TIDMCGA

RNS Number : 6637S

China Gateway International PLC

23 November 2011

FOR IMMEDIATE RELEASE 23 November 2011

China Gateway International PLC

("CGI" or "the Company")

Issue of Equity

Total Voting Rights

CGI is pleased to announce that it has issued to both Omega Properties Limited ("Omega") and to Blenheim Limited ("Blenheim") 666,666 new ordinary shares of 1p each ("Shares") at a price of 4.5p per Share, that price being the closing mid-market price on AIM on 7 November 2011, the date when arrangements were agreed. Accordingly the subscription for a total of 1,333,332 Shares has raised GBP60,000 in cash before expenses which will be used for general working capital purposes.

Omega is a company connected to Ken Wills, director of CGI, and Blenheim is a company connected to Christopher Seymour-Prosser, director of CGI, and thus the subscription constitutes a "related party" transaction under the AIM Rules. The independent 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 29 November 2011.

Following the subscription, the Company's issued share capital will consist of 28,824,064 ordinary shares with a nominal value of 1p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.

Therefore the total number of Ordinary Shares in the Company with voting rights will be 28,824,064.

The above figure of 28,824,064 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

Following the subscription the interests of the subscribers will be as follows:

 
 Name                Related Party           Participation   Resulting holding 
------------------  ----------------------  --------------  ------------------ 
 Omega Properties 
  Limited *          Directors' interests    666,666         5,981,079 
                                                              (20.75 %) 
 -----------------------------------------  --------------  ------------------ 
 Blenheim Limited 
  **                 Directors' interests    666,666         2,187,443 
                                                              (7.59 %) 
 -----------------------------------------  --------------  ------------------

* The shares in Omega Properties Limited are registered in the name of F&A Services Limited, a company incorporated in Malta, which holds them on discretionary trust for a class of beneficiaries which includes Ken Wills, Director and CEO of CGI.

** The shares in Blenheim Limited are registered in the name of F&A Services Limited, a company incorporated in Malta, which holds them on discretionary trust for a class of beneficiaries which includes Chris Seymour-Prosser, the Managing Director of CGI.

Following the subscription, Ken Wills will have interests in 7,732,008 ordinary shares or 26.82 % of the share capital (including the shares held by Heritage Building Limited) in the Company, and Chris Seymour-Prosser will have interests in 9,941,427 ordinary shares, or 34.49% of the share capital in the Company. The total number of ordinary shares purchased by Mr Seymour-Prosser in the last twelve months is less than 1% of the voting share capital, and his current percentage holding is less than the highest percentage of shares in which he was interested in the previous twelve months.

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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