Lianguo International exit offer for China Energy shares crosses key threshold

Singapore - Lianguo International Ltd's exit offer to acquire all the shares in China Energy closed on Monday with Liangguo holding approximately 91.64 per cent of the company's total issued shares as at 7 October, the companies told the Singapore Exchange.

Linguo has sent out a circular to shareholders who had not accepted the exit offer stating that it intends to exercise its right to acquire all the remaning shares of China Energy at the exit offer price of 5.2 cents on or after 15 November.