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Gowin New Energy Group Ltd - China-based LED lighting products and tea trading - Enters loan agreement with Chen Chih-Lung, the chief executive officer of the company, pursuant to which he has made available a loan of £25,000 to the company. Under the terms of the agreement, the interest rate is 2% per year and the loan is repayable in 12 months, extendable by mutual consent. The purpose of the loan is to provide short term liquidity to allow the Gowin New Energy to satisfy its payment obligations. The firm says that CEO Chih-Lung ‘will continue to support the company’s working capital requirements as and when required’.
Gowin New Energy shares last traded at 0.02 pence each on Aquis on October 19.
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