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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| China Gateway | LSE:CGA | London | Ordinary Share | GB00B1P70L34 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.75 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMCGA
RNS Number : 5282Z
China Gateway International PLC
14 January 2011
FOR IMMEDIATE RELEASE 14 January 2011
China Gateway International PLC
("CGI" or "the Company")
Issue of Equity
CGI is pleased to announce that it has issued to its major institutional shareholder 480,000 new ordinary shares of 1p each ("Shares") at a price of 12.5p per Share, that price being equal to the closing mid-market price on AIM on 23 December 2010. The subscription has raised GBP60,000 in cash before expenses which will be used for general working capital purposes.
The issue is wholly to LACV Limited ("LACV") (a fund under the discretionary management of Laxey Partners Limited who including discretionary funds under management currently own 24.49% 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 Shares, which when issued will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Trading is expected to commence on or around 20 January 2011.
Following the subscription Laxey Partners (including funds under their discretionary management) will hold 6,584,911 ordinary shares of 1p each representing 25.91% of the Company's issued share capital.
It is the intentions of Omega Properties Limited ("Omega") and Blenheim Limited ("Blenheim"), which are associated with Ken Wills and Chris Seymour-Prosser (Directors of the Company) 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 KenWills +44 (0) 1843 822444 Beaumont Cornish Limited Roland Cornish +44 (0) 20 7628 3396
This information is provided by RNS
The company news service from the London Stock Exchange
END
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