BEIJING, Sept. 20 /PRNewswire-Asia-FirstCall/ --
Sinoenergy Corporation (Nasdaq: SNEN), developer and operator of
retail compressed natural gas (CNG) filling stations in
the People's Republic of China and
a manufacturer of CNG transport truck trailer, CNG filling station
equipment and CNG fuel conversion kits for automobiles, announced
today that it has notified the NASDAQ Stock Market of its intent to
delist its common stock from the NASDAQ Capital Market following
the anticipated completion of the merger of the Company into SNEN
Acquisition Corp., a wholly owned subsidiary of Skywide Capital
Management Limited. As a result of the merger, the Company will be
wholly owned by Skywide, which is owned by Mr. Tianzhou Deng, the
Company's chairman of the board, and Bo
Huang, the Company's chief executive officer and a member of
the board of directors.
The approval of the merger will be submitted to the Company's
shareholders for their approval at a special meeting of
shareholders scheduled for September 24,
2010. The terms of the merger are described in the Company's
proxy statement which has been mailed to shareholders and can be
viewed on the SEC's website, at www.sec.gov and on the Company's
website at
http://www.sinoenergycorporation.com/c2465/c2721/default.html . If
the merger is approved, the Company anticipates that it will file a
Form 25 with the Securities and Exchange Commission and NASDAQ a
Form 25 relating to the delisting of the Company's common stock
from NASDAQ. In the event that the merger is not approved by the
shareholders, the Company will not take steps to delist from
NASDAQ.
About Sinoenergy
Sinoenergy is a developer and operator of retail CNG stations as
well as a manufacturer of CNG transport truck trailers, CNG station
equipment, and natural gas fuel conversion kits for automobiles, in
China. In addition to its CNG
related products and services, the Company designs and manufactures
a wide variety of customized pressure containers for use in the
petroleum and chemical industries. The Company's website is
http://www.sinoenergycorporation.com . Information on the Company's
website or any other website does not constitute a portion of this
press release.
Forward-Looking Statements
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiaries. These
forward looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions. Such forward looking statements involve known
and unknown risks and uncertainties that may cause actual results
to be materially different from those described herein as
anticipated, believed, estimated or expected. Investors should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (www.sec.gov). All forward-looking
statements attributable to the Company or to persons acting on its
behalf are expressly qualified in their entirety by these factors
other than as required under the securities laws. The Company does
not assume a duty to update these forward-looking statements.
For Further Information Contact:
Cherry Chen
IR Manager
Sinoenergy Corporation
Tel: +86-10-8492-7035 x815
Email: tys@sinoenergycorporation.com
SOURCE Sinoenergy Corporation
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