Agreement is ok, balance die in jan2015.
NewCO2FUELS
The 2013/14 financial year was an extremely exciting one for the NewCo2Fuels business.
Off the back of successful results in the Stage 1 and 2 testing completed during the year, June 2014
saw Greenearth Energy Ltd (Greenearth) advise that the Group reached a new agreement in respect of its investment in NewCo2Fuels Israel (NCF) as detailed in Note 15 of the Financial Statements.
Under this agreement, Greenearth has commenced payments to NCF, with the first instalment in June 2014 and the remainder of the USD$3m investment due by January 2015.
The investment is subject to partial claw-back by NCF should less than USD$3m be ultimately invested by Greenearth and is detailed further in this report.
On completion of the investment, Erdi Fuels Pty Ltd (Erdi Fuels) and Greenearth will be equal shareholders in NCF at 33.33 percent each and the remaining percentage of NCF Shares will continue to be held by founders, current staff and Yeda Research & Development Co. Ltd. (Yeda), based at the Weizmann Institute in Israel
p7,
http://www.asx.com.au/asxpdf/20141024/pdf/42t4qly5tgpc7w.pdf
dyor
Agreement is ok, balance die in jan2015. NewCO2FUELS The 2013/14...
-
- There are more pages in this discussion • 51 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
