https://www.engineeringnews.co.za
Gas|LNG|Resources
Gas|LNG|Resources
gas|lng|resources

Notable Pioneer could increase shareholding in Renergen to 24.8%

Renergen CEO Stefano Marani

Renergen CEO Stefano Marani

6th November 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Emerging domestic liquefied natural gas (LNG) and helium producer Renergen’s largest shareholder Tamryn Investment Holdings has agreed to sell up to 20-million of the 34-million shares it holds in Renergen to private company Notable Pioneer.

The call option expires on February 5, 2020.

Notable Pioneer is controlled by Hui Ye, who is the chairperson and president of the Beijing Chunhui Yuan Group, a private company with real estate, hotel, natural resources, education and entertainment interests.

Notable already holds a 7.058% interest in Renergen, which is headed up by CEO Stefano Marani.

If Notable Pioneer exercises the call option in full, its shareholding in Renergen will increase to 24.81%, while Tamryn’s shareholding will reduce from 30.23% to 12.47%, based on Renergen’s current issued share capital.

GRANT OF CALL OPTION

The call option, Renergen explained on Wednesday, comprises two tranches of ten-million Renergen shares, with the first tranch to be acquired at a strike price of A$0.86 a share.

The remaining ten-million shares may be acquired at a 20% discount to the 30-day volume weighted average price of shares trading on the ASX.

The price of the call option is capped at A$1.20 per call option share and may not be less than A$0.86 a call option share.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Image of Kenya map/flag
High Grand Falls dam, Kenya
Updated 1 hour 24 minutes ago By: Sheila Barradas

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.176 0.232s - 172pq - 2rq
Subscribe Now