Brief: Swedish Stirling Signs Letter Of Intent With South African Development Bank

Swedish Stirling AB

29/11/2019 13:58

Nov 29 (Reuters) - Swedish Stirling AB  STRLNG.NGM :
    * SWEDISH STIRLING SIGNS LETTER OF INTENT WITH A SOUTH
AFRICAN
DEVELOPMENT BANK
    * SIGN A LETTER OF INTENT ABOUT FORMING A JOINTLY OWNED
FINANCING/LEASING COMPANY IN SOUTH AFRICA
    * NEW COMPANY WILL INITIALLY BE ABLE TO FINANCE DEALS IN
AFRICA
FOR UP TO 100 PWR BLOK UNITS.
    * NEW COMPANY TO GO BY NAME SOUTHERN SHIELD
    * SWEDISH STIRLING WILL INITIALLY OWN 51 PERCENT OF SOUTHERN
SHIELD, BUT ITS SHARE WILL BE SYSTEMATICALLY DILUTED TO NO LESS
THAN 25% + 1 SHARE
    * FORMATION OF SOUTHERN SHIELD IS SUBJECT TO APPROVAL BY IDC
CREDIT COMMITTEE AND THAT PARTIES ENTER INTO NECESSARY
AGREEMENTS

Source text for Eikon:  ID:nWkr7zpN3r 
Further company coverage:  STRLNG.NGM 

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