Result of Tender Offer

 

TIDMCBI 
 
RNS Number : 3251O 
China Biodiesel International Hold 
28 June 2010 
 

 China Biodiesel International Holding Co., Ltd. 
 ("China Biodiesel" or "the 
                                    Company") 
 
                             Result of Tender Offer 
 
The Board of China Biodiesel is pleased to announce the result of the Tender 
Offer referred to in the circular sent to Shareholders of the Company dated 11 
June 2010. This Tender Offer closed on 25 June 2010 in accordance with its 
timetable. 
 
A total of 8,796,852 Ordinary Shares were validly tendered pursuant to the 
Tender Offer, representing approximately 19.37 per cent. of the current issued 
share capital and approximately 79.76 per cent. of the Tender Offer Shares. 
 
The Tender Offer will be effected by Evolution Securities Limited purchasing the 
Ordinary Shares as principal and then selling such Ordinary Shares on AIM to the 
Company for cancellation pursuant to the Repurchase Agreement. Following 
completion of the Tender Offer and cancellation of the Ordinary Shares, the 
Company will have a total of 36,614,913 Ordinary Shares in issue. 
 
As of 10 June 2010, immediately prior to the announcement of the Tender Offer, 
the Directors beneficially owned or were interested in an aggregate of 
34,076,315 Ordinary Shares. Huodong Ye and Gloria He, both directors of the 
Company, will retain an interest in the Company following completion of the 
Tender Offer, in accordance with their undertaking not to accept, or procure the 
acceptance of, the Tender Offer in respect of a total of 34,037,785 Ordinary 
Shares beneficially owned by them. The shareholdings of the Directors are as 
follows: 
 
+----------+---------------+------------------------------------+------------+-------------+------------+ 
|Director  |   Position    |                Prior to Tender                  |      On Completion       | 
|          |               |                      Offer                      |     of Tender Offer      | 
+          +               +-------------------------------------------------+--------------------------+ 
|          |               |                             Number | Percentage |      Number | Percentage | 
|          |               |                                 of |         of |          of |  of Issued | 
|          |               |                           Ordinary |   Existing |    Ordinary |      Share | 
|          |               |                             Shares |     Issued |      Shares |    Capital | 
|          |               |                                    |      Share |             |  following | 
|          |               |                                    |    Capital |             | Completion | 
|          |               |                                    |            |             |  of Tender | 
|          |               |                                    |            |             |      Offer | 
+----------+---------------+------------------------------------+------------+-------------+------------+ 
| Huodong  | Chairman      |                      33,772,785    |     74.37% |  33,772,785 |     92.24% | 
| Ye       |               |                                    |            |             |            | 
+----------+---------------+------------------------------------+------------+-------------+------------+ 
| Gloria   | Chief         |                          265,000   |      0.58% |     265,000 |      0.72% | 
| He       | Financial     |                                    |            |             |            | 
|          | Officer       |                                    |            |             |            | 
+----------+---------------+------------------------------------+------------+-------------+------------+ 
| Jian     | Chief         |                                  - |          - |           - |          - | 
| Lu       | Operating     |                                    |            |             |            | 
|          | Officer       |                                    |            |             |            | 
+----------+---------------+------------------------------------+------------+-------------+------------+ 
| Chris    | Non-Executive |                            38,530  |      0.08% |          -  |          - | 
| Butler   | Director      |                                    |            |             |            | 
+----------+---------------+------------------------------------+------------+-------------+------------+ 
| Derrick  | Non-Executive |                                  - |          - |           - |          - | 
| Woolf    | Director      |                                    |            |             |            | 
+----------+---------------+------------------------------------+------------+-------------+------------+ 
 
It is anticipated that CREST accounts will be credited with, and cheques 
despatched for, the Tender Offer proceeds and the final dividend for the year 
ended 31 December 2009 on 14 July 2010. 
 
 
As previously announced, the proposed cancellation of admission of the Ordinary 
Shares to trading on AIM and the Repurchase are subject to shareholder approval 
at an Extraordinary General Meeting on 6 July 2010, notice of which was sent to 
shareholders on 11 June 2010. 
 
Terms defined in the circular have the same meanings in this announcement. 
28 June 2010 
For further information: 
 
 Gloria He, CFO: [phone] 
 James 
Wang, Company Secretary: [phone] 
Chris Clarke or Bobbie Hilliam 
 Evolution Securities: [phone] 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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