Gowin New Energy Group Ltd on Friday said the company entered into a loan agreement with its Chief Executive Officer Chen Chih-Lung.

The New Taipei, Taiwan-based producer and supplier of LED lighting fixtures said Chen provided NT$500,000, approximately £12,192, to the company at an interest rate of 2.0% per year.

The loan, which will provide short term liquidity to allow Gowin to meet payment obligations, is repayable in twelve months although extendable by mutual consent.

Gowin shares were flat at 0.01 pence each on the Aquis exchange on Friday afternoon.

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