Update on Potential Acquisition

RNS Number : 6659D

Opera Investments plc

28 October 2015

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FOR RELEASE 7 AM

28 October 2015

Opera Investments plc (the "Company")

Potential Acquisition (the "Acquisition") of SoloPower Systems Holdings, Inc. ("SoloPower")

Further to the announcements on 20 July and 1 October 2015 regarding the Acquisition, the Company announces that the transaction documentation is now largely complete.  The Company and SoloPower have therefore commenced the process of investor meetings to raise the equity financing necessary to fund certain future investment and working capital requirements of SoloPower, as referenced in the announcement of 20 July 2015.  The Company expects to present the Acquisition and equity financing proposals to its shareholders for approval during November 2015.  Shareholders should note that there remain a number of matters that the Acquisition is conditional upon to be successfully completed in due course.

Further announcements in relation to the Acquisition will be made as soon as appropriate.

Enquiries:

Opera Investments plc, Paul Dudley, Tel: [phone]

Buchanan (PR), Ben Romney/Bobby Morse, Tel: [phone]

This announcement has been issued by and is the sole responsibility of Opera.

 

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