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(CGA.L) China Gateway International PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 04-09-09 | RNS |
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RNS Number : 5190Y China Gateway International PLC 04 September 2009 China Gateway International Plc ("CGI" or "the Company") Visit of Chinese delegation & 'In principle' agreement to purchase land China Gateway International (CGI), the AIM listed property company, announces that it has hosted a delegation from the Chinese Peoples Association for Friendship with Foreign Countries, including the Honorary President of the China Friendship Foundation, Madam Li Xiaolin, the daughter of the former President of China Li Xiannian. Also in the delegation were Mr Yao Mingyu, the Vice Chairman and Secretary General of the Chinese People's Association for Friendship with Foreign Countries, and Mr Lu Changhe from the China National Culture and Art Company. The delegates were also accompanied by Mr Hu Yuandong, the Head of the United Nations Industrial Development Organisation (UNIDO) Investment Technology Promotions Office (ITPO), Beijing. The purpose of the visit was to show the delegation the Company's property at Manston and explain the concept of the China Euro Cultural Industry Hub (CECIH). The CECIH project plans to attract up to 300 businesses & commercial organisations from China to a purpose built 'Hub' at Manston Business Park. This would be the first of the 'China Gateway' buildings to be constructed. The Company also announces that an 'in principle' agreement has been reached with East Kent Opportunities (a joint venture between Kent County Council & Thanet District Council) for the purchase of a further 5.5 acres of land (subject to contract) at Manston Business Park, adjacent to the Company's existing land holding. A further announcement will be made if a Contract to Purchase is entered into. For further information, please contact: China Gateway International PLC
Beaumont Cornish Limited
Square1 Consulting Ltd
This information is provided by RNS The company news service from the London Stock Exchange END
MSCCKNKBABKDOCK More |
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| 28-08-09 | RNS |
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RNS Number : 1495Y China Gateway International PLC 28 August 2009
China Gateway International Plc ("the Company") Unaudited six month Interim Report for period to 31 May 2009 The Company sets out below its unaudited interim results for the six months ended 31 May 2009. The unaudited six month interim report for the period to 31 May 2009 is being posted to shareholders, and is available on the Company's web-site www.cgi-plc.com. Chairman's Statement On 26 June Commercial Group Properties Plc announced a change of its company name to China Gateway International Plc (CGI). This change effectively brought the Company name more in tune with our proposed end user and reflected the importance of our Chinese business activity. Our new name promotes the globalisation opportunities for Chinese businesses and our property's key location as a gateway to Europe for them. The Company has continued building on its strong relationships in China during the period under review. This has resulted in several opportunities for potential investment into its Manston project. China Gateway International is fortunate to have the support of the United Nations Industrial Development Organisation (UNIDO) Investment and Trade Promotion Office (ITPO) in China and has been working hard to establish the key foundation that will help to deliver the first elements of construction at Manston. Despite difficult times for the worldwide economy, the Company remains on track to commence development at Manston during the first half of 2010. The Board continues to believe that, given its excellent relationships with China, CGI is in a position to capitalise on their globalisation program. Despite the current financial challenges, the Company still expects to increase the value of its investment property at Manston by the progression of China Gateway through continued support of its existing lending bank and access to new finance sources with support from UNIDO ITPO - China. The Company acknowledges the support of local agencies including the South East England Development Agency (SEEDA) and Thanet District Council for their continued support of the Company's development proposals.
ROBIN BOLTON 26 August 2009
BALANCE SHEET
PERIOD FROM 1 DECEMBER 2008 TO 31 MAY 2009
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Current assets
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EQUITY AND LIABILITIES
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Non-current liabilities
borrowings
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Current liabilities
borrowings -------------------- ------------------------------------------ --------------------
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These financial statements were approved by the directors on 26 August 2009 and are signed on their behalf by: ...............................................*
K E WILLS
INCOME STATEMENT
PERIOD FROM 1 DECEMBER 2008 TO 31 MAY 2009 Continuing operations:
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Loss per ordinary share (pence)
STATEMENT OF CHANGES IN EQUITY
PERIOD FROM 1 DECEMBER 2008 TO 31 MAY 2009
for reclassification of
deferred expenditure
for property under development
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CASH FLOW STATEMENT
PERIOD FROM 1 DECEMBER 2008 TO 31 MAY 2009
Cash used in Operations
Adjustments for:
property
and other receivables
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Activities -------------------- -------------------- --------------------
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-- -- ------
Cash Flows from Investing
Activities
and fittings
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Activities -------------------- -------------------- --------------------
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-- -- ------
Cash Flows from Financing
Activities
share capital
borrowings
borrowings -------------------- -------------------- --------------------
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-- -- ------
Activities -------------------- -------------------- --------------------
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Cash and Cash Equivalents
bank overdrafts at Beginning of Period -------------------- -------------------- --------------------
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-- -- ------
bank overdrafts at end of
period
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End of Period =================================================== ===================================================
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 DECEMBER 2008 TO 31 MAY 2009
The Company is incorporated in the United Kingdom. The address of its registered office is One America Square, Crosswall, London, EC3N 2SG. On 25 June 2009 the Company changed its name to China Gateway International plc. The Company is listed on AIM. This interim financial information was approved for issue on 26 August 2009. This interim financial information has been reviewed, not audited.
