Director/PDMR Shareholding

RNS Number : 3157N

Green Dragon Gas Ltd

09 June 2010

 



9 June 2010

GREEN DRAGON GAS LTD

("Green Dragon" or "the Company")

DIRECTOR'S INTEREST

Green Dragon Gas Ltd. (AIM:GDG), one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, announces that in connection with the convertible bond issue by the Company announced yesterday, there has been a structural change in the interest of Randeep S. Grewal (the Company's Chairman and CEO) in the share capital of the Company which results in no change in beneficial ownership.

Green Dragon Gas (Holdings) Limited yesterday agreed to transfer (for no consideration) 2,800,000 ordinary shares in the Company to GDGH Ltd. GDGH Ltd has been incorporated to facilitate a limited stock borrowing facility of up to USD $25 million in Green Dragon's stock held by GDGH Ltd with investors in the convertible bond issue described in the Company's announcement yesterday. GDGH Ltd is a wholly-owned subsidiary of Green Dragon Gas (Holdings) Limited which, following this transfer, itself holds 85,200,000 ordinary shares in the Company; Green Dragon Gas (Holdings) Limited therefore remains interested in a total of 88,000,000 ordinary shares in the Company (representing 73.0% of the Company's issued share capital). As previously announced, Mr Grewal is beneficially interested via a family trust in the shares held by Green Dragon Gas (Holdings) Limited.

For further information on the Company and its activities, please refer to the website at www.greendragongas.com or contact:

Stephen Hill / Betty Cheung  Green Dragon Gas	[phone]
Dr Azhic Basirov / David Jones Nomad & Broker, Smith &Williamson	[phone]
Robert Collins, Tim Redfern Broker, Evolution Securities	[phone]
Nick Morgan Broker, GMP Securities	[phone]
James Henderson, Phillip Dennis Investor Relations, Pelham Bell Pottinger	[phone]

 

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