Gowin New Energy Grp - Issue of up to £5 Million 2% Preference Shares
RNS Number : 2529C
Gowin New Energy Group Limited
07 February 2020
 

7 February 2020

GOWIN NEW ENERGY GROUP LIMITED

('Gowin' or 'the Company')

Issue of up to £5,000,000 of 2% Cumulative

Preference Shares of £0.02 each

The Directors of Gowin New Energy Group Limited are pleased to announce that an application has been made for a new class of shares for the issue of up to £5,000,000 2% Cumulative Preference Shares, with a nominal value of £0.02 each, of the Company (the "Preference Share"). The new Preference Shares have been admitted today to trading on the NEX Exchange Growth Market.

 

The Company has received £250,000 from an investor Mr Wen Sheng-Tung to issue 12,500,000 2% Preference Shares of £0.02 each.

 

The Preference Shares will trade under ticker 'GWPT' and ISIN KYG412151154.

 

The proceeds of the Preference Shares will be utilized in whole, save for amounts retained to meet expenses, to provide loan finance to Goyoung International Company Limited ('Goyoung') which will be drawn down in tranches, as tranches of the Preference Shares are issued. Goyoung will perform trading transactions in relation to a new Tea Business.

 

Goyoung was incorporated in May 2019 with an issued share capital of US$ 6,500.00. Goyoung was set-up to operate the new Tea Business and is currently 100 per cent. owned by Mr Chen Chih-Lung and Mr Wen Sheng-Tung, each holding 50% of the shares in Goyoung. Following the admission of the Preference Shares on NEX Exchange, Mr Chen Chih-Lung has agreed to dispose of his entire share capital of Goyoung at no consideration. Consequently, Goyoung will be owned as to 15% Gowin and 85% by Mr Wen Sheng-Tung.          

Information on the Preference Shares

The new Preference Shares shall be entitled to be paid in respect of each financial year or other accounting period of the Company a fixed cumulative preferential dividend (the "Preferential Dividend") payable at the rate of 2% per annum of the initial investment amount in priority to any payment of dividends to the holders of the Ordinary Shares or any other class of shares and shall only be paid out of the Tea Business Return received by the Company in the corresponding financial year or other accounting period of the Company.

Capital Structure

Issued Capital  

The Company's issued capital as at the date of 7 February 2020 is as follows:

Issued                                                      Issued £                                                    Number

Ordinary Shares

£2,900,005.53

290,000,533

Preference Shares

£250,000

12,500,000

 

 

Significant Shareholdings

 

As at 7 February 2020, the following parties have an interest of more than 3% in the Ordinary Shares of the Company:

 

 

Shareholder Name

Number of Ordinary Shares

Percentage Holding

CHEN CHIH LUNG

42,706,365

14.79%

SHU HSIANG WU

32,437,600

11.19%

HSU I-HSAN

25,344,688

8.74%

WEN SHENG-TUNG

25,344,688

8.74%

CHENG-FENG TSAI

24,328,200

8.39%

CHIN-LUNG HSIEH

24,137,633

8.32%

CHIH-FENG CHAO

13,628,824

4.70%

CHOICE ONLY INTERNATIONAL ENT CO LTD

9,731,280

3.36%

JIAN CHAO LI

8,672,646

2.99%

 

 

 

 

 

The directors of Gowin New Energy Group Limited accept responsibility for this announcement.

For further information please visit http://www.gowingrp.com/gowingrp_en/index.php/ or contact the following:

Garry Willinge                            Gowin New Energy Group Limited          +852 9100 9972

David Scott / James Dewhurst   Alexander David Securities Limited        +44 20 7448 9820

 


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