2 July 2018
Gowin New Energy Group Limited
("Gowin" or the "Company")
Director Loan
Gowin New Energy Group Limited (the "Company") announces that it has entered into a Loan Agreement (the "Loan Agreement") with Mr Chen Chih-Lung, the Chief Executive Officer, pursuant to which Mr Chen has made available a loan of £30,000 to the Company. Under the terms of the Loan Agreement, the interest rate is 2% per annum and repayable by the Company in twelve months.
As announced in the Company's audited annual results for the year ended 31 December 2017, Mr Chen has pledged to support the Company's working capital needs as needed. Whilst the Company is actively in negotiations with investors for the tea business, and expects to raise funds to accelerate the growth of the tea business, the purpose of the loan is to provide short term liquidity to allow the Company to satisfy short-term payment obligations. Mr Chen will continue to support the Company's working capital requirements as and when required.
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
