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G3 Exploration Ltd

Green Dragon Gas - Plans to List Production Subsidiary

Green Dragon Gas Ltd (LON:GDG) announced its plans to list its production subsidiary on the Hong Kong Stock Exchange as a dividend in specie. This operation requires shareholders’ approval and a vote will take place at the AGM to be held on 20/12/17 at 11:00 am. We expect the details of the listing, in particular the shareholding structure of the listed entity as well as the amount of capital increase, to be released on this occasion. However, the intention is for the company to be debt free as a result which we take as a positive; we keep our 221p valuation unchanged.

Executive summary

We keep our 221p valuation of GDG unchanged and might revisit it when the details of the listing and capital raising operations become clearer (Figure 2).

Quick facts: G3 Exploration Ltd

Price: 26.9 GBX

Market: LSE
Market Cap: £41.98 m
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G3 Exploration's Grewal updates on demerger of Green Dragon Gas

G3 Exploration Ltd's (LON:G3E) Randeep Grewal tells Proactive London they remain committed to concluding the demerger of Green Dragon Gas. G3 Exploration shareholders on the register as of the effective date 29 March will receive a direct interest in Green Dragon Gas, the G3 subsidiary...

on 1/7/19

3 min read