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Ch Grand Forest (0910): Shenyu due diligence in progress 2007/12/14 09:48 (Infocast News) China Grand Forestry Resources (0910) (CGFR) has made a clarification announcement in response to certain media articles in the PRC recently which questioned the value of Shenyu New Energy Group Limited proposed to be acquired by CGFR and CGFR's proper ownership of certain forest lands. CGFR clarified that further to its announcements last month in relation to the proposed acquisition of Shenyu New Energy, the due diligence review of Shenyu New Energy is still in progress and CGFR has appointed Poeyry Forest Industry, an independent appraiser, to confirm the fair value of the net assets of Shenyu New Energy in a valuation report which will be contained in a circular to be issued. CGFR also reiterates that, to the best of the directors' knowledge, information and belief after having made reasonable enquiries, the vendor and its ultimate beneficial owners are third parties independent of and not connected with CGFR. CGFR also clarified that all of its forest land use right and ownership of timber resources are legally owned. The company has noticed that there were comments from anonymous sources in the articles and does not know the source of the information that the articles were based on. It is seeking legal advice and considering possible legal actions in relation to such articles which contain certain misleading information and false allegation. |
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| aus der Diskussion: | China Grand Foresty - hier wachsen die Bäume in den Himmel? - |
| Autor (Datum des Eintrages): | Nissie (14.12.07 17:10:08) |
| Beitrag: | 51 von 221 (ID:32767818) |
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