Beijing Energy International (00686) announced that on March 28, 2024 (after the trading period), WSH (a wholly-owned subsidiary of the company) signed a plan implementation agreement with TPC. According to this (among others), WSH has agreed to assist TPC in proposing and implementing the plan and to acquire TPC's total issued share capital in cash through planning arrangements, for a total amount of up to 150 million Australian dollars, including (i) the total initial cost of about 100 million Australian dollars; and (ii) the maximum potential profitability cost is about 50 million Australian dollars.
TPC is a limited liability company incorporated in Australia, and its shares are listed on the ASX (ASX stock code: TPC). TPC is mainly engaged in the energy industry. In particular, through owning and operating CoVau, TPC focuses on the electricity and gas retail industry, and provides competitively priced products to household and enterprise (SMEs and commercial enterprises) customers.