Green & Smart Holdings plc Update on Financing Discussions (0161I)
March 16 2018 - 8:44AM
UK Regulatory
TIDMGSH
RNS Number : 0161I
Green & Smart Holdings plc
16 March 2018
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
16 March 2018
Green & Smart Holdings plc
("Green & Smart" or "G&S" or "the Company")
Update on Financing Discussions
Green & Smart Holdings plc (AIM: GSH), a renewable energy
company generating power from biogas captured through the treatment
of palm oil mill effluent ("POME") in Malaysia, previously
announced that it was in negotiations with local financial
partners. The Company is pleased to report that it has received an
indicative offer letter from a potential new institutional investor
to subscribe for approximately ten per cent. of an enlarged Green
& Smart ("Proposed Subscription") following due diligence at a
price equivalent to a 15 per cent. premium to the volume weighted
average price for the five business day period prior to the
Proposed Subscription.
The Company will provide a further update once the terms of the
Proposed Subscription have been agreed. While the Board is
encouraged by this recent progress, there can be no certainty that
the Proposed Subscription will proceed, nor on the indicative terms
outlined above.
Enquiries
Green & Smart Holdings plc
Saravanan Rasaratnam, Chief Executive
Officer
Navindran Balakrishnan, Chief Operations
Officer +603 2095 0024
Cantor Fitzgerald Europe (Nominated
Adviser and Broker)
Andrew Craig, Richard Salmond +44 20 7894 7000
Luther Pendragon Ltd (Financial
PR)
Claire Norbury, Alexis Gore +44 20 7618 9100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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