China New Energy Ltd Result of EGM (8664Q)
October 23 2019 - 5:35AM
UK Regulatory
TIDMCNEL
RNS Number : 8664Q
China New Energy Ltd
23 October 2019
23 October 2019
China New Energy Limited
(the "Company" or "CNE")
Result of EGM
The Board of CNE (AIM:CNEL), the AIM quoted engineering and
technology solutions provider to the bioenergy sector, announces
that, at its extraordinary general meeting held earlier today, all
resolutions were duly passed.
As previously announced, the Company is progressing its
application ("Listing Application") to The Stock Exchange of Hong
Kong ("Hong Kong Stock Exchange") for its share ("Shares") to be
traded on the Main Board of the Hong Kong Stock Exchange ("Hong
Kong Listing") and the resolutions put before shareholders were in
respect of the Listing Application. Shareholders have approved,
subject to the Hong Kong Listing occurring within three months of
the passing of resolution 7, the cancellation of admission of the
Shares to trading on AIM ("Delisting") pursuant to Rule 41 of the
AIM Rules for Companies.
The Hong Kong Listing is subject to, among other things, the
approval of the Listing Committee of the Hong Kong Stock Exchange
("Listing Committee") and may be affected by a number of factors
including the related share offering and market conditions. If
these conditions are met, the Delisting will be effective on the
first day of dealing in the Shares on the Hong Kong Stock Exchange.
The expected dates of the Delisting and the Hong Kong Listing are
subject to change. Once the date of the Hong Kong Listing and date
of the Delisting are confirmed, the Company will make an
announcement regarding such dates as soon as practicable.
There is no certainty when or if the Listing Application will be
approved by the Listing Committee. As such, there can be no
certainty at this stage that the Listing Application will be
successful. The Company is committed to remaining public and for
the Shares to be traded on an internationally recognised stock
exchange. The Company will keep the market appraised of
developments with the Hong Kong Listing and the Delisting during
the course of the Listing Application.
If the Listing Application is successful, the Company will
notify shareholders at least 10 business days prior to the date of
the Hong Kong Listing and Delisting to allow shareholders the
opportunity to sell their shares or to consider the options set out
in the circular of 2 October 2019 in respect of the arrangement put
in place by the Company for shareholder to deal in the Shares in
Hong Kong after The Hong Kong Listing.
In passing resolution 3, shareholders approved the cancellation
of 46,808,809 ordinary shares held by the Company in treasury. As a
result of the passing of the resolution 3, the issued share capital
of the Company will comprise 444,447,541 ordinary shares of 0.025
pence each. No further shares are held in treasury at the time of
this announcement. The total voting rights in the Company are
therefore 444,447,541.
The above figure of 444,447,541 may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
China New Energy Limited
Ivy Xu xuhj@zkty.com.cn Tel: +86 20 8705
Richard Bennett 9371
rbennett@zkty.com.cn Tel: +44 7966
388374
Cairn Financial Advisers LLP Tel: +44 20 7213 0880
(Nomad & Broker)
Jo Turner / Sandy Jamieson
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contact rns@lseg.com or visit www.rns.com.
END
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October 23, 2019 05:35 ET (09:35 GMT)
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