MI Energy (01555): The second phase of delivery was confirmed on October 11

Zhitong Finance ·  10/12/2023 06:16

Zhitong Financial App News, MI Energy (01555) issued an announcement, on January 20, 2022, the company, the company's wholly-owned subsidiary Palaeontol Co ö peratief U. A. As the seller and its wholly owned subsidiary MIE Maple Investments Limited entered into an agreement with the buyer Hammer Capital Asia Limited, the seller will sell the 40% equity interest in the target company Palaeontol B. V. to the buyer, MIE Maple will transfer the transfer loan to the buyer, and the company will transfer the right, title, interest and benefit to the buyer to transfer the balance of the deferred consideration and delivery amount, and the buyer will pay the consideration to MI Energy for US $55 million.

According to the notice, the conditions for the second phase have been met, so the second phase of delivery was confirmed on October 11, 2023. Accordingly, as at 11 October 2023 (i.e. the date of delivery of the second phase), the consideration amount of the second stage has been offset by an equal amount against part of the outstanding amount payable to the buyer under the Company's MIE loan.

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