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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 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
RNS Number : 0804A
China Gateway International PLC
26 January 2011
FOR IMMEDIATE RELEASE 26 January 2011
China Gateway International PLC
("CGI" or "the Company")
Issue of Equity
Following the announcement on 14th January 2011, CGI is pleased to announce that it has issued 480,000 new ordinary shares of 1p each ("Shares") to Omega Properties Limited, a major shareholder, at a price of 12.5p per Share. The price paid is equal to the closing mid-market price on AIM on 23 December 2010 and is the same price as the issue of new ordinary shares to LACV Limited. The subscription has raised GBP60 000 in cash before expenses which will be used for general working capital purposes.
The shares in Omega Properties Limited are registered in the name of F&A Services Limited, which holds them on discretionary trust for a class of beneficiaries which includes Ken Wills, Director and CEO of CGI. The current holding of 4,834,413 representing 19.18% of the issued share capital means that the subscription constitutes a "related party" transaction under the AIM Rules. The Directors independent of Mr Wills (being Chris Seymour-Prosser, Robin Bolton and Brian Moritz) having consulted with the Company's Nominated Adviser, consider that the terms of the subscription are fair and reasonable insofar as the Company's 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 31 January 2011
Following the subscription Omega Properties Limited will hold 5,314,413 ordinary shares of 1p each representing 21.09% of the Company's issued share capital.
Ends
For further information, please contact:
China Gateway International PLC KenWills +44 (0) 1843 822444 Beaumont Cornish Limited +44 (0) 20 7628 Roland Cornish 3396
This information is provided by RNS
The company news service from the London Stock Exchange
END
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