1 June 2018
Gowin New Energy Group Limited
("Gowin" or the "Company")
Shareholder Loans
The Directors wish to update shareholders of the following:
On the 25 May 2017, Mr Chen borrowed £650,438 from four shareholders and provided the funds as a short-term loan facility to the Company. In effect the short-term loan to the Company was provided by four shareholders in the name of Mr Chen, and there was no loan agreement between the Company and the four shareholders. On the 5 June 2017, the Company repaid the loans to the four shareholders. At the time the loan transactions were entered into, the loan transactions were not disclosed to the market.
The Shareholders are:
|
Shareholder Name
|
Loan Amount
|
Repayment Date
|
|
SHU HSIANG WU
|
£260,174
|
5 June 2017
|
|
CHENG-FENG TSAI
|
£130,088
|
5 June 2017
|
|
CHIEN-MING CHENG
|
£130,088
|
5 June 2017
|
|
CHIH-FENG CHAO
|
£130,088
|
5 June 2017
|
As at the 25 May 2017, Shu Hsiang Wu was a 11.19% shareholder of the Company and therefore regarded as a related party as defined by NEX Exchange Growth Market Rules for Issuers, consequently the Shareholder Loan is a related party transaction for the purpose of NEX Rule 55.
Three shareholders respectively entered into an agreement on the 2, 3 and 6 May 2018, for the provision of an unsecured loan facility of an aggregate of £375,000 (the "Shareholder Loans"), in support of the Company's short-term capital requirements,
The Key terms of the Shareholder Loans are:
|
Shareholder Name
|
Loan Amount
|
Repayment Date
|
Interest Rate
|
|
SHU HSIANG WU
|
£125,000
|
6 November 2018
|
2% (per annum)
|
|
CHENG-FENG TSAI
|
£125,000
|
2 November 2018
|
2% (per annum)
|
|
CHIEN-MING CHENG
|
£125,000
|
3 November 2018
|
2% (per annum)
|
Shu Hsiang Wu is a 11.19% shareholder of the Company and therefore regarded as a related party as defined by NEX Exchange Growth Market Rules for Issuers, consequently the Shareholder Loan is a related party transaction for the purpose of NEX Rule 55.
Garry Willinge, Non- Executive Chairman, commented:
"We are pleased that three of our shareholders have provided a loan facility in support of the Company's short-term capital requirements"
The directors of Gowin New Energy Group Limited accept responsibility for this announcement.
For further information please visit http://www.gowingrp.com/ 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