The interim financial information set out above does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. It has been prepared on a going concern basis in accordance with the recognition and measurement criteria of the International Financial Reporting Standards (IFRS) as adopted by the European Union. The accounting policies applied in preparing the financial information are consistent with those that have been adopted in the Company's 2008 audited statutory accounts. Statutory accounts for the year ended 30 November 2008 were approved by the Board of Directors on 20 May 2009 and delivered to the Registrar of Companies. The report of the auditors on those accounts was unqualified. The financial information for the 6 months ended 31 May 2009 and the 6 months ended 31 May 2008 has not been audited. As permitted, the Company has chosen not to adopt IAS 34 "Interim Financial Statements" in preparing this interim financial information.
As described below, the accounting policies applied are consistent with those of the annual financial statements for the year ended 30 November 2008, as detailed in those annual financial statements except for the following:
Following the period after releasing the interim financial statements to 31 May 2008, the Company changed its accounting policy with respect to its property under development and reclassified deferred expenditure as an addition to investment property. The property under development was reclassified as investment property held under the fair value model and the subsequent fair value gain was credited directly to the Income Statement. Management judges that this policy provides reliable and more relevant information because it results in a more transparent treatment of these matters. This change in accounting policy has been accounted for retrospectively, and the comparative figures for 31 May 2008 have been restated. The effect of the change on 31 May 2008 is tabulated below.
Effect on 31 May 2008
Balance sheet
expenditure
development
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Effect on 31 May 2008
Balance sheet
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Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings. The following new standards, amendments to standards and interpretations have been issued but are not effective or not yet endorsed for the financial year beginning 1 December 2008 and have not been early adopted:
Going Concern In considering the Company's ability to continue in operations for the foreseeable future, the Directors have considered the Company's forecast operating cash-flows for the period up to the end of May 2010, and the development cash-flows associated with the Company's investment properties over periods appropriate to the development in each case. In the view of the Directors, the Company requires continued financial support in order to continue as a going concern. These condensed Financial Statements have been prepared on a going concern basis in view of the continued support being received from the Company's lending bank, Israel Discount Bank. That support takes the form of facilities available subject to general conditions as described below. The Company's loan facility at the balance sheet date was £30.2 million and this was extended to £31.4 million in July 2009. This facility is subject to review on 31 October 2009. The facility is repayable on demand; however, the bank has confirmed that subject to no breach of covenants, it is their present intention to continue to make this facility available until 30 June 2010. The Directors have reviewed the relevant aspects of the Company's forecasts and the potential development position of the investment property for the period to 30 June 2010 and consider that there should be no breaches of the covenants concerned. In February 2010 the position regarding increased facilities to cover ongoing interest and working capital requirements will be reviewed in the light of progress achieved in negotiations with other investment and funding sources. The Directors are confident of a satisfactory outcome to the ongoing discussions with other investment and funding sources and of the continuing support of the Company's lending bank with whom they continue to have a close and productive business relationship. After making enquiries, and considering the matters described above, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the condensed Financial Statements.
The bank facility at 31 May 2009 was £30.2million. This has subsequently been increased to £31.4million in July 2009. The facility is repayable on demand; however, the bank has confirmed that it is their present intention to continue to make this facility available until 30 June 2010, subject to a review on 31 October 2009.
6 LOSS PER SHARE Basic Basic loss per share is calculated by dividing the loss attributable to equity holders of the Company by the weighted average number of ordinary shares in issue during the period.
holders of the Company -------------------- -------------------- -----------------------------
------- ----
ordinary shares in issue
per share)
shares in issue is the same as for basic earnings per share calculation.
