DGAP-News: World Energy Holdings&Research PLC announces completion of due diligence by its subsidiary World Energy Hydro Limited in respect of Central American Hydro Electric Power Plant Project acquisitions
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World Energy Holdings&Research PLC announces completion of due
diligence by its subsidiary World Energy Hydro Limited in respect of
Central American Hydro Electric Power Plant Project acquisitions
14.04.2011 / 17:30
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World Energy Holdings&Research PLC announces completion of due diligence
by its subsidiary World Energy Hydro Limited in respect of Central American
Hydro Electric Power Plant Project acquisitions.
On 31 January 2011 World Energy Holdings&Research PLC ('WEHR' or the
'Company') announced the signing of a Letter of Intent by its subsidiary
World Energy Hydro Limited ('WEH') to acquire controlling interests in 5
Hydro Electric Power Plant special purpose entities in Central America.
WEHR is pleased to announce that WEH has now completed its due diligence
concerning the Hydro Pack Entities (World Energy El Islan, S.A., World
Energy Sosi, S.A., World Energy Ixtaguacan, S.A., and World Energy Semuc,
S.A.) including the review of audited financial statements for each project
entity. A price for the acquisition of controlling interests in these
entities has been agreed and legal documentation is currently being
finalised. The relevant sale and purchase agreement will remain
conditional upon WEHR shareholder approvals.
'With the completion of the audited financial statements for each project,
we are pleased to have progressed the acquisition of these project
interests to their final stages and look forward to completion', says WEHR
Chief Financial Officer Andy Samoza.
About World Energy Holdings&Research PLC
World Energy Holdings&Research PLC (ISIN GB00B50QMR32, WKN A1C9BX, 0WE )
is a public limited company incorporated in England focusing on the
development of power plants, specifically in Central and Latin America.
World Energy Holdings&Research PLC is admitted to trading on the
Frankfurt Stock Exchange's Entry Standard (Open Market) under symbol '0WE'
(Zero 'W' 'E'). http://www.wehr.com
Disclaimer:
This press release is solely for informational purposes and does not
constitute an an offer to sell or a solicitation of an offer to buy any
securities of WEHR. No regulatory authority has approved the press release.
This press release contains forward-looking statements. Forward-looking
statements are not statements of historical fact and reflect the current
assessments, views, assumptions and beliefs made by WEHR or its officers
according to the information available as of the date of this press release
about future events, operating performance, financial condition, business
strategy, WEHR's plans and objectives for future operations and the
industry in which it operates. Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors which may cause
actual outcomes to differ materially from those suggested in this press
release. WEHR undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information, future
events or developments or otherwise. All subsequent written and oral
forward-looking statements attributable to WEHR and those acting on its
behalf, are expressly qualified in their entirety by the foregoing.
Enquiries to:
World Energy Holdings&Research PLC Brandon Francis, VP of Global
Relations Tel: +502-2378-6400
End of Corporate News
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14.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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120053 14.04.2011
Datum: 14.04.2011 - 17:30 Uhr
Sprache: Deutsch
News-ID 33796
Anzahl Zeichen: 0
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Kategorie:
Business News
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