UK markets open in 7 hours 24 minutes
  • NIKKEI 225

    29,161.80
    +213.07 (+0.74%)
     
  • HANG SENG

    28,842.13
    +103.23 (+0.36%)
     
  • CRUDE OIL

    70.98
    +0.10 (+0.14%)
     
  • GOLD FUTURES

    1,868.60
    +2.70 (+0.14%)
     
  • DOW

    34,393.75
    -85.85 (-0.25%)
     
  • BTC-GBP

    28,671.73
    +977.13 (+3.53%)
     
  • CMC Crypto 200

    1,002.43
    +33.59 (+3.47%)
     
  • ^IXIC

    14,174.14
    +104.72 (+0.74%)
     
  • ^FTAS

    4,074.57
    +6.24 (+0.15%)
     

Cleantech Building Materials: Capitalisation of Inter-Company Debt

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
  • Oops!
    Something went wrong.
    Please try again later.

26 May 2021

CLEANTECH BUILDING MATERIALS PLC, NASDAQ FIRST NORTH GROWTH MARKET, COPENHAGEN

TICKER: CBM
ISIN: GBOOBVIVRR47

CLEANTECH BUILDING MATERIALS PLC

CAPITALISATION OF INTER-COMPANY DEBT

Cleantech Building Materials PLC (“CBM” or the “Company”) announces that it has reached an agreement with its subsidiary, Diamond Wood China Limited (“Diamond Wood”) to capitalise €9,661,496.53 of intercompany debt owed by Diamond Wood to CBM, which has resulted in the issue of 966,149,653 new shares in Diamond Wood at a nominal par value of €0.01 per share to the Company.

Following this debt conversion, the Company’s holding in the capital of Diamond Wood has increased from 97.44% to 98.74%.

On 31 March 2021 Diamond Wood announced the signing of a joint venture agreement and financing of approximately €48 million for the construction of the first Accoya® Wood factory in Asia. Last week, Diamond Wood announced the signing of an investment agreement with the government in Nantong, China for the land, utilities and tax incentives for building a factory capable of producing up to 480.000 m3 of Accoya® Wood.

THE DIRECTORS OF CLEANTECH BUILDING MATERIALS PLC ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

Further information may be found at the Company's website at www.cbm-plc.com

Further Enquiries:

Cleantech Building Materials plc
Adrian Wyn-Griffiths

info@cbm-plc.com
+44 20 3934 6630



Keswick Global AG (Certified Adviser)

info@keswickglobal.com
+43 1 740 408045



IFC Advisory Limited (Financial PR)
Tim Metcalfe
Zach Cohen

+44 20 3934 6630

The information communicated in this announcement is “inside information” for the purposes of article 7 of the Market Abuse Regulation 596/2014.