Completion of the sale of the
The sale of the
If the sales of its projects are completed, the Company intends to cause its subsidiaries to deliver the net proceeds from the transactions to the Company. Following receipt of such proceeds, the Company intends to complete an initial cash distribution of the majority of the proceeds to the shareholders by way of a return of capital.
If the foregoing transactions are completed, the Company will not have any significant assets or active business operations. The Board may consider pursuing new business opportunities but if no attractive opportunities arise within a reasonable period of time, the Board intends to pursue the settlement of the outstanding liabilities of the Company and effect the dissolution of the Company. Immediately prior to or concurrently with such dissolution, the Board anticipates that it would authorize the distribution of any remaining proceeds from the transactions and any other cash reserves of the Company to the shareholders.
Management Comments
About Etrion
For additional information, please visit the Company's website at www.etrion.com or contact:
Telephone: +41 (22) 715 20 90
Note: The capacity of power plants in this release is described in approximate megawatts on a direct current ("DC") basis, also referred to as megawatt-peak ("MWp").
This information is information that
Regulation. The information was submitted for publication at
Forward-Looking Information:
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the Company's proposed sale of its Japanese solar assets, the distribution of proceeds therefrom and the possible dissolution of the Company) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, without limitation, the ability of the Company to complete the sale of the Japanese assets. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the risk that the Company may not be able to complete the sale of the Japanese assets, effect a distribution of proceeds or dissolve the Company. Reference is also made to the risk factors disclosed under the heading "Risk factors" in the Company's AIF for the year ended
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
https://news.cision.com/etrion/r/etrion-announces-agreement-to-sell-niigata-solar-project-to-japanese-consortium-for-total-cash-consi,c3322509
https://mb.cision.com/Main/2423/3322509/1399282.pdf
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