Option Agreement Reached on Unialco Stake

RNS Number : 0244N

Clean Energy Brazil PLC

25 August 2011

 

Clean Energy Brazil PLC

Surrender of shares in CEB and grant of option to acquire shares in last remaining investment

25 August 2011

Clean Energy Brazil plc ("CEB"), is pleased to announce that it has granted an option to Unialco S/A to purchase its entire interest in Unialco M/S in return for Unialco S/A's surrender of its 13,863,929 CEB shares, which CEB expects to have cancelled. The option gives Unialco S/A the right to acquire, on or before 30 September 2011, CEB's entire interest  in Unialco MS for US$16 million payable in cash on completion.  Unialco M/S is CEB's last remaining investment.

Further enquiries:

IOMA Fund & Investment Management Limited (Administrator)

Philip Scales                                                                                          Tel: [phone]  

Singer Capital Markets (Nominated Adviser)

Claes Spang                  `                                                                       Tel: [phone]

 

END

 

 

MSCPAMLTMBMTMTB