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Gowin New Energy Grp - Director Loan


Announcement provided by

Gowin New Energy Group Limited · GWIN

02/07/2018 11:43

Gowin New Energy Grp - Director Loan London Stock Exchange
RNS Number : 2450T
Gowin New Energy Group Limited
02 July 2018
 

 

 

2 July 2018

 

Gowin New Energy Group Limited

("Gowin" or the "Company")

Director Loan

 

Gowin New Energy Group Limited (the "Company") announces that it has entered into a Loan Agreement (the "Loan Agreement") with Mr Chen Chih-Lung, the Chief Executive Officer, pursuant to which Mr Chen has made available a loan of £30,000 to the Company. Under the terms of the Loan Agreement, the interest rate is 2% per annum and repayable by the Company in twelve months.

 

As announced in the Company's audited annual results for the year ended 31 December 2017, Mr Chen has pledged to support the Company's working capital needs as needed. Whilst the Company is actively in negotiations with investors for the tea business, and expects to raise funds to accelerate the growth of the tea business, the purpose of the loan is to provide short term liquidity to allow the Company to satisfy short-term payment obligations. Mr Chen will continue to support the Company's working capital requirements as and when required.

 

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


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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