INDEPENDENT REVIEW REPORT TO THE DIRECTORS Auditors review report We have been engaged by the Company to review the condensed set of Financial Statements in the half-yearly financial report for the six months ended 31 May 2009 which comprise the balance sheet, income statement, statement of changes in equity, cash flow statement and related notes. We have read the other information contained in the half-yearly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements. Directors' Responsibilities The half-yearly financial report is the responsibility of, and has been approved by, the Directors. The Directors are responsible for preparing the half-yearly financial report in accordance with the AIM Rules for Companies. The annual Financial Statements of the Company are prepared in accordance with the recognition and measurement criteria of IFRSs as adopted by the European Union. The condensed set of Financial Statements included in this half-yearly financial report has been prepared in accordance with the AIM Rules for Companies. Our Responsibility Our responsibility is to express to the Company a conclusion on the condensed set of Financial Statements in the half-yearly financial report based on our review. This report, including the conclusion, has been prepared for and only for the Company for the purpose of the AIM Rules for Companies. We do not, in producing this report, accept or assume responsibility for any other purpose to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing. Scope of review We conducted our review in accordance with the International Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Auditing Practices Board for use in the United Kingdom. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the condensed set of Financial Statements in the half-yearly financial report for the six months ended 31 May 2009 is not prepared, in all material respects, in accordance with the AIM Rules for Companies. Emphasis of matter - Going concern In forming our conclusion on the condensed set of Financial Statements, which is not qualified, we have considered the adequacy of the disclosure made in the statement on going concern in Note 3 of the condensed Financial Statements. The matters detailed in the disclosures indicate the continued existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern, as reported in the Annual Report and Financial Statements for the year ended 30 November 2008. The Financial Statements do not include the adjustments that would result if the Company was unable to continue as a going concern. Littlejohn LLP Chartered Accountants and Registered Auditors 1 Westferry Circus Canary Wharf London E14 4HD 26 August 2009 For further information, please contact: China Gateway International PLC
Beaumont Cornish Limited
Square 1 Consulting Ltd
This information is provided by RNS The company news service from the London Stock Exchange END
IR QDLFLKVBFBBD More |
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| 26-06-09 | RNS |
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RNS Number : 5977U Commercial Group Properties PLC 26 June 2009
Commercial Group Properties PLC ("Commercial Group", "CGP" or "the Company") Results of general meetings Change of Name and website address At the AGM and the EGM held yesterday, all resolutions were passed. Accordingly, the name of the Company has changed to China Gateway International plc, with ticker CGA. Trading in the Company's shares under the new name will commence on Monday 29 June 2009. The website address at which the information required by AIM Rule 26 will be available is: www.chinagatewayintplc.com Ends For further information, please contact:
Commercial Group Properties PLC
Beaumont Cornish Limited
Square1 Consulting Ltd
This information is provided by RNS The company news service from the London Stock Exchange END
RAGUNSURKORNUAR More |
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| 18-06-09 | RNS |
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RNS Number : 1568U Commercial Group Properties PLC 18 June 2009
Commercial Group Properties PLC ("Commercial Group", "CGP" or "the Company") Substantial Shareholding The Company were informed on 18 June 2009 that as at 28 May 2009 funds under the discretionary management of Laxey Partners Limited on behalf of Credit Suisse Client Nominees UK Ltd and Vidacos Nominees Limited hold 4,817,343 ordinary shares in the Company representing a holding of 22.94% of the Company's issued share capital and voting rights. Ends For further information, please contact:
Commercial Group Properties PLC
Beaumont Cornish Limited
This information is provided by RNS The company news service from the London Stock Exchange END
HOLILFVRRFITLIA More |
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| 16-04-09 | ||||
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Commercail Group Properties (CMGP) is rising nicely today at 57% gain does anyone know what is driving this?
I have seen similar gains in IPI and XXIC all in the property sector. I think it is the positive US property Market which may be driving the recovery in the UK and Europe. More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 12-03-08 | ||||
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Anyone read this article?
http://www.wigantoday.net/wigannews/Chinese-textile-base-unveiled. 3791153.ip More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 12-03-08 | ||||
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Anyone read this article?
http://www.wigantoday.net/wigannews/Chinese-textile-base-unveiled. 3791153.ip More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 03-12-07 | ||||
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Hey all, just a trading novice with a technical question regarding this stock
My Dad is interested in buying but does not have online trading facilities and just wondered who the brokers were and where he could buy the shares as he called his bank and they couldnt do it for him Can anyone give me a phone number or contact? Many thanks More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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They have not been approved or issued by Interactive Investor Trading Limited.
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