Issue of Equity

 

TIDMCGA 
 
RNS Number : 6621T 
China Gateway International PLC 
01 October 2010 
 

 
FOR IMMEDIATE RELEASE 
1 October 2010 
 
                        China Gateway International PLC 
                            ("CGI" or "the Company") 
                                Issue of Equity 
 
CGI is pleased to announce that it has issued 217,391 new ordinary shares ("the 
Shares") at a price of 11.5 p per Share, that price being equal to the closing 
mid-market price on AIM on 30 September 2010.  The subscription will raise 
GBP25,000 in cash before expenses which will be used for general working capital 
purposes. 
 
The issue is wholly to LACV Limited (a fund under the discretionary management 
of Laxey Partners Ltd which holds 23.82% of the Company's issued share capital) 
and accordingly the subscription constitutes a "related party" transaction under 
the AIM Rules. 
 
The Directors having consulted with the Company's Nominated Adviser, consider 
that the terms of the subscription are fair and reasonable insofar as its 
shareholders are concerned. 
 
Application will be made for the new ordinary shares, which will rank, pari 
passu with all existing ordinary shares, to be admitted to trading on AIM. 
Trading is expected to commence on or around 7 October 2010. 
 
Following the subscription Laxey Partners (including funds under their 
discretionary management) will hold 6,104,911 representing 24.49% of the 
Company's issued share capital. 
 
It is the intentions of Omega Properties Limited and Blenheim Limited, which are 
associated with Ken Wills and Chris Seymour-Prosser respectively, shortly to 
subscribe on a similar basis (or at the then closing mid-market price if 
higher). 
 
Ends 
 
For further information, please contact: 
 
+-------------------------------+-------------------------------+ 
| China Gateway International   |                               | 
| PLC                           | [phone]           | 
| Ken Wills                     |                               | 
|                               |                               | 
+-------------------------------+-------------------------------+ 
|                               |                               | 
+-------------------------------+-------------------------------+ 
| Beaumont Cornish Limited      |                               | 
| Roland Cornish                | [phone]          | 
|                               |                               | 
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|                               |                               | 
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|                               |                               | 
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|                               |                               | 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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