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BRIEF-Vsolar Group says co entered into JV Agreement with UTM
April 11, 2017 / 10:17 AM / 8 months ago

BRIEF-Vsolar Group says co entered into JV Agreement with UTM

April 11 (Reuters) - Vsolar Group Bhd:

* VGB has on 11 April 2017 entered into a joint venture agreement with UTM

* The proposed JVA will have no material effect to the earnings per share of the company for the financial year ending 30 June 2017

* JV company shall be held 80 percent by Vsolar Group Berhad and 20 percent by Universiti Teknologi Malaysia

* JV co shall be financed by subscription of new ordinary shares and/or redeemable convertible preference shares and loans

* Parties to form special purpose vehicle to be jointly owned by parties to develop solar energy generation facilities with capacity of up to 30 megawatts

* Parties to conduct research and development on “solar energy generation technology and solar plant installation and construction design”

* VGB shall allocate a sum of up to 2 million RGT to the JV co Source text: (bit.ly/2on6n3V) Further company coverage:

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