27 Nov 2013 15:21
New Trend Lifestyle Group Plc
("NTLG" or the "Company")
Director's Share Pledge
New Trend Lifestyle Group Plc (AIM: NTLG) announces that its director and controlling shareholder Mr Phang Song Hua has obtained a short term loan from Hao Tian Development Group Limited ("Hao Tian") in the sum of HK$6 million (approximately £477,000).
Hao Tian is the subsidiary of a substantial company (Ha Tian Resources Limited) listed on the HK Stock Exchange. As security for the loan, which is expected to be paid back within 6 months, Mr Phang has pledged, in favour of Hao Tian, 54,721,333 shares of NTLG representing approximately 54% of the entire issued share capital of NTLG.
The Board, other than Master Phang, has considered the proposed arrangements and the reasons for it and has confirmed that they are in agreement.
The Directors of the issuer accept responsibility for this announcement.
For further information please contact:
New Trend Lifestyle Group Plc Ajay Rajpal Tel: +65 6533 5082 | |
Zeus Capital Limited | |
(Nominated Adviser and Broker) | |
Ross Andrews | |
Andrew Jones | |
Tel: +44 (0) 161 831 1512 | |