Green & Smart Holdings plc Change in Significant and Director Shareholdings (3840J)
December 04 2018 - 5:38AM
UK Regulatory
TIDMGSH
RNS Number : 3840J
Green & Smart Holdings plc
04 December 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.
4 December 2018
Green & Smart Holdings plc
("Green & Smart" or "the Company")
Change in Significant Shareholding and
Director / PDMR Shareholding
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, announces that it
has been notified that Serba Dinamik Group Berhad ("SDGB"), a
wholly-owned subsidiary of Serba Dinamik Holdings Berhad ("SDHB"),
has purchased from K2M Ventures Sdn Bhd ("K2MV"), a company wholly
owned by Mr Saravanan Rasaratnam (CEO and a director of the
Company) and Mr Navindran Balakrishnan (COO and a director of the
Company), 34,537,581 ordinary shares of no par value ("Ordinary
Shares") in Green & Smart (the "Share Purchase"), representing
10.0% of the issued share capital of the Company. The conditions
precedent to the Share Purchase have been fulfilled and the Share
Purchase is due to settle within seven (7) days from 4 December
2018. The Share Purchase was at a price of 6.97 pence per share,
being equal to the five-day volume weighted average price of the
Company's shares on AIM up to and including 13 November 2018.
SDHB is a Malaysia-based investment holding company focused on
the energy services industry. Serba Dinamik International Limited
("SDIL"), a significant shareholder in the Company, is a
wholly-owned subsidiary of SDHB. Following the Share Purchase,
SDHB, through its ownership of SDGB and SDIL, has a beneficial
interest in 86,343,581 Ordinary Shares in Green & Smart,
representing 25.0% of the issued share capital of the Company.
Under the terms of the share purchase agreement, SDGB is
entitled to appoint one non-executive director to the Company's
Board of Directors. The appointment of the nominated non-executive
director will be subject to the usual regulatory requirements for
an AIM listed company.
The Company has also revised the terms of the Continuing Lock-in
Agreement, detailed within the Company's admission document dated 6
May 2016, such that the 34,537,581 Ordinary Shares to be held by
SDGB are subject to the terms of the Continuing Lock-in Agreement,
under which SDGB has agreed not to dispose of any interest in any
Ordinary Shares held by it unless a legal opinion is obtained from
the Company's Malaysian lawyers in terms satisfactory to the
Company and Cantor Fitzgerald Europe that no member of the Company
is subject to any restriction on foreign ownership under the
Malaysian Renewable Energy (Feed-in Approval and Feed-in Tariff
Rate) Rules 2011 (as amended, extended or re-enacted from time to
time).
Following the Share Purchase, K2MV has an interest in
112,319,753 Ordinary Shares representing 32.5% of the Company's
issued share capital. Following the Share Purchase, Mr Rasaratnam
and Mr Balakrishnan, through their direct and indirect holdings,
have a beneficial interest in 68,003,211 and 68,003,210 Ordinary
Shares respectively, representing 19.7% and 19.7% of the issued
share capital of the Company respectively.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr Saravanan Rasaratnam (Held through
K2M Ventures Sdn Bhd)
------------------------------- --------------------------------------
2. Reason for the Notification
-----------------------------------------------------------------------
a) Position/status Chief Executive Officer and Director
------------------------------- --------------------------------------
b) Initial notification/Amendment Initial
------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Green & Smart Holdings plc
------------------------------- --------------------------------------
b) LEI 213800VRBEM772RI6T86
------------------------------- --------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------
a) Description of the Ordinary shares of no par value
Financial instrument,
type of instrument
Identification code JE00BYTQ7945
------------------------------- --------------------------------------
b) Nature of the transaction Sale of shares
------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
6.97 pence 17,268,790
-----------
------------------------------- --------------------------------------
d) Aggregated information:
* Aggregated volume 17,268,790 shares
6.97 pence per ordinary share
* Price
------------------------------- --------------------------------------
e) Date of the transaction 4 December 2018
------------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr Navindran Balakrishnan (Held through
K2M Ventures Sdn Bhd)
------------------------------- ----------------------------------------
2. Reason for the Notification
-------------------------------------------------------------------------
a) Position/status Chief Operating Officer and Director
------------------------------- ----------------------------------------
b) Initial notification/Amendment Initial
------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Green & Smart Holdings plc
------------------------------- ----------------------------------------
b) LEI 213800VRBEM772RI6T86
------------------------------- ----------------------------------------
4. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value
Financial instrument,
type of instrument
Identification code JE00BYTQ7945
------------------------------- ----------------------------------------
b) Nature of the transaction Sale of shares
------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
6.97 pence 17,268,791
-----------
------------------------------- ----------------------------------------
d) Aggregated information:
* Aggregated volume 17,268,791 shares
6.97 pence per ordinary share
* Price
------------------------------- ----------------------------------------
e) Date of the transaction 4 December 2018
------------------------------- ----------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ----------------------------------------
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)
Phil Davies, 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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