World Trade Systems PLC Miscellaneous - Status Update (2517P)
15 Noviembre 2016 - 9:21AM
UK Regulatory
TIDMWTS
RNS Number : 2517P
World Trade Systems PLC
15 November 2016
15 November 2016
World Trade Systems PLC ("WTS")
Update on New Business Activity and Board Changes
Further to the Company's previous announcement dated 18 May
2016, we are pleased to announce the following update on the
ongoing development of WTS with business activities similar to that
of Suzhou Weibao Investment Co Ltd ("SZWB") and/or those of other
companies in the SZWB group.
WTS has now established Shimao Bio-technology Co. Ltd., a new
wholly-owned subsidiary in Suzhou, China ("WTS China") which has
been fully licensed as a wholly foreign-owned enterprise to engage
in the development and sale of bio-technical medical and healthcare
products. WTS China has begun developing its operations and
commenced trading.
The Company is now in the process of seeking the re-admission of
the Company's ordinary shares. It is envisaged that any
re-admission will be onto the standard segment of the Official List
of the UKLA ("Admission").
At the time of Admission, the Company currently expects to raise
new funds by way of a firm subscription of new ordinary shares with
a number of new shareholders and also offer existing shareholders
the right to participate in a pre-emptive fund raising.
The Admission and fund raising are likely to take place in the
first quarter of 2017 and shareholders will be kept informed on
significant developments during this time.
In preparation of the Admission, the Company announces the
following board changes:
The Company is delighted to announce the appointment of Abdul
Khader Mohamed Ismail ("AKM Ismail") (aged 55 years) and Ellen Xin
Lu (aged 41) as Finance Director and an independent non-executive
director respectively with effect from 15 November 2016.
AKM Ismail, a banker by background has considerable experience
with mainland Chinese companies, and has been instrumental in the
creation and subsequent development of WTS China.
Ellen Lu, who previously worked for McKinsey & Co is fluent
in Chinese and Mandarin and has considerable experience of business
within China.
There is no information to disclose in respect of paragraph
9.6.13 (2) to (6) of the Financial Conduct Authority Listing Rules
in respect of both Ismail and Ellen.
It is envisaged that at the time of Admission, the board will
appoint a further independent non-executive director and Antares
Cheng will resign from the board.
As previously announced Dr Shao Chen has recently joined the
board and at the time of Admission will become the Chief Executive
Officer of the Company. Robert Lee will continue his role as
non-executive Chairman.
For further information please contact:
Robert Lee or
AKM Ismail at akm.ismail@gmail.com or +44 1494 4590515
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGGRGGUPQGAA
(END) Dow Jones Newswires
November 15, 2016 10:21 ET (15:21 GMT)
World Trade Systems (LSE:WTS)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
World Trade Systems (LSE:WTS)
Gráfica de Acción Histórica
De May 2023 a May 2024