GTS Chemical Holdings PLC Annual Report, Dividend Proposal & Notice of AGM (1590R)

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RNS Number : 1590R

GTS Chemical Holdings PLC

25 June 2015

25 June 2015

GTS Chemical Holdings plc

("GTS" or the "Company" or the "Group")

Annual Financial Report, Proposal to Pay Dividend & Notice of AGM

GTS Chemical Holdings plc (AIM:GTS), the specialty chemicals producer and China's largest producer of ammonium sulfite, announces that its Annual Financial Report for the year ended 31 December 2014 and Notice of Annual General Meeting are being posted to shareholders and are available for download from the Company's website, www.gtschemical.com.

The Company's Annual General Meeting will be held at 4pm on 20 July 2015 at 4th Floor, Prince Frederick House, 35-39 Maddox Street, London, W1S 2PP.

Subject to approval of Resolution 2 at the Annual General Meeting of the Company, a dividend of 1.8 pence per share in respect of the financial year ended 31 December 2014 is to be paid to shareholders who are on the register of members at the close of business on 3 July 2015. If resolution 2 is approved, the final dividend will be paid on 31 July 2015.

Enquiries:

 
 GTS Chemical Holdings plc 
  Mr Roy Su, CFO                    Tel: [phone] 
                                    www.gtschemical.com 
 SP Angel Corporate Finance       Tel: [phone] 
  LLP 
  Nominated Adviser and Broker 
  David Facey / Stuart Gledhill 
 Yellow Jersey PR Limited         Tel: [phone] 
                                   304 
 Dominic Barretto / Alistair 
  de Kare-Silver 
 

About GTS Chemical Holdings plc

GTS manufactures specialty chemicals for the paper and chemicals industry. The Group is the largest Chinese producer of ammonium sulfite, a chemical used to manufacture paper from straw. GTS has also a rapidly growing lubricant oil division that services the automotive and industrial markets. Trading in recarburizer is its third division, which accounts for less than 10% of Group revenue.

The Group is located in Shandong Province, one of the largest provinces in China, ranked by GDP, and an area rich in downstream industries. GTS' location also means it is close to several chemical plants and paper factories, which gives it a distinct advantage over its competitors.

The Company is exposed to structural growth in the paper industry and chemicals sector, and market research estimates that from 2014 to 2020, China's demand for ammonium sulfite, led by the paper industry, is set to grow at an annual compound growth rate of 12%. GTS stands to gain from the Chinese Government's support of the non-wood paper industry and its drive to restructure the lubricant oil market through increased regulation and higher standards, which favour the more modern producer.

The Group has a history of strong profit growth and consistently high operating margins.

This information is provided by RNS

The company news service from the London Stock Exchange

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