Gas producer Renergen has welcomed Ye Jia as the company's newest substantial shareholder, following his acquisition of the entire shareholding from private company Notable Pioneer.
Jia now holds 5.69% of Renergen's total issued ordinary share capital.
This follows a strategic restructuring of the Ye family's entire investment portfolio, wherein Notable Pioneer, solely owned by Ye Hui, has transferred 100% of its holding directly to another family member.
"We have been following Renergen's progress and can confirm that despite the current share price performance, we are pleased with the results achieved by the company, especially considering the highly technical and complex operating environment,” Jia said on February 21.
He added that Notable Pioneer continues to share the long-term strategic vision of Renergen’s management through the Phase 2 expansion of the Virginia gas project, in South Africa’s Free State province.
“This first investment marks my intention to remain a long-term shareholder, and in time, I will consider increasing my stake as the company further progresses its strategy," Jia said on February 21.