JQW PLC Director/PDMR Shareholding (5135D)

TIDMJQW

RNS Number : 5135D

JQW PLC

29 January 2015

 
 Press Release   29 January 2015

JQW plc

("JQW", the "Group" or the "Company")

Founders' Share-based Payment Scheme

On Admission of the Company to AIM, Mr Cai Yongde, Chairman, and Mr Chen Daocai, Chief Executive Officer, established the Founders' Share-based Payment Scheme (the "Scheme"). The purpose of the Scheme is to incentivise and reward employees who meet certain performance criteria set by the Directors. Under the this scheme, Champ Public Limited ("Champ"), which is 54.7% owned by Mr Cai Yongde and 45.3% owned by Mr Chen Daocai, will make discretionary transfers of JQW shares to such employees. The maximum percentage of JQW shares which may be transferred pursuant to the Scheme is two per cent. of the enlarged share capital of the Company. The Scheme does not involve the allotment of JQW shares by the Company as the shares will be transferred from the existing holdings of Champ.

Pursuant to the terms of the Scheme as set out in the Admission Document dated 9 December 2013, Champ has transferred 1,226,655 JQW shares, representing 0.63% of the issued share capital of the Company, to certain employees of JQW. Champ now holds 27,955,745 JQW shares representing 14.4% of the issued share capital of JQW. The staff members that have been awarded the JQW shares have agreed to be bound by the terms of the Lock-in Agreement entered into by Champ at the time of Admission. Cairn Financial Advisers LLP and Argento Capital Markets Limited have given Champ written consent to this transfer pursuant to the terms of the Lock-in Agreement.

- Ends -

For further information:

 
 JQW plc 
 Cai Yongde, Chairman                     Tel: +44 (0) 20 7398 
                                                          7714 
 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          Tel: +44 (0)20 7148 
                                                      7900 
                                          www.cairnfin.com

Media enquiries:

 
 Abchurch Communications Limited 
 Henry Harrison-Topham                Tel: +44 (0)20 7398 
                                                     7702 
 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 the second highest ranked 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 49 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 839 million at February 2014 and there is a considerable amount being invested into the country's telecommunications infrastructure. 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.

The Group recently has:

   10 million    Registered users 
   5 million      Page views per day 
   1,046,000   Sheng-Yi-Tong members with website "shops" 
   238,000      Fee-paying members as of 30 September 2014 
   700             Rated in the top 700 websites for global website traffic rankings 
   42               Sales agencies 
   2                 Second (behind Alibaba) in Chinese B2B website traffic rankings

This information is provided by RNS

The company news service from the London Stock Exchange

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