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Cleantech Building Materials: Capitalisation of Inter-Company Debt
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 | info@cbm-plc.com |
Keswick Global AG (Certified Adviser) | info@keswickglobal.com |
IFC Advisory Limited (Financial PR) | +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.
