Issue of Equity, Total Voting Rights (6007X)
16 Febbraio 2012 - 7:00PM
UK Regulatory
TIDMCGA
RNS Number : 6007X
China Gateway International PLC
16 February 2012
FOR IMMEDIATE RELEASE 16 February 2012
China Gateway International PLC
("CGI" or "the Company")
Issue of Equity
Total Voting Rights
CGI announces that it has issued a total of 1,200,000 new
ordinary shares of 1p each ("Shares") being 715,000 Shares to Omega
Properties Limited ("Omega") and 485,000 Shares to Blenheim Limited
("Blenheim") at a price of 5.00p per Share, that price being the
closing mid-market price on AIM on 2 December 2012, the date when
arrangements were agreed. Accordingly the subscription for 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 22
February 2012.
Following the subscription, the Company's issued share capital
will consist of 30,024,064 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 30,024,064.
The above figure of 30,024,064 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 715,000 6,696,079 (22.30%)
------------------ ---------------------- -------------- -------------------
Blenheim Limited
** Directors' interests 485,000 2,672,443 (8.90%)
------------------ ---------------------- -------------- -------------------
* 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
8,447,008 ordinary shares or 28.13% of the share capital (including
the shares held by Heritage Building Limited) in the Company, and
Chris Seymour-Prosser will have interests in 10,426,427 ordinary
shares, or 34.73% 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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