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Hong Kong, Oct 2, 2009 (ABN Newswire) - Mr. ZHU Gong Shan, Executive Director, Chairman and CEO of GCL-Poly Energy Holdings Limited (HKG:3800), wishes to clarify that his recent transfer of 58,125,000 of GCL-Poly's shares on 24 September 2009 was pursuant to an option exercised by MS China 3 Limited (a wholly owned subsidiary of Morgan Stanley) to receive shares instead of cash consideration under a Supplemental Agreement entered on the 10th of July 2007 as disclosed in the IPO Prospectus of GCL Poly dated 31st October 2007.
This share transfer does not in any way reflect upon Mr. Zhu's outlook of GCL-Poly's business operations. Mr. Zhu remains optimistic that the renewable energy industry will bring about significant business opportunities going forward and he is confident that GCL-Poly is well-positioned to take advantage of such opportunities.
This share transfer does not in any way reflect upon Mr. Zhu's outlook of GCL-Poly's business operations. Mr. Zhu remains optimistic that the renewable energy industry will bring about significant business opportunities going forward and he is confident that GCL-Poly is well-positioned to take advantage of such opportunities.
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About GCL-Poly Energy Holdings Limited
GCL-Poly Energy Holdings Limited is a world leading polysilicon manufacturer for the solar industry and a leading integrated green energy enterprise in China. Production
capacity of GCL Solar, a subsidiary of the Group, is expected to reach 18,000 metric
tonnes of polysilicon by the end of 2009, and 1 GW of solar wafers by mid 2010. In
addition, the Group operates a total of 18 cogeneration power plants, 1 incineration
power plant and 1 windpower plant. Most of these plants are located in Jiangsu and
Zhejiang provinces with strong economic growth and robust demand for electricity and
steam. All these plants are advocated and encouraged by Chinese government.
For more information about GCL-Poly, please visit the company’s website at
http://www.gcl-poly.com.hk
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