DGAP-News: 3A Finance Plc signs letter of intent to acquire 51% of Gilathron Investments Ltd.
(firmenpresse) - DGAP-News: 3A Finance PLC / Key word(s): Letter of Intent
3A Finance Plc signs letter of intent to acquire 51% of Gilathron
Investments Ltd.
03.10.2011 / 09:30
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Media Release:
3A Finance Plc signs letter of intent to acquire 51% of Gilathron
Investments Ltd.
London/Zürich, 03 October 2011 - 3A Finance PLC is pleased to announce that
it has finalized a letter of intent for the acquisition of an 51% interest
into Gilathron Investments Ltd (trading under the name: Bluenergy Africa).
Bluenergy Africa specializes in off-grid electricity generation on the
African continent where the national grid is not available or incapable of
supplying sufficient power. Bluenergy offers a turnkey service, supplying
electricity generating devices, which are made in accordance with the
specific needs of its customers and take into account the specific location
where the devices are to be deployed.
Bluenergy Africa's fiscal year is set to be from the 01st of July of the
actual year to the 30th of June of the coming year. It is estimating to
complete the fiscal year 2011/2012 with approx. 24,48 million ZAR (2,36
million EUR) in revenues and approx. 8,5 million ZAR (0,82 million EUR) in
net profits, and it is forecasting in 2012/2013 an estimate of 1,65 billion
ZAR (159,2 million EUR) in revenues and approx. 0,3 billion ZAR (29 million
EUR) in net profits.
According to the United Nations Population Fund, the lack of clean and
affordable energy, in developing countries, is a significant barrier to
development and a major contributor to a host of environmental and human
health problems. Some 2 billion people rely on wood, dung and other biomass
fuels for cooking and heating, and use them in polluting and inefficient
ways. In percentage terms, 40% of the world's people lack modern energy
services. In Africa the number exceeds 80%. Unfortunately, nine out of ten
Africans have no access to electricity and rely on traditional sources of
biomass for their energy. These sources themselves are under threat from
overuse, creating additional environmental challenges.
'We believe after the completion of the acquisition by 3A, Bluenergy Africa
will be active all over the African continent' stated Robert Casaletti,
Chief Executive Officer of Bluenergy Africa. He continued: 'We will reach a
total manufacturing capacity of 12,000 units of our Hybrid Systems by mid
2012 and we will be able to sell at least 6,000 units during 2012 with a
100% ramp-up the coming year', he concluded:' Because of the affordability
of our system, we will have a huge demand in Africa as the closest system
(separate PV and Eolic) generating a similar volume of electricity
currently available in the USA, sell for more than double the price of our
hybrid unit.'.
'I am very pleased to have Bluenergy Africa among our divisions' stated
Antonio Galvez, Chief Executive Officer of 3A Finance, he added: 'and I am
extremely proud to complete this acquisition and contribute to the major
development of Africa by delivering affordable hybrid systems that produce
sufficient electricity to cover the existing lack in certain regions of the
African continent'. He concluded: 'We will definitely study the possibility
of creating another manufacturing unit in North Africa in either Morocco or
Tunisia to cope with the Maghreb needs'.
Recent 3A Finance PLCNews:
3A Finance Group has finalized a letter of intent to acquire 51% of TESEO
Systems Ltd.
3A Finance Group has finalized a binding letter of intent for a 12 million
EUR funding with Commerce Financial Inc.
3A Finance PLC
3A Finance PLC is a holding company concentrating on the niche markets of
Africa and the Middle East. The Holding core business is to invest into
innovative companies in several sectors: Financial, Telecom&Networking,
Technology&Internet and Green Energy. The company is intending to follow
an aggressive growth scheme and is prepared to acquire strategic candidates
to enhance its inorganic growth. (Ticker symbol: 3AM, WKN: A1JFJA, ISIN:
GB00B3X7DR65).
Bluenergy Africa.
Bluenergy is an African renewable energy company based in Johannesburg,
South Africa, involved in development, marketing and distribution of
patented devices, which utilize solar, wind, water, and other natural
resources and carbon free technologies to generate electricity. For further
information, please visit the following link:
http://www.bluenergyafrica.com/.
For further information please contact:
Renzo Radice
PETRANIX Corporate and Financial Communications AG
Webereistrasse 31
8134 Adliswil
Tel: +41 44 385 80 24
Email: renzo.radice(at)PETRANIX.com
Safe Harbor Statement; under the Private Securities Litigation Reform Act
of 1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward- looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
End of Corporate News
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