Brief: Altri Enters Memorandum Of Understanding With V-R Europe For Greenvolt's Capital Increase

Altri, SGPS

04/05/2021 07:07

May 4 (Reuters) - Altri SGPS SA  ALSS.LS :
    * SAID ON MONDAY IT ENTERED WITH ITS WHOLLY-OWNED SUBSIDIARY
GREENVOLT INTO MEMORANDUM OF UNDERSTANDING (MOU) WITH V-RIDIUM
EUROPE TO CONDUCT SHARE CAPITAL INCREASE IN GREENVOLT IN THE
CONTEXT OF ITS IPO 
    * THE MEMORANDUM OF UNDERSTANDING HAS A NON-BINDING NATURE 
    * CAPITAL INCREASE MAY TAKE PLACE AS NEW ENTRIES IN KIND,
CONSTITUTED BY THE TOTALITY OF THE SHARES REPRESENTING THE SHARE
CAPITAL AND VOTING RIGHTS OF ITS SUBSIDIARY V-RIDIUM POWER GROUP
    * SUBSCRIPTION PRICE WOULD CORRESPOND TO THE MAXIMUM PRICE
INTERVAL TO BE ESTABLISHED WITHIN THE SCOPE OF GREENVOLT’S IPO,
BASED ON V-RIDIUM ASSESSMENT OF 56 MILLION EURO 
    * TO THIS AMOUNT, 14 MILLION EURO MAY BE ADDED , SUBJECT TO
CERTAIN CONDITIONS TO BE AGREED BETWEEN THE PARTIES
    * AS A RESULT, GREENVOLT WILL HOLD THE ENTIRE SHARE CAPITAL
AND
VOTING RIGHTS OF V-RIDIUM
    * V-R EUROPE WOULD TURN INTO A QUALIFIED SHAREHOLDER OF
GREENVOLT,
IN A PERCENTAGE ONLY DETERMINABLE AT THE IPO
    * GIVEN THE NON-BINDING NATURE OF THE MOU AND THE APPLICABLE
CONDITIONS PRECEDENT, THERE IS STILL NO CERTAINTY ON COMPLETION
OF THE PROJECTED OPERATION
    * V-R EUROPE GRANTED IN THE MOU EXCLUSIVITY TO ALTRI AND
GREENVOLT
IN THE NEGOTIATIONS WITH A VIEW TO CONCLUDING THE TRANSACTION,
UNTIL OCTOBER 31, 2021

    
 Source text: https://bit.ly/3tbYE6N
    
 Further company coverage:  ALSS.LS  


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