Holding(s) in Company
July 23 2007 - 12:32PM
UK Regulatory
RENESOLA LTD
HOLDINGS IN COMPANY
ReneSola Ltd ("ReneSola" or the "Company") announces that it has been notified
of certain amendments to previously disclosed beneficial holdings in the
Company.
The two largest shareholders in the Company are as follows:
Shareholder No. of shares % of issued share
capital
Ruixin Holdings Ltd ("Ruixin") 39,402,019 39.4%
Yuncai Holdings Ltd ("Yuncai") 20,298,010 20.3%
These holdings were disclosed in the Company's AIM admission document dated 3
August 2006 (after deducting the shares transferred to Mr. Bai Xiao Shu as set
out in paragraph 4.8 of Part V of the AIM admission document) and have not
changed since the Company's admission to AIM on 8 August 2006 ("Admission")
(the "Shares").
Ruixin and Yuncai, which are both companies incorporated and registered in the
British Virgin Islands, are wholly owned by Li Xian Shou, the Chief Executive
Officer of the Company, and Wu Yun Cai, the Chief Operating Officer of the
Company, respectively.
Prior to Admission, Li Xian Shou and Wu Yun Cai entered into a trust agreement
with Lian Zheng Min and Dong Xiang Jun dated 2 May 2006 (the "Agreement").
Under the terms of the Agreement, Li Xian Shou and Wu Yun Cai agreed to hold a
certain percentage of their shares in the Company (such percentages calculated
before taking into account the placing of shares on Admission) on trust for
Lian Zheng Min and Dong Xiang Jun (both of whom were at the date of the
Agreement, at Admission and are currently directors of ReneSola's principal
trading subsidiary, Zhejiang Yuhui Solar Energy Source Co., Ltd).
Accordingly, the beneficial interests in the Shares as at the date of this
announcement are as follows:
Shares held Shares held Total Shares % beneficial interest
beneficially beneficially beneficially in ReneSola's issued
through through Yuncai held share capital
Ruixin
Li Xian Shou 24,477,012 - 24,477,012 24.5%
Wu Yun Cai - 10,746,005 10,746,005 10.7%
Lian Zheng Min 13,731,007 - 13,731,007 13.7%
Dong Xiang Jun 1,194,000 9,552,005 10,746,005 10.7%
Total 39,402,019 20,298,010 59,700,029 59.7%
The Agreement provides that:
* the legal ownership and voting rights attaching to all of the Shares are to
be held by Li Xian Shou and Wu Yun Cai (such ownership and voting rights
ultimately being controlled and exercised through Ruixin and Yuncai) whilst
the beneficial interest and economic rights in those Shares referred to in
the above table against their respective names are held by Lian Zheng Min
and Dong Xiang Jun (the "Relevant Shares");
* the trust will come to an end when the parties to the Agreement agree to
sell the Relevant Shares; and
* during the AIM Rule 7 lock-in period, Lian Zheng Min and Dong Xiang Jun
agree not to rescind the Agreement for whatever reason and furthermore
agree in that period not to request the sale of the Relevant Shares.
At Admission, each of Li Xian Shou, Ruixin, Wu Yun Cai and Yuncai entered into
lock-in deeds with ReneSola and Hanson Westhouse LLP ("HansonWesthouse"), the
Company's nominated adviser, under the terms of which the Shares cannot be sold
for a period of 12 months from Admission except in very limited circumstances
in accordance with AIM Rule 7. The parties to the lock-in deeds also agreed
that for a further period of 12 months Ruixin and Yuncai would not dispose of
any Shares without the consent of HansonWesthouse and that any such disposals
would be effected through HansonWesthouse, subject to certain exceptions. These
lock-in agreements remain in force.
Enquiries:
ReneSola Ltd +86 573 477 3061
Charles Bai, CFO +86 573 477 3058
email: charles.bai@renesola.com
Hanson Westhouse Limited 0113 246 2610
Tim Feather
Richard Baty
Buchanan Communications 020 7466 5000
Charles Ryland
Suzanne Brocks
Catherine Breen
END
Renesola (LSE:SOLA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Renesola (LSE:SOLA)
Historical Stock Chart
From Sep 2023 to Sep 2024
