JQW PLC Holding(s) in Company (9892O)
02 Giugno 2015 - 4:25PM
UK Regulatory
TIDMJQW
RNS Number : 9892O
JQW PLC
02 June 2015
Press Release 2 June 2015
JQW plc
("JQW", the "Group" or the "Company")
Holdings in Company
The Company has recently conducted a review of its shareholder
register and has noted that Universe Glory Enterprises Limited
("Universe Glory") now holds 2,066,660 JQW shares representing
1.07% of the issued share capital of the Company and that Hansen
Drison Venture Capital Co. Limited ("Hansen Drison") holds
2,734,600 JQW shares representing 1.41% of the issued share
capital.
Previous notifications to the Company had stated that Hansen
Drison Venture Capital Co., Ltd held 7,259,600 shares in JQW
representing 3.75% of JQW's issued share capital, as announced on
22 January 2015, and that Universe Glory Enterprises Limited held
5,814,600 shares in JQW representing 3.00% of JQW's issued share
capital, as announced on 24 March 2015. The Company has not
received any notifications from either Hansen Drison or Universe
Glory of any share disposals since these holdings were
announced.
Under the terms of the Orderly Market Agreements signed by
Universe Glory and Hansen Drison on 9 December 2013, Universe Glory
and Hansen Drison are obliged to seek the written consent of Cairn
Financial Advisers LLP ("Cairn") and Argento Capital Markets
Limited ("Argento"), such consent not to be unreasonably withheld
or delayed, before making any disposals for a period of six months
from 9 December 2014. No consent has been granted by Cairn or
Argento since the previous holdings were announced. The Company is
disappointed that the two shareholders have not followed the
correct procedures as set out in the Orderly Market Agreements
however notes that the restrictions under the Orderly Market
Agreements are due to expire on 9 June 2015.
- Ends -
For further information:
JQW plc
Cai Yongde, Chairman Tel: +44 (0) 20 7398
7710
Chen Daocai, Chief Executive Officer www.jqw-ir.com
Kooi Wei Boon, Chief Financial Officer
Cairn Financial Advisers LLP (Nomad
& Broker)
Sandy Jamieson / Liam Murray/Jo Turner Tel: +44 (0) 20 7148
7900
www.cairnfin.com
Media enquiries:
Abchurch Communications Limited
Henry Harrison-Topham / Quincy Allan Tel: +44 (0) 20 7398
7714
jqw@abchurch-group.com www.abchurch-group.com
About JQW plc
JQW is a leading domestic business-to-business e-commerce
provider based in the Chinese province of Jiangsu. The Group's core
business is its online B2B platform, www.jqw.com, which has been
developed to encourage domestic trade by connecting Chinese SMEs
with potential trade partners. Founded in 2004, the platform was
developed to help to market Chinese SME's websites. JQW has evolved
rapidly to become one of the top three B2B e-commerce website in
China in terms of traffic and operates, what the Director's believe
to be, the first dedicated B2B search engine, www.jqw.cn.
JQW offers a low-cost entry point for Chinese SMEs to promote
themselves and their B2B products to potential buyers. In order to
increase transaction opportunities, JQW offers its clients a broad
range of services including website design, commercial search
services and advertising.
There are approximately 50 million SMEs in China manufacturing a
diverse range of products, accounting for 60% of the country's GDP.
The number of mobile internet-access users in China stood at 871
million at September 2014 and investment in the country's
telecommunications infrastructure continues to accelerate. These
factors have driven an increased demand for domestic trade of B2B,
B2C and C2C e-commerce. With the majority of these SMEs requiring
the use of third party B2B e-commerce platforms to promote their
businesses and access trade partners, the Board believes that JQW
offers a robust and highly reputable branded platform. With
exposure in over 50 industry sectors and considerable scope for
future growth, JQW is in a strong position to capitalise on the
development of this market.
At the end of 2014, the Group had:
11 million Registered users
5 million Page views per day
1,046,000 Sheng-Yi-Tong members with website "shops"
241,000 Fee-paying members
600 Rated in the top 600 websites for global website traffic rankings
44 Sales agencies
3 Top 3 in Chinese B2B website traffic rankings
This information is provided by RNS
The company news service from the London Stock Exchange
END
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