HONG KONG, Jan. 14, 2011 /PRNewswire-Asia/ -- China Forestry Holdings Co., Ltd. (Stock Code:930), today noted the decrease in the price of the shares on 13 January 2011 and wishes to state that, the Board is not aware of any reason for such movement. The Board wishes to emphasize to the investment public that the Placing is solely Mr. Li Han Chun’s own investment decision and is not related to and does not have any negative impact on the business operations and financial performance of the Company. As informed by Mr. Li, the proceeds from the placing will possibly be used for his own passive investment.
Mr. Li has been responsible for the overall management of the Group since he joined the Group in 2004 will continue to be the chief executive officer of the Company.
Currently, the Company operates stably. The proposed acquisitions of the Company in Yunnan, Chongqing and Guizhou will proceed as scheduled. The management of the Company will continue to operate with the interests of the investors in mind and strive to promote the growth of the Company and optimize the forestland resource reserve with a view to bring satisfactory returns to the investors.
The controlling shareholder, Kingfly Capital Limited (“Kingfly”), which is wholly owned by Mr. Li Kwok Cheong (the “Chairman”), the chairman of the Company, and The Carlyle Group, a substantial shareholder, as well as the executive directors of the Company are confident in the future and prospect of the Company. In this connection, as informed by Kingfly, the Chairman, through Kingfly, has purchased 12,000,000 shares of the Company in the market on 13 January 2011 and may further increase his stake in the Company in the future.
To learn more about the Company, please visit the Company’s website at:
http://www.chinaforestryholding.com
