SOURCE: BlueNRGY

BLUENRGY

December 16, 2015 08:30 ET

BlueNRGY Group Limited Announces FINRA Action on Share Consolidation

1-80 Reverse Split to Take Effect at the Open of Business on December 17, 2015

SYDNEY, AUSTRALIA--(Marketwired - Dec 16, 2015) - BlueNRGY Group Limited (OTCBB: CBDEF) ("BlueNRGY" or "Company"), a global provider of engineered systems and solutions for distributed power generation and climate control/energy efficiency, today announced it has received Financial Industry Regulatory Authority ("FINRA") approval for its previously announced consolidation of its ordinary shares at a ratio of 1:80. FINRA has advised BlueNRGY that the action will be published on its Daily List today, December 16, 2015.

The share consolidation is expected to take effect at the open of business on December 17, 2015. When effective, BlueNRGY's ordinary shares will trade under the new symbol CBDED for twenty business days, following which the Company's ticker symbol will revert back to CBDEF.

William Morro, BlueNRGY's Executive Chairman and CEO stated, "Having regained full compliance with the U.S. Securities Exchange (SEC) reporting requirements, with the filing of our Annual Report on Form 20-F for the Company's fiscal year ending June 30, 2015, on December 10, 2015, FINRA's actions will allow us to move the Company forward with our strategic plan toward requalifying our securities to trade on the NASDAQ Capital Market."

About BlueNRGY Group Limited:

Established in 1989, BlueNRGY Group Limited is a leader in engineered solutions for the management of distributed power generation and climate control/energy efficiency systems. Its Draker monitoring system and other data analytics and life-cycle maintenance services are deployed worldwide and relied upon by system owners, financial institutions, utilities, government bodies and component manufacturers to deliver mission-critical information and operational support. As a global leader in delivery of best-in-class technology, BlueNRGY monitors or services more than 2GW of operating assets and has designed and installed more than 230 MW of solar and wind systems for commercial and utility applications. The company's Parmac division is a leader in energy-efficient climate control systems in its served Australian markets.

With regional headquarters in Australia, the USA and Europe, BlueNRGY is positioned to serve customer operations globally. For more information, visit www.BlueNRGY.com.

Caution Concerning Forward-Looking Statements:

This news release contains 'forward-looking statements. Such forward-looking statements can be identified by, amongst other things, the use of forward-looking language, such as the words 'plan', 'believe', 'expect', 'anticipate', 'intend', 'estimate', 'project', 'may', 'would', 'could', 'should', 'seeks', or 'scheduled to', or other similar words, or the negative of these terms, or other variations of these terms or comparable language, or by discussion of strategy or intentions.

Such forward-looking statements are subject to various risks, as well as those set forth in the Company's most recent annual report on Form 20-F and other filings with the SEC, and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. Such statements include expectations about the effective date of BlueNRGY's share consolidation and relisting on the NASDAQ Capital Market. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements contained in this news release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release, and BlueNRGY Group Limited assumes no obligation to update or revise these statements unless otherwise required by law.

Contact Information

  • CONTACTS:
    Corporate:
    Email Contact

    PCG Advisory Group:
    Investors:
    Stephanie Prince
    Managing Director
    Phone: 646-762-4518

    Media:
    Sean Leous
    Managing Director
    Phone: 646-863-8998