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GoFintech Quantum Innovation Limited — Capital/Financing Update 2013
Jan 31, 2013
49098_rns_2013-01-31_1848ec55-9849-49a1-935b-d6eaa16fc8f8.pdf
Capital/Financing Update
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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NEW TIMES ENERGY CORPORATION LIMITED 新 時 代 能 源 有 限 公 司[*] (incorporated in Bermuda with limited liability) (Stock Code: 00166)
VOLUNTARY ANNOUNCEMENT
This is a voluntary announcement made by New Times Energy Corporation Limited (the ‘‘Company’’).
Reference is made the announcements of the Company (the ‘‘Announcements’’) dated 12 November 2012, 2 December 2012, 10 December 2012, 21 December 2012, 3 January 2013, 16 January 2013 and 24 January 2013. Unless otherwise stated herein, terms and expressions used herein shall have the same meanings as those defined in the Announcements.
The Board is pleased to announce that the second LNG/CNG station in Liupanshui City, Liuzhi Special District, Guizhou Province, as one of the 17 LNG/CNG refilling stations and 3 LNG/CNG compression stations, to be acquired as indicated in the relevant acquisitions disclosed in the Announcements (the ‘‘Acquisitions’’) has commenced operation on 30 January 2013.
The first LNG/CNG station (to be acquired) commenced operation back on 28 December 2012, where it has secured sales contract with a local public transportation company to provide CNG to 41 public vehicles with a daily consumption of approximately 60 cubic meters per vehicle, therefore ensuring steady income during the early stage of operation of the gas station.
The operating company of the said LNG/CNG stations, to be acquired, has gained support from local governments and is now in talk to propose the application of LNG conversion to all vehicles in Liuzhi Special District in order to further secure gas sales for the newly opened LNG/CNG station. Along with the commencement of the China-Myanmar Gas Pipeline, one of China’s 4 major oil & gas pipelines, the said operating company reports confidence in its operations as sufficient natural gas supply will be available in Guizhou Province, thus securing promising potential opportunities for New Times Energy. Additionally, a total number of 15 LNG/CNG refilling stations and 3 LNG/CNG compression stations to be acquired will commence operation in 2013/2014.
- For identification purpose only
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The completion of the Acquisitions is subject to a number of conditions precedent. As the Acquisitions may or may not proceed, Shareholders and potential investors of the Company are advised to exercise caution when dealing in securities of the Company, and if they are in any doubt about their position, they should consult their professional advisers.
By order of the Board New Times Energy Corporation Limited Cheng Kam Chiu, Stewart Chairman
Hong Kong, 31 January 2013
As at the date of this announcement, the Board comprises seven Directors, of which three are executive Directors, namely Mr. Cheng Kam Chiu, Stewart, Mr. Cheng Ming Kit and Mr. Sun Jiang Tian; one non-executive Director, namely Mr. Wong Man Kong, Peter; and three independent non-executive Directors, namely Mr. Chan Chi Yuen, Mr. Fung Siu To, Clement and Mr. Chiu Wai On.
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