Schedule 1 update - Greka Drilling Limited (5109C)

TIDMZZZZ TIDMGDG TIDMGDL
RNS Number : 5109C
AIM
08 March 2011
 
        ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION 
         IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM 
                                    RULES") 
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 COMPANY NAME: 
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 Greka Drilling Limited 
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 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY 
  TRADING ADDRESS (INCLUDING POSTCODES) : 
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 PO Box 472 
  Harbour Place 2nd Floor 
  103 South Church Street 
  George Town 
  Grand Cayman KY1-1106 
  Cayman Islands 
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 COUNTRY OF INCORPORATION: 
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 Cayman Islands 
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 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED 
  BY AIM RULE 26: 
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 www.grekadrilling.com 
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 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, 
  IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING 
  POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE 
  TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: 
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 Greka Drilling Limited is a newly-incorporated subsidiary of 
  Green Dragon Gas Limited ("Green Dragon") and will on de-merger 
  from Green Dragon be the holding company for a group of companies 
  whose principal activities consist of the provision of coal 
  bed methane drilling services in China. Greka Drilling Limited 
  was established to hold Green Dragon's drilling businesses 
  and will be de-merged from Green Dragon by means of a dividend 
  distribution to Green Dragon shareholders; the dividend is 
  subject to shareholder approval. 
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 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS 
  AS TO TRANSFER OF THE SECURITIES (i.e. where known, number 
  and type of shares, nominal value and issue price to which 
  it seeks admission and the number and type to be held as treasury 
  shares): 
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 398,245,758 fully paid ordinary shares of par value US$0.00001 
  are to be admitted. No common shares will be held in treasury 
  on admission. 
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 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED 
  MARKET CAPITALISATION ON ADMISSION: 
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 No capital is being raised on admission 
  Expected market capitalisation USD 150m - 250m 
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 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: 
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 66.5% 
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 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH 
  THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES 
  (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: 
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 N/A 
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 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS 
  (underlining the first name by which each is known or including 
  any other name by which each is known): 
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 Randeep Singh Grewal (Chairman and Chief Executive Officer) 
  Dongju (Lisa) He (Chief Financial Officer) 
  Stewart Morris John OBE (Non-executive Director) 
  David Muir Turnbull (Non-executive Director) 
  Frederick Bryan Smart (Non-executive Director) 
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 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED 
  AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER 
  ADMISSION (underlining the first name by which each is known 
  or including any other name by which each is known): 
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                           Before           After 
                         admission       admission 
   Green Dragon 
    Gas Holdings 
    Limited 
    (note)                       -           66.3% 
   BlackRock Inc                 -            9.6% 
   PB Commerce 
    Ltd.                         -            4.8% 
   Green Dragon               100%               - 
    Gas Limited 
  Note: Randeep Grewal is beneficially interested in Green Dragon 
  Gas Holdings Limited and in addition will hold directly 0.2% 
  after admission and nil before admission. 
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 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 
  2, PARAGRAPH (H) OF THE AIM RULES: 
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 N/A 
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            (i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE 
            MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN 
            PREPARED (this may be represented by unaudited interim financial 
            information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE 
            REPORTS PURSUANT TO AIM RULES 18 AND 19: 
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                     (i) 31 December (ii) 31 December 2010 (iii) a) Interim 
                     results to 30 June 2011 to be released by 30 September 
                     2011 b) Full year results to 31 December 2011 to be 
                     released by 30 June 2012 c) Interim results to 30 June 
                     2012 to be released by 30 September 2012 
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 EXPECTED ADMISSION DATE: 
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 8 March 2011 
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 NAME AND ADDRESS OF NOMINATED ADVISER: 
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 Smith & Williamson Corporate Finance Limited 
  25 Moorgate 
  London EC2R 6AY 
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 NAME AND ADDRESS OF BROKER: 
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 Evolution Securities Limited 
  100 Wood Street 
  London EC2V 7AN 
  Macquarie Capital (Europe) Limited 
  Citypoint 
  1 Ropemaker Street 
  London EC2Y 9HD 
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 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE 
  (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE 
  AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL 
  DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: 
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 Copies of this document will be available free of charge for 
  one month from the date of Admission at the offices of Smith 
  & Williamson, 25 Moorgate, London EC2R 6AY. This document will 
  also be available on the Company's website www.grekadrilling.com. 
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 DATE OF NOTIFICATION: 
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 7 March 2011 
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 NEW/ UPDATE: 
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 UPDATE 
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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