EAM: Update on the P31 portfolio acquisition closing
31st of March 2014
Reference is made to previous Stock Exchange releases, the 4th quarter financial report and prospectus issued in conjunction with the Private placement conducted in January 2014.
As previously stated, the financial closing of the P31 portfolio was anticipated to be concluded by the end of the 1st quarter 2014. As of today, some of the conditions precedent to closing has not yet been met. Consequently the consummation of the transaction takes longer than originally anticipated.
According to the Share Purchase Agreement the last day of closing is set at the 30th of April 2014 unless the parties decide otherwise. The economics in the transaction will not be affected by a later closing and will be as described in the Information Memorandum dated 14th of January 2014.
The financial closing and subsequent consummation of the acquisition will occur when all conditions precedent to closing have been satisfied or waived.
For further information, please contact:
Viktor E Jakobsen, Executive Director, phone +47 9161 1009, viktor@eamsolar.no
Audun W Iversen, CEO, phone +47 9161 6250, audun@eamsolar.no
About EAM Solar:
EAM Solar ASA is a power company that acquires and operates solar power plants. The Company currently owns four solar power plants in Italy that operate under long-term electricity sales contracts. EAM Solar acquires solar power plants that are commissioned, connected to the grid and in power production at the time of financial close.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.