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May 06, 2015 1:34 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Fortune Oil plc

Company Overview

Fortune Oil PLC, an independent energy company, develops and operates oil and gas supply, and infrastructure projects in China. It operates an offshore crude oil import terminal, refined products jetty and storage terminal, and aviation refueling stations; and trades in oil and petrochemical products, liquefied petroleum gas (LPG), and liquefied natural gas (LNG). The company also engages in the exploration, production, distribution, and supply of natural gas and LPG to residential, industrial, and commercial customers, as well as to natural gas vehicles. Further, it invests in retail petrol stations in Beijing. Fortune Oil PLC is headquartered in Wanchai, Hong Kong. As of March 9, 2015, For...

Office Tower, Convention Plaza

Suite 2307

23rd Floor

1 Harbour Road

Wanchai,  

Hong Kong

68 Employees

Phone:

852 2802 8300

Fax:

852 2802 8322

Key Executives for Fortune Oil plc

Acting Chief Executive and Executive Director
Age: 56
Chief Financial Officer
Age: 53
Executive Vice Chairman and Member of Executive Committee
Age: 53
Executive Director and Member of Executive Committee
Age: 56
Technical & Business Development Director
Compensation as of Fiscal Year 2014.

Fortune Oil plc Key Developments

Fortune Oil plc, Special/Extraordinary Shareholders Meeting, Feb 13, 2015

Fortune Oil plc, Special/Extraordinary Shareholders Meeting, Feb 13, 2015., at 14:15 GMT Standard Time. Location: offices of Reed Smith LLP, The Broadgate Tower,.

Fortune Oil plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2014

Fortune Oil plc reported unaudited consolidated earnings results for the six months ended September 30, 2014. For the period, group revenue was £162,614,000 against £149,267,000 a year ago. Profit from operations was £13,120,000 against £110,020,000 a year ago. Profit before tax was £9,730,000 against £228,378,000 a year ago. Profit for the period attributable to owners of the parent was £8,918,000 or 0.35 pence per diluted share against £223,183,000 or 11.62 pence per diluted share a year ago. Net cash used in operating activates was £1,659,000 against £2,841,000 a year ago. Payment for property, plant and equipment was £172,000 against £3,519,000 a year ago.

Fortune Oil plc to Amend Articles of Association

Fortune Oil plc at its Annual General Meeting to be held September 26, 2014, is to change to Article 140 of the Articles of Association to reduce the period after which unclaimed dividends become forfeited from 12 years to six years, in line with the statutory period for limitation of claims under contract, has been included to reduce the administrative burden of record keeping and expense created by the previous extended period. Following the change, any shareholder who was entitled to but for any reason did not receive or cash a cheque for a dividend may simply by writing to either the Company or its registrar give notice, at any time for up to six years following the date on which the relevant dividend became due and payable, of their right to receive that dividend, in which case a new cheque or transfer will be issued or made in respect of such unclaimed dividend. In connection with this, the new Article 140A contains standard wording permitting the Company to invest or otherwise make use of any unclaimed dividend payments until they become claimed by the relevant shareholders.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 18, 2014
--
Merger/Acquisition
August 19, 2014
China Gas Holdings Limited
 

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