We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
World Trade Systems Plc | LSE:WTS | London | Ordinary Share | GB0031939183 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMWTS
RNS Number : 5234Y
World Trade Systems PLC
18 May 2016
World Trade Systems PLC
Announcement
World Trade Systems PLC 18 May 2016
Update of transaction with Suzhou Weibao Investment Co Ltd ( SZWB)
Further to our previous announcement dated 15 Feb 2016, we are please to announce that the parties to the Memorandum of Understanding have agreed on the following structure in order to expedite the implementation process :
Kudrow Finance Ltd ("Kudrow") has transferred to SZWB and SZWB agrees to purchase from Kudrow, a total of 2,500,000 ordinary voting shares of WTS representing 28.55% of total issued and outstanding shares as at today with voting rights for 28.55%, (the "Sale Shares"). Kudrow's shareholding will reduce to 37.44% of the total issued and outstanding shares.
Dr Shao Chen, as Director and effectively 28.55% shareholder, has undertaken to use his knowledge and know-how to develop WTS with business activities similar to that of SZWB, and/or those of other companies in its group (collectively, the "SZWB Businesses"), such that WTS will be able to apply for and successfully obtain approval from the United Kingdom Listing Authority ("UKLA") and the Financial Conduct Authority ("FCA") for the resumption of trading of WTS's shares on the Main Board of the LSE.
Dr Shao Chen has been appointed Vice Chairman of the Company with immediate effect. WTS is incorporating a wholly-owned subsidiary in China and the business is expected to commence as soon as possible.
Avalon Enterprises Ltd and JH Global Partners Ltd remain committed to subscribe to additional shares which may be necessary to capitalise the Company in preparation for lifting the suspension subject to shareholders approval. Similarly, SZWB and Dr Shao Chen remain committed to grant loans which require shareholder approval as a related party loans if so required to build the business necessary to be eligible for lifting the suspension.
We are pleased to inform you that the other professionals are being appointed to make an application for the lifting of suspension of the shares in the London Stock Exchange and we look forward to all shareholders support in these endeavors.
Robert Lee
Chairman
18 May 2016
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCAKODDABKDKPD
(END) Dow Jones Newswires
May 18, 2016 02:00 ET (06:00 GMT)
1 Year World Trade Systems Chart |
1 Month World Trade Systems Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions