GPS, an Energy Investment Holding in Thailand Completed First Tranche of Subscription of BGBS’s Share

August, 17/2018 - 16:41
GPS, an Energy Investment Holding in Thailand Completed First Tranche of Subscription of BGBS’s Share

HONG KONG, CHINA Media OutReach - 17 Aug 2018 - Beijing Gas Blue SkyHoldings Limited("the Company" or "Beijing Gas Blue Sky", together with itssubsidiaries, the "Group", HKSE stock code: 6828) is pleased toannounce that, Global Power Synergy Group (Thailand) Company Limited("GPS"), an energy investment holding inThailand, has completed the first tranche ofsubscription of 100,000,000 new Shares of the Company. While the secondtranche of subscription of 50,000,000 new Shares will be completed on or before28 Sep 2018. Immediately upon the issue and allotment of all the SubscriptionShares under both the First Tranche and the Second Tranche, GPS will own 1.21%of the issued share capital of the Company.

 

On 24 Jan 2018, theCompany entered into the Subscription Agreement with Mrs. Surangrat Chirathivat,a key shareholder and president of GPS. The Company also entered into anon-binding Strategic Cooperation Agreement with GPS, to create a strategiccooperation relationship between the parties.

 

Pursuant to theStrategic Cooperation Agreement, the parties have agreed, among other things,the followings:

 

a) In view of theencouraging energy related business development opportunities andcollaborations in the South East Asia, Northeast Asia, (including the People'sRepublic of China) and Oceania, subject to the specific contracts to be enteredbetween the parties, the parties would like to cooperate in selected projects,in the following aspects:

 

     I.   sourcing and trading of liquefied nature gas("LNG") for buyers in Southeast Asia and Northeast Asia;

 

   II.   supplying of LNG to power plants and/or otherinfrastructure in Thailand and Southeast Asia;

 

  III.   increasing natural gas usage in Thailand; and

 

 IV.    utilizing from each Party's competitive advantages toenhance business opportunities and development of this cooperation.

 

b) The geographicfocus of the business will be Southeast Asia, Northeast Asia and Oceania.

 

GPS was solelyfunded and established by Mrs. Surangrat Chirathivat and her husband, both ofwhom are family members of Central Group, one of Thailand's largestconglomerate running more than 4,800 locations/branches of store networkglobally with net saleable area of over 4.5 million sq.m. and revenue of 2016over US$9.17 billion. GPS is an investment company in various energy relatedassets as well as energy commodities trading business. Together with itspartners, the company has handled over US$2billion in value of tradingactivities. The company aims to strengthen electricity security for Thailand,and natural gas is deemed to be the main source of electricity generation forthe country. As such, GPS has been heavily focused on expansion in natural gasbusiness and actively seeking for global strategic partners especially in Asiafavouring Thai government's policies, one of which is to support cooperationand connectivity among countries in One Belt One Road Initiative of ThePeople's Republic of China.

 

About Beijing Gas Blue SkyHoldings Limited

Beijing Gas Blue Sky HoldingsLimited ("Beijing Gas Blue Sky", HKSE stockcode: 6828) is an integrated natural gas provider, distributor and operator,with an emphasis on the midstream and downstream natural gas development. Ournatural gas business includes: (i) construction and operation of compressednatural gas ("CNG") and liquefied natural gas ("LNG") refueling stations forvehicles; (ii) construction of natural gas pipelines and operation of city gasprojects by providing piped gas; (iii) direct supply of LNG to end-users; and(iv) trading and distribution of CNG and LNG.

 

The Group has adapted to the "One Belt One Road"policy, and focus on operating and investing natural gas business. The Group isactively expanding its business development and distribution, as well ascontinues to gradually expanding the scale of operations. Currently, the Grouphas business presence in several provinces in Northeast China, East China,Central South China and Southwest China, including Liaoning Province, JilinProvince, Shandong Province, Shanxi Province, Anhui Province, ZhejiangProvince, Hubei Province, Guizhou Province, Sichuan Province and HainanProvince, etc. The Group is committed to its vision: "develop cleanenergy, enhance customer value, create a beautiful blue sky". In thefuture, it will continue to actively investing and developing natural gas business,as well as participating in the development of natural gas industry valuechain.

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