STRANGER HOLDINGS AGREES TO POSSIBLE ACQUISITION OF ALCHEMY UTILITIES (ALLISS)
[ 29 Aug 2017 12:56 ]
LONDON (Alliance News) – Investment company Stranger Holdings PLC said on Tuesday it has signed a non-binding heads of terms to wholly acquire Ireland-based sustainable utility company Alchemy Utilities Ltd, for the issue of an undisclosed number of new shares in Stranger Holdings.
As the acquisition will constitute a reverse takeover, shares in Stranger Holdings have been suspended.
Shares will reccomence trading once the enlarged company, in which Stranger shareholders will have a minority interest, has applied for its shares to listed to the Main Market.
“Alchemy fits with our investment criteria of being in the renewable power generation arena, is cash generative and would benefit from a listing on the London Stock Exchange. We are now conducting extensive due diligence, which we hope will lead to a fast and seamless acquisition that would be mutually beneficial for both parties,” said Stranger Chairman James Longley.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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