15th Oct 2014 11:36
LONDON (Alliance News) - JQW PLC, a domestic Chinese B2B e-commerce operator, Wednesday said a party has sold part of its shareholding without obtaining the consent of JQW's financial adviser and nominated adviser required under one of the orderly market agreements put in place at the time of its admission to AIM in December.
In a statement, JQW said the party that breached the agreement has agreed to buy back the shares it sold.
"JQW, its nominated adviser and financial adviser have also written to one of the other orderly market parties for clarification of its holding in the company in order to establish if a further breach of the orderly market agreements has taken place," the company said in a statement.
Argento Capital Markets Ltd and Cairn Financial Advisers LLP are JQW's advisers.
Separately, as part of a recent review of the company's share register, JQW said that UOB Kay Hian Private Ltd no longer holds a stake in more than 3% of the company's shares.
JQW shares were Wednesday quoted down 0.4% at 35.35 pence.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
JQW.L