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Jade Road Investments Ltd - Hong Kong-based investment vehicle - Gets third and final tranche payment of USD400,000 from Meize Energy Industries Holdings Ltd. Following the deal, Jade now holds a 6.3% interest in Meize.
In June, Jade sealed the partial divestment in Meize with an offload of 112,500 shares for a total consideration of USD1.2 million, representing a 12% stake.
"This divestment demonstrates that Jade has the expertise and in-country resources to work closely with portfolio companies to achieve investment returns. Our investment management team continues to focus on realisations from other portfolio companies and I look forward to providing updates on progress in due course," says Chair John Croft.
Current stock price: 6.50 pence, down 3.7% on Thursday
12-month change: down 70%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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