Admission to AIM - 01/08/1431 Oct 2014 12:34
"The Company is the largest Chinese producer of ammonium sulfite, a chemical which is a key element of the process of manufacturing paper from straw using the ammonium sulfite process. The Company uses waste products from the fertilising and coking industries as its raw material and by-products of manufacturing paper from straw using ammonium sulfite can be turned into fertiliser. As part of the Chinese Government's drive to increase efficiency and reduce emissions, the production of paper using ammonium sulfite is being promoted and accordingly, from 2014 to 2020, sales of ammonium sulfite in China are expected to grow at an annual compound rate of 12%.
The Fundraising will predominantly be used to expand the Company's production capacity of ammonium sulfite to enable it to meet anticipated additional customer demand, the majority of which is already contracted.
The market capitalisation of GTS on Admission at the Placing Price is approximately £36.8 million."