Active Energy Group PLC entered into non-binding heads of terms to acquire Nikofeso Holdings Limited from Windstar Investments S.A. for £2.1 million .
Matteo Girlanda will assume the position of Chief Operating Officer of Active Energy Group on completion. Completion of the acquisition is conditional, on the passing of the resolutions by the shareholders of Active Energy in a general meeting to be held on June 27, 2013 and admission becoming effective by not later than July 31, 2013 and on certain other conditions being satisfied by Windstar prior to such date. Subject to the conditions being satisfied, completion is expected to take place upon admission of shares. Once completed, proposed Acquisition will enhance AEG's earnings. As on June 27, 2013, the transaction was approved at the annual general meeting and general meeting of shareholders of Active Energy Group PLC.
Simon Clements and Catherine Miles of Sanlam Securities UK Limited acted as financial advisor and broker, Tim Robertson and Ben Heath of Novella Communications acted as public relations advisors for Active Energy. Paul Smith and Jonathan Cooper of BDO LLP acted as accountants for Active Energy Group. Sanlam Securities UK Limited acted as financial advisor and Pritchard Englefield Solicitors acted as legal advisor for Active Energy Group. HSBC was the lead banker for Active Energy. Currency conversions have been done using www.oanda.com as of January 9, 2013.