30th Apr 2008 07:01
HaiKe Chemical Group Ltd.30 April 2008 HaiKe Chemical Group Ltd. ("HaiKe or the "Company") Holdings in company Pursuant to Article 57.8 of its Articles of Association, the Board of HaiKeChemical Group Ltd., the AIM-quoted petrochemical, specialty chemical andbiochemical business based in China, announces that the Company has beennotified on 29 April 2008 that HiTech Chemical Investment Ltd. and Mr. JunpingBai have increased and decreased, respectively, their holdings in the Company. On 29 April 2008 HiTech Chemical Investment Ltd. purchased from Mr. Junping Baia total of 1,654,042 ordinary shares of US$0.002 each in the Company ("OrdinaryShares") at a price of 110p each through a Share Purchase Agreement between thetwo parties. Prior to the transaction Mr. Junping Bai held 3,524,173 Ordinary Shares,representing approximately 9.19 per cent of the issued share capital of theCompany and HiTech Chemical Investment Ltd. held 19,565,000 Ordinary Shares,representing approximately 51.01 per cent of the issued share capital of theCompany. Following the transaction Mr. Junping Bai holds 1,870,131 Ordinary Shares,representing approximately 4.88 per cent of the issued share capital of theCompany and HiTech Chemical Investment Ltd. holds 21,219,042 Ordinary Shares intotal, representing approximately 55.33 per cent of the issued share capital ofthe Company. The current issued share capital of HiTech Chemical Investment Ltd., a BritishVirgin Islands registered company, is held by an aggregate of 44 employees ofHaiKe, including Mr. Xiaohong Yang, Executive Chairman and Mr. Zaizhong Zhang,Chief Executive, who own 12.24 per cent and 5.84 per cent of HiTech ChemicalInvestment Ltd. respectively. In addition, Mr Yang holds 61,678 Ordinary Shares and Mr Zhang holds 61,678Ordinary Shares, each representing approximately 0.16 per cent of the issuedshare capital of the Company. Mr. Junping Bai is a former director of Shandong Hi-Tech Chemical Group Co.Ltd., the key indirect subsidiary of the Company. The transaction was negotiated on an arm's length basis, on normal commercialterms. None of the parties held price sensitive information when concluding thetransaction. - End - Enquiries: HaiKe Johnson Lau, Chief Finance Officer +86 (0) 546 8289173 EvolutionSecuritiesLimited Stuart Andrews / Tim Worlledge +44 (0) 20 7071 4300 (Nominated adviser) EvolutionSecuritiesChina Limited Barry Saint / Esther Lee +44 (0) 20 7220 4850 (Financial adviser and broker) Cardew Group Rupert Pittman / +44 (0) 20 7930 0777 Shan Shan Willenbrock/ Emma Consett This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Haike Chemical Group