Brief: Photon Energy Finalises Takeover Of Lerta

Photon Energy NV

22/12/2022 07:08

Dec 22 (Reuters) - Photon Energy NV  PENP.WA :
    * SAID ON WEDNESDAY IT HAS COMPLETED FULL TAKEOVER OF LERTA
    * COMPANY CONCLUDED INVESTMENT AGREEMENT WITH TOMALA
INVESTMENTS
AND KRZYSZTOF DROŻYŃSKI (FOUNDERS)
    * UNDER AGREEMENT ADDITIONAL 43.25% EQUITY STAKE IN WILL BE
ACQUIRED BY COMPANY FOR A COMBINATION OF 2.16 MILLION ZLOTYS OF
CASH CONSIDERATION, THE TRANSFER OF 2.3 MILLION TREASURY SHARES
IN COMPANY, AND 1.2 MILLION PHOTON ENERGY SHARES TO BE NEWLY
ISSUED IN AN IN-KIND CONTRIBUTION
    * AS OF END OF 2022, PHOTON ENERGY WILL HOLD 85.62% OF LERTA
AND
GAIN 100% OWNERSHIP FOLLOWING THE COMPLETION OF THE IN-KIND
CONTRIBUTION IN Q1 2023
    * UPON COMPLETION OF TRANSACTION FOUNDERS WILL JOINTLY HOLD
APPROXIMATELY 5.78% OF PHOTON ENERGY FULLY ISSUED SHARE CAPITAL

        
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