Photon Energy announces the sale of a 1 MWp photovoltaic project in Slovakia
18-02-2011
The Management Board of Photon Energy on 18 February 2011 announces the sale of its 100% equity stake in Energy Profit s.r.o. for a total consideration of EUR 375,000 (CZK 10.443 million, PLN 1.675 million) on 17 February 2011. Photon Energy had acquired Energy Profit s.r.o. on 29 July 2010 (see EBI report 43/2010) but did not initiate its construction.
Photon Energy decided to sell the project in order to redeploy the capital into other photovoltaic projects in Slovakia which are under negotiation and represent a better fit into the company's proprietary project portfolio.
Photon Energy and its board members are unrelated to the private buyer of the project.
Legal basis: § 3 ust.2 point no.2 of the Appendix 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"
Photon Energy decided to sell the project in order to redeploy the capital into other photovoltaic projects in Slovakia which are under negotiation and represent a better fit into the company's proprietary project portfolio.
Photon Energy and its board members are unrelated to the private buyer of the project.
Legal basis: § 3 ust.2 point no.2 of the Appendix 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"
