CGA China Gateway

 

TIDMCGA 
 
RNS Number : 6578E 
China Gateway International PLC 
23 December 2009 
 

 
 
 
 
FOR IMMEDIATE RELEASE 23 December 2009 
 
 
China Gateway International PLC 
("China Gateway", "CGI" or "the Company") 
Issue of Equity 
 
 
China Gateway is pleased to announce that pursuant to a subscription agreement 
dated 30 October 2009 ("the Agreement"), the Company have issued 1,570,283 new 
ordinary shares ("the Shares") to certain 
existing shareholders at a price of 
9.45p per Share, that price being a 10% discount to the mid-market price at the 
close of business on 29 October 2009.  The subscription will raise, net of 
expenses, GBP148,391.74 in cash and the monies will be used for general working 
capital purposes. 
 
 
The subscription will include the following "related party" transactions under 
the AIM Rules. 
 
 
+------------------+------------------+------------------+------------------+ 
| Name             | Related Party    | Participation    | Resulting        | 
|                  |                  |                  | holding          | 
+------------------+------------------+------------------+------------------+ 
| Laxey Partners   | Substantial      | 355,891          | 5,173,234        | 
|                  | shareholder      |                  | (22.92%)         | 
+------------------+------------------+------------------+------------------+ 
| Brian Moritz     | Director         | 211,640          | 211,640 (0.93%)  | 
+------------------+------------------+------------------+------------------+ 
| Omega Properties | Directors'       | 308,254          | 6,369,293        | 
| Limited *        | interests        |                  | (28.21%)         | 
+------------------+------------------+------------------+------------------+ 
| Blenheim Limited | Directors'       | 308,254          | 6,369,293        | 
| **               | interests        |                  | (28.21%)         | 
+------------------+------------------+------------------+------------------+ 
| Heritage         | Directors'       | 142,222          | 1,692,945 (7.5%) | 
| Building Limited | interests        |                  |                  | 
| **               |                  |                  |                  | 
+------------------+------------------+------------------+------------------+ 
| Robin Bolton *** | Director         | 105,820          | 105,820 (0.46%)  | 
+------------------+------------------+------------------+------------------+ 
 
 
 
 
* 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 Plc. 
 
 
** The shares in Blenheim Limited and Heritage Building 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 Plc. 
 
 
*** Robin Bolton's shares will be held in the name of Adam Nominees. Robin 
Bolton is the Non-Executive Chairman of CGI Plc. 
 
 
 Following the issue of Shares, Ken Wills will hold 6,369,293 shares or 28.28% 
of the share capital in the Company, and Chris Seymour-Prosser will hold 
8,062,237 shares, or 35.80% of the share capital in the Company. 
 
 
The Board of Directors, with the exception of those Directors who are involved 
as participants in the placing as set out in the table above,  considers, having 
consulted with the Company's nominated adviser, that the terms of the 
transactions are fair and reasonable insofar as its shareholders are concerned. 
 
Application will be made for the new ordinary shares, which will rank, pari 
passu with all existing ordinary shares, to be admitted to trading on AIM. 
Trading is expected to commence on or around 31 December 2009. 
 
 
 
Ends 
 
 
For further information, please contact: 
 
 
+-------------------------------------+-------------------------------------+ 
| China Gateway International PLC     | +44 (0) 1843 822444                 | 
| Ken Wills                           |                                     | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Beaumont Cornish Limited            | +44 (0) 20 7628 3396                | 
| Roland Cornish                      |                                     | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| David Bick/Mark Longson             | +44 (0) 20 7929 5599                | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOECKNKQQBDDDBB 
 

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