DE/RE announces change of Corporate Structure
(firmenpresse) - DE/RE announces change of Corporate Structure
In December 2009 the management of DE RE has decided to enter into negotiations with the management of BEBRA BV to restructure its ownership in BEBRA.
During 2009 BEBRA has successfully developed a client base especially in Solar technology and Organic Waste Treatment but the project financing needed and offered by third parties could not be completed in combination with financing needs for DE/RE.
The Management of DE RE experienced that potential investors in DE RE wish to decide on strategic investments in the holding or like to participate as end-user in a project. As a result DE RE and BEBRA agreed to structure the companies more independently whereby third parties especially can participate in direct projects.
In the course of February 2010 the formal procedures have been finalized on this matter and as a result management of BEBRA acquired 75 % of the shares back under the arrangement that all earn-out arrangements to be paid by DE RE are reversed.
The holdings in BREBA are kept at 25 % which is approx. the equivalent of the earlier holdings and also DE RE has brought the operational responsibilities back to management. The management of DE RE will manage this investment as a strategic holding.
The BEBRA transaction has not effected the numbers of outstanding shares or existing lockup arrangements.
Other Developments
DERE management is negotiating various business developments especially in the area of waste treatment including nuclear waste, wind and solar. Recently DERE has also been approached to participate in raw materials and mining opportunities. Raw materials, mining and nuclear waste treatment are extremely promising and has been developed as a spin off from DERE’s waste management activities.
Involved parties have restricted further news releases at this moment.
Swiss Hawk AG
Recently the Swiss authorities formally announced the liquidation of Swiss Hawk AG. The Board of DE RE follows closely this development and has agreed with the Swiss regulators to release final details on this event jointly when all formal requirements have been fulfilled. The Board does not expect significant changes in the position for shareholders of Swiss Hawk other than earlier announced. Final announcements on this matter are expected by the end of March 2010.
Business Update
A specific business update on the results of 2009 and the forecast for 2010 will be released in April 2010.
London, March 1st 2010
Deutsche Environmental & Renewable Energy PLC 2nd Floor, Lynton House
7-12 Tavistock Square
London WC1H 9BQ
United Kingdom
email: info(at)dere-group.com
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DE/RE Energy PLC
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