Conclusion of a significant agreement
31-05-2010
The Management Board of BGS Energy Plus announces that on 28 May 2010 its 100% owned subsidiary Energy produkt plus s.r.o. signed a contract that may lead to a purchase of 60% of shares of UTS Biogas, a.s. with UTS International GmbH registered in D-85399 Hallbergmoos, Zeppelinstrasse 8, Germany, and UTS Biogastechnik GmbH registered in D-85399 Hallbergmoos, Zeppelinstrasse 8, Germany.
Main conditions for the operation of this contract are:
- UTS Biogastechnik will finish current projects
- UTS Biogas will setlle outstanding debt
The total contract value is CZK 2,4 mio (EUR 94 thousands).
The contract completion date is expected within 6 weeks.
After the contract completion Energy produkt plus will become 100% owner of UTS Biogas and will continue is future expansion. It is expected that 20% market share will be reached soon within the Czech Republic in biogas technologies. BGS Energy Plus including UTS Biogas has sufficient stuff eperienced in boigas technologies.
Almost all activities within the process of biogas plant construction are done locally in Czech Republic, only some unusual solutions are consulted abroad. It is expected that the co-operation with UTS Biogastechnik will continue on commercial basis as well as with other supplyers of biogas technologies.
After the contract completion UTS Biogas numbers will be fully consolidated with BGS Energy Plus which will result in improved cosolidated numbers of BGS Energy Plus.
Legal basis: Article 3 paragraph 2 point 2 of the Annex 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 " Current and Periodical Information in the Alternative Trading System"
Main conditions for the operation of this contract are:
- UTS Biogastechnik will finish current projects
- UTS Biogas will setlle outstanding debt
The total contract value is CZK 2,4 mio (EUR 94 thousands).
The contract completion date is expected within 6 weeks.
After the contract completion Energy produkt plus will become 100% owner of UTS Biogas and will continue is future expansion. It is expected that 20% market share will be reached soon within the Czech Republic in biogas technologies. BGS Energy Plus including UTS Biogas has sufficient stuff eperienced in boigas technologies.
Almost all activities within the process of biogas plant construction are done locally in Czech Republic, only some unusual solutions are consulted abroad. It is expected that the co-operation with UTS Biogastechnik will continue on commercial basis as well as with other supplyers of biogas technologies.
After the contract completion UTS Biogas numbers will be fully consolidated with BGS Energy Plus which will result in improved cosolidated numbers of BGS Energy Plus.
Legal basis: Article 3 paragraph 2 point 2 of the Annex 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 " Current and Periodical Information in the Alternative Trading System"
