OREANDA-NEWS. July 19, 2012. Fortune Oil confirms that Fortune Max Holdings Limited has purchased 17.984.000 additional shares in China Gas Holdings Ltd since the announcement made on 1 June 2012.

Fortune Max is a private company controlled and beneficially owned by Mr Daniel Chiu. a director and substantial shareholder in Fortune Oil. Fortune Max is therefore deemed for the purposes of the Hong Kong Code on Takeovers and Mergers to be an associate of China Gas Group Limited, the Joint Venture between Fortune Oil and Mr LIU Minghui.

As a result of the above purchases, the combined overall holding of the Joint Venture and of Fortune Max in CGH is 626.612.000 shares, representing 14.30 per cent, of CGH’s issued share capital.

Fortune Oil is obliged under Hong Kong Takeover Code Rules to publicly file details of all dealings through the Joint Venture and Fortune Max in the shares of CGH before 10 am on the next dealing day.

Fortune Oil will announce in London the total amounts acquired on a regular basis or where in a single day the current holding by the Joint Venture and Fortune Max has materially changed.