ordinary Shares each; and Randeep Grewal acquired and placed 1,150,625 Ordinary Shares.  Accordingly, following the placing, there is no change in the number of issued Ordinary Shares in which such Directors are interested.

It is expected that the new Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares, will be admitted to trading tomorrow.  Following the issue of the new Ordinary Shares, Green Dragon will have 134,701,711 Ordinary Shares in issue and the same number of voting rights (no Ordinary Shares are held in Treasury).

For further information on the Company and its activities, please refer to the website at www.greendragongas.com or contact:

Stephen Hill / Betty Cheung Green Dragon Gas	[phone]
Dr Azhic Basirov / David Jones Smith & Williamson - Nomad & Broker	[phone]
Tim Redfern / Anu Tayal / Adam James Evolution Securities - Broker	[phone]
Paul Connolly / John Dwyer / Steve Baldwin Macquarie Capital (Europe) - Broker	[phone]
Judith Rawnsley CLSA -Broker	[phone]
Philip Dennis / James Henderson Pelham Bell Pottinger - Investor Relations	[phone]

 

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