China New Energy Ltd Statement re Share Price Movement (6847J)
September 13 2016 - 6:12AM
UK Regulatory
TIDMCNEL
RNS Number : 6847J
China New Energy Ltd
13 September 2016
13 September 2016
China New Energy Limited
("CNE" or "the Company")
Movement in Share Price
The Board of CNE (AIM:CNEL), the AIM quoted engineering and
technology solutions provider to the bioenergy sector, notes the
recent movement in the Company's share price and the press coverage
relating to a project in West Africa and bulletin board
speculation.
As previously stated, CNE is seeking to develop business
opportunities in Africa. To further this goal, CNE has recently
entered into an agreement with a consortium of investors
("Consortium") whose objective is to negotiate the acquisition of a
specific project in Africa. The ongoing negotiations are
confidential. However, the Consortium has incorporated a special
purpose vehicle, and should the acquisition of the project be
successfully concluded, the Company would have the option to
acquire a minority investment of less than 5% in the special
purpose vehicle. CNE is supporting this transaction as a normal
part of its activities with the expectation that it will have the
right to bid for technology and service contracts with the
Consortium should the acquisition be successful.
Whilst the negotiations are at an advanced stage, there is no
certainty that the acquisition will complete or that CNE will be
successful in tendering for technology and service contracts with
the Consortium if the acquisition does complete.
The Company will provide a further update to the market in due
course.
For further information, please visit www.chinanewenergy.co.uk
or contact:
China New Energy Limited www.chinanewenergy.co.uk
Richard Bennett Tel: +44 (0)7966 388 374 or rbennett@zkty.com.cn
Ivy Xu Tel: +86 (0)20 8705 9371 or xuhj@zkty.com.cn
Cairn Financial Advisers LLP Tel: +44 20 7148 7900
(NOMAD)
Jo Turner / Sandy Jamieson
Daniel Stewart and Co (Broker) Tel: +44 20 7776 6550
Martin Lampshire
This information is provided by RNS
The company news service from the London Stock Exchange
END
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