TIDMCNEL
RNS Number : 4438R
China New Energy Ltd
30 June 2020
30 June 2020
China New Energy Limited
(the "Company" or "CNE")
Publication of Prospectus and Global Offering
The Board of CNE (AIM: CNEL), the AIM quoted engineering and
technology solutions provider to the bioenergy sector, is pleased
to announce that on 30 June 2020, the Company has published its
prospectus ("Prospectus") in respect of the proposed listing of its
securities on the Main Board of The Stock Exchange of Hong Kong
Limited ("HKEx"), representing an important milestone in the
Company's proposed application for admission to the Main Board of
HKEx ("Admission"). Admission remains subject to the final approval
from HKEx.
The global offering ("Global Offering") of the Company's shares
will be made by way of a Hong Kong public offering and
international placing with the price range for new shares set at
HK$ 0.98 (approximately 10.3p) to HK$ 1.28 (approximately 13.4p),
corresponding to an expected market capitalisation ranging from HK$
540 million (approximately GBP56.7 million) to HK$ 705 million
(approximately GBP74.0 million). The pricing of the Global Offering
is expected to be set on or around 7 July 2020.
The Company's Prospectus, which contains updated information
relating to the Company's application for Admission, has now been
published and its prospectus be viewed on the websites of the HKEx
(www.hkex.com.hk) and the Company (www.chinanewenergy.co.uk).
The Company provides further information on the proposed
timetable before Admission and cancellation of its securities from
trading on AIM ("Cancellation"):
Date
Date of Prospectus 30 June
2020
Applications commence for Hong Kong Public Offering 30 June
2020
Applications close for Hong Kong Public Offering 7 July 2020
and pricing
Results of allocations in the Hong Kong Public Offering 14 July
2020
Last day of trading on AIM 14 July
2020
Admission and Cancellation 15 July
2020
Important Note
Admission to HKEx remains contingent upon a number of factors
including the successful outcome of the Global Offering and final
approval by HKEx for which, at this stage, there is no
certainty.
Trading of Shares on the HKEx and Election Form
For investors who have returned a valid election form and their
share certificates and have selected the first record date of 30
June 2020, their new share certificates will be issued in
accordance with their instructions and available to trade on
Admission.
For Investors who have returned a valid election form and have
selected the second record date of 14 July 2020, they may continue
to trade their shares until Cancellation and their new share
certificates will be issued in accordance with their instructions
and available to trade soon after Admission.
For investors who have not yet retuned an election form and who
wish to do so, it must be returned to the Company's registrar (Katy
Fry, Computershare Investor Services plc, The Pavilions, Bridgwater
Road, Bristol, BS13 8AE) by 14 July 2020.
The options available are:
1. Request the new share certificates in respect of shares held
by a shareholder to be sent to his/her/its stockbroker in Hong Kong
via his/her/its current stockbroker in the United Kingdom.
2. Request the new share certificates in respect of shares held
by a shareholder to be sent to his/her/its new stockbroker in the
United Kingdom.
3. Request the new share certificates in respect of shares held
by a shareholder be sent to a stockbroker in Hong Kong.
4. Request the new share certificates in respect of shares held
by a shareholder to be sent to such shareholder directly.
The Election Form is available on the Company's website:
http://chinanewenergy.co.uk/uploads/soft/191002/1-191002233914.pdf
For investors who do not return an election form, new share
certificates shall be sent to the registered address. For the
avoidance of doubt, no shares will be cancelled.
Hong Kong Broker
The Company is responding to requests from shareholders for
information on how they may continue to trade the Company's shares
in the event of Admission and Cancellation. A shareholder will
require an account with a broker who is authorised to trade shares
on HKEx. The Company notes that some UK brokers have international
trading divisions that are authorised to trade on HKEx and it
recommends that shareholders speak to their existing broker in the
first instance as soon as possible.
For shareholders who require an authorised HKEx broker, the
Company has identified Silverbricks Securities Company Limited
("Silverbricks") in Hong Kong which will open brokerage accounts
for shareholders and facilitate continued trading. There is no
minimum shareholding required. Shareholders will need to complete
Silverbricks' account application form and supply requisite
supporting identification documentation ("KYC") in compliance with
Hong Kong securities law.
The Silverbricks' application form and KYC forms are available
for download from the Company's website:
http://chinanewenergy.co.uk/uploads/soft/200615/1-2006151R250.docx
The Company advises that any reference above to third party
brokers is for information only and it is not making any
recommendations or providing any investment advice to shareholders
who are recommended to seek their own financial advice immediately
from their stockbroker, solicitor, accountant or other independent
adviser authorised under the Financial Services and Markets Act
2000.
Commenting, Mr Yu, Chairman, said, "This is an exciting
milestone for the Company; not only is admission to the Main Board
of the Hong Kong Stock Exchange a very prestigious event for the
Company, but it will also provide access to capital to enable the
Company to expand to its full potential and deliver long-term
shareholder value."
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 0885
(Nomad & Broker)
Jo Turner / Sandy Jamieson
Disclaimer
The information contained in this announcement is not an
invitation to invest in shares or other securities, or any other
products or services or otherwise deal in these or enter into a
contract with Silverbricks or any other brokers. The information
provided should not be relied upon in connection with any
investment decision. Shareholders should always seek appropriate
professional advice in such circumstances.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
PDIBIGDLLDDDGGC
(END) Dow Jones Newswires
June 30, 2020 02:00 ET (06:00 GMT)
China New Energy (LSE:CNEL)
Historical Stock Chart
From Mar 2024 to Apr 2024
China New Energy (LSE:CNEL)
Historical Stock Chart
From Apr 2023 to Apr 2024
