Trading Emissions PLC Update on Sale of Solar Assets (8895R)
15 December 2016 - 6:00PM
UK Regulatory
TIDMTRE
RNS Number : 8895R
Trading Emissions PLC
15 December 2016
Trading Emissions PLC
Update on Sale of Solar Assets
Following the announcement made on 2 September 2016, Trading
Emissions PLC (the "Company") is pleased to confirm the completion
of the sale of a portion of the Italian solar portfolio, held
through the Company's subsidiary TEP (Solar Holdings) Limited
("TEPS") to Sonnedix Santa Lucia Srl, a member of the Sonnedix
group of companies.
The aggregate net proceeds from the sale, after allowing for
transaction costs, amount to EUR8.4 million, of which EUR 3.0
million has been deposited in escrow. If no deductions are made
from the escrow account to meet claims under the indemnities
provided, EUR1.0 million will be released to TEPS in December 2017
and the remaining EUR2.0 million will be released in December
2018.
The Company was represented and advised in this transaction by
ValeCap Srl (http://www.valecap.com/) and Orrick, Herrington &
Sutcliffe LLP (http://www.orrick.com).
The Board intends to announce in due course a further
distribution to shareholders.
Enquires:
FIM Capital Limited +44 (0) 1624 681250
(Philip Scales)
Liberum Capital Limited +44 (0) 20 3100 2222
(Steve Pearce/ Henry Freeman / Josh Hughes)
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISDMMMZNDVGVZM
(END) Dow Jones Newswires
December 15, 2016 02:00 ET (07:00 GMT)
Ft Tre (LSE:TRE)
Historical Stock Chart
From Apr 2024 to May 2024
Ft Tre (LSE:TRE)
Historical Stock Chart
From May 2023 to May 2024