Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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China New Energy Ltd (CNEL)

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Monday 27 June, 2011

China New Energy Ltd

Contract Update

RNS Number : 1971J
China New Energy Ltd
27 June 2011
 



27 June 2011

China New Energy Limited

("CNE" or the "Company" or the "Group")

 

Ubon Bio-ethanol Company Ltd Contract Update

 

China New Energy Limited (AIM: CNE), the engineering and technology solutions provider to the bioenergy sector, is pleased to provide an update on the Company's contract with Ubon Bio-ethanol Company Ltd ("Ubon"), as described in the Admission Document, including the receipt of RMB 7.7 million (c. £0.74 million) as an initial deposit and the application for a loan to finance material procurement costs.

 

CNE's wholly owned subsidiary, Guangdong Zhongke Tianyuan New Energy Science and Technology Co. Ltd ("ZKTY") entered into contractual agreements on 13 April 2011 to sell products and services to Ubon Bio-ethanol Company Limited in the Ubon Ratchathani province of Thailand, for a cassava-based ethanol project which is intended to produce up to 400,000 litres per day of edible ethanol or fuel ethanol. 

 

The amount due to ZKTY, under its agreement with Ubon, currently totals RMB 77 million (c. £7.45 million). The Company has received RMB 7.7 million (c. £0.74 million) as an initial deposit and has completed the engineering and design stage of the project. In addition, the Company is pleased to announce that it is currently negotiating to provide further products and services to construct additional auxiliary facilities for the project.

 

ZKTY has applied to China Merchants Bank Beijing for a loan of RMB 20 million (c. £1.93 million) with a proposed tenure of six months at a rate of 7.03 per cent per annum. Principally the purpose of the bank loan is to finance material procurement costs for the Company's contract with Ubon to allow the Company to fabricate equipment and for shipping to Thailand. This loan is supported by the Letter of Credit from Ubon, which guarantees the next payment once the shipments have been made.

 

The Company expects negotiations with Ubon over the total fee for the project to be completed shortly. It is anticipated that the project will be completed by the end of this year barring any unforeseen circumstances. Furthermore, the Company expects the Ubon project to contribute significantly to the Group's income this year.

 

Enquiries:

 

China New Energy Limited

http://www.chinanewenergy.co.uk/

Richard Bennett

+ 44 (0)20 7148 3148 or rbennett@zkty.com.cn

Cairn Financial Advisers LLP (Nominated Adviser)

Tel: 020 7148 7900

Jo Turner / Liam Murray      

 

SVS Securities plc (Broker)

Tel: 020 7638 5600

Alex Mattey / Ian Callaway

 

Walbrook PR Ltd (Financial Public Relations)

Tel: 020 7933 8780

Paul McManus

Mob: 07980 541 893 or paul.mcmanus@walbrookpr.com

Jack Rich

Mob: 07584 391 303 or jack.rich@walbrookpr.com

 

 

About CNE

CNE is a technology, process and engineering solutions provider for bioethanol and biobutanol projects focusing predominantly on the construction of ethanol production plants. Through its wholly owned subsidiary, Guangdong Zhongke Tianyuan New Energy Science and Technology Co. Ltd ("ZKTY"), the Group provides process technology, engineering designs, plant manufacturing and operational services in connection with the production of fuel ethanol, edible ethanol, biobutanol, bioacetic acid and other chemicals from agricultural plant materials and waste.

 

ZKTY provides its services to primary producers and users of bioenergy and the Group's activities are principally based in China. However, it also provides services to overseas customers in areas including Romania, Taiwan, Russia, Thailand and Indonesia.

 

ZKTY has an established track record having advised on 88 projects globally with an aggregate production capacity of approximately 9.0 million tonnes per year and a total contract value of approximately RMB1.5 billion. ZKTY has proprietary and patented bioenergy technology, and maintains its own research and development laboratory to further develop its technology and patent portfolio.

 

CNE listed on AIM in May 2011, raising £655,201 at 7p per share. The market capitalisation of the Company at the Placing Price on Admission was £20.8m.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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