Notable Pioneer could increase shareholding in Renergen to 24.8%
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.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation