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Green Dragon Gas announce proposed demerger of Greka Engineering


Published May 1, 2013
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Green Dragon Gas Ltd.-2

The Board of Green Dragon Gas Ltd. says the company is intending to demerge its engineering business by means of a dividend in specie of shares in Greka Engineering & Technology Ltd (Greka Engineering) to Green Dragon Shareholders (the "Demerger"). The Demerger, which is conditional upon the approval of Green Dragon Shareholders in general meeting, is expected to take place during June 2013 and it is intended that application will be made for shares in Greka Engineering to be admitted to trading on AIM.

Greka Engineering is a newly-incorporated subsidiary of Green Dragon and was established to hold Green Dragon's engineering and technology businesses and certain of its pipeline and gas compression assets (together the "Greka Engineering Group" or the "Group").

Tags: Green Dragon Gas Ltd.



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