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Gowin New Energy Grp (GWIN)

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Tuesday 21 August, 2018

Gowin New Energy Grp

Related Party Transaction

RNS Number : 4558Y
Gowin New Energy Group Limited
21 August 2018
 

 

 

21 August 2018

 

Gowin New Energy Group Limited

("Gowin" or the "Company")

Related Party Transaction

 

Gowin New Energy Group Limited is pleased to announce that the Company has purchased its first consignment of tea products through its wholly owned subsidiary Rosin Trading Limited. The seller of the tea products is Mr Chen Chih-Lung, Chief Executive Officer of Gowin; therefore the seller is a related party of the Company.  

The total value of the tea assets as at 17 August 2018 is approximately £75,000. The transaction was closely monitored by the Board. 

 

Related party transaction

In view of the fact that the tea is being sold by Mr Chen Chih-Lung, the Chief Executive Officer of Gowin, to Rosin Trading Limited a wholly owned subsidiary of Gowin, the transaction is considered to be a related party transaction pursuant to NEX Exchange Rules for Issuers rule 55. The Board considers, having consulted with Alexander David Securities, the Company's corporate adviser, that the transaction terms between Mr Chen Chih-Lung and Rosin Trading Limited are fair and reasonable insofar as the Company's shareholders are concerned.  

 

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


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