RE: Ebioss news11 Oct 2018 09:21
The advances accumulated as of the date of this Relevant Event in relationship with the financial and operational restructuring of the Group: WINTECC EQTEC HERITAGE Smart Waste Gasification New patrimonialist businesses EBIOSS ENERGY, SE
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W W W .AND B I OR S S .C OR M 1. Focus group activity around Smart Waste services and projects, waste gasification and a new patrimonialist line that is in this moment designing This leaves the investment intensity required by the projects owners of energy production. 2. The group has simplified its structure with the following movements in progress: to. Voluntary liquidation of the Syngas Italy company. The plant in Italy is a R & D plant that supposed costs for the company that we are going to liquidate due that has ceased to be part of the core business of the new strategy of the company. b. Putting up for sale energy production and distribution plants biomass in Bulgaria. It will suppose the elimination of such assets, of their financial adequacy requirements, and especially its liabilities associates This operation has been mandated to a financial entity. c. Last Friday, October 5, 2018, the agreement reached was made public on September 14, 2018 to carry out a corporate operation under of which Ebioss has sold its stake in the Winttec SGPS parent company to its minority shareholders, (which is the one that holds the Portuguese subsidiaries and Brazilian) remaining the Spanish, Bulgarian and Greek subsidiaries, together with the Smart Waste technology. d. Subsequently, and by virtue of the financial situation and the forecast of short-term treasury and the difficulties in facing the upcoming maturities by Winttec World and TNL, SL, Spanish subsidiaries of the group, last 8 October 2018, the communication provided for in Article 5 has been submitted Bis of the bankruptcy law before the Court of Barcelona with the aim of making a restructuring plan. and. Completion of personnel restructuring. The current total group template is located around the 33 employees, compared to the 107 employees closing the 2017 3. The Company is finalizing the negotiations for a capital increase not money, by virtue of the General Meeting of July 15, 2018, which I delegate to the Council such power. This expansion will include strategic assets that will allow strengthen the business of Smart Waste since they incorporate own and new production contracts in the Eastern European area to earn in sales margin. It will have as minimum target a capital increase of 10 million euros. 4. Obtaining financing in the subsidiary Eqtec Plc. As announced in the AIM of London through the relevant Relevant Event on September 27, 2018, society has obtained with its lenders to extend up to 10 million pounds its financing, guaranteