Gowin New Energy Group Ltd : Issue of Equity

Gowin New Energy Group Limited

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Gowin New Energy Group Limited

("GNE", the "Company" or the "Group")

Issue of Equity

Further to the announcement of 14 November, the Board of Gowin New Energy Group Limited (AIM: GWIN) is pleased to announce that it has undertaken a placing of new shares ("Placing Shares") to satisfy excess market demand.  The Company has raised £191,792 through a placing of 2,018,863 Placing Shares at a placing price of 9.5p per Placing Share.

The funds will be used to further support the Group's business strategy as set out in the admission document dated 1 November 2013. 

Garry Willinge, Non-executive Chairman of GNE, commented: "The Company is pleased with the market response since admission of its shares to AIM and remains focused on successful execution of its business strategy".

The Placing Shares will, when issued, rank pari passuin all respects with the existing ordinary shares of the Company. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM (the "Admission"). It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00am on 27 November 2013.

Following Admission, the Company's enlarged issued share capital will comprise 345,712,176 ordinary shares with voting rights. The Company does not hold any shares in treasury. This figure of 345,712,176 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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For further information please visitwww.gowinyichia.comor contact the following:

Garry Willinge	Gowin New Energy Group Limited	[phone]
James Caithie / Avi Robinson	Cairn Financial Advisers LLP	[phone]
David Scott / Fiona Kinghorn	Alexander David Securities Limited	[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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