GTS Chemical Holdings PLC Change of registered holding of Director's shares (1586F)
17 Febrero 2015 - 9:13AM
UK Regulatory
TIDMGTS
RNS Number : 1586F
GTS Chemical Holdings PLC
17 February 2015
17 February 2015
GTS Chemical Holdings plc
(The "Company" or "GTS")
Change of registered holding of Director's shares
The Company announces that SinoEuro Runtai Environment
Protection Resource Co., Ltd. ("SinoEuro Runtai"), a company wholly
owned by Cheng Liu, CEO of GTS, having consulted with the Company
and SP Angel Corporate Finance LLP, has transferred its entire
holding of 78,057,556 ordinary shares of 1 pence each in the
Company ("Ordinary Shares") to SinoEuro Runtai's account at Credit
Suisse AG. The shares will be registered in the name of Lynchwood
Nominees Limited.
Following this transaction, Cheng Liu's total beneficial
interest in the Company remains unchanged at 78,057,556 Ordinary
Shares representing 76.29% of the issued share capital and total
voting rights of the Company. The Ordinary Shares held by SinoEuro
Runtai remain subject to the lock-in provisions as outlined in the
Company's Admission Document.
Enquiries:
GTS
Mr Roy Su, CFO Tel: +86 159 5935 8899
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
Nominated Adviser and Broker
David Facey / Stuart Gledhill / Liz Yong
Yellow Jersey PR Limited Tel: +44 (0) 7738 076 304
Alistair de Kare-Silver / Dominic Barretto Email: alistair@yellowjerseypr.com
About GTS Chemical Holdings plc
AIM listed GTS Chemical Holdings plc is the largest Chinese
producer of ammonium sulfite, a specialty chemical used in the
paper, chemical engineering, food and pharmaceutical industries.
GTS is also the second largest producer of ammonium bisulfite, a
preservative and reducing agent used in the petroleum drilling,
water treatment and chemical engineering industries and for
industrial desulfurization. The manufacturing of these two
specialty chemicals comprises the Group's core business segment.
GTS has a rapidly growing lubricant oil division, which services
the automotive and industrial markets.
The Group is located in Shandong Province, one of the largest
provinces in China ranked by GDP, and an area rich in downstream
industries. GTS' location also means it is close to several
chemical plants and paper factories, and it benefits from access to
lower cost raw materials through the use of low concentration waste
products from nearby industry, all of which gives GTS a distinct
advantage over its competitors.
The Company is exposed to structural growth in the paper
industry and chemicals sector, and market research estimates that
from 2014 to 2020, China's demand for ammonium sulfite, led by the
paper industry, is set to grow at an annual compound growth rate of
12%. GTS stands to gain from the Chinese Government's support of
the non-wood paper industry and its drive to restructure the
lubricant oil market through increased regulation and higher
standards which favour the more modern producer.
The Group has a history of strong profit growth and consistently
high operating margins.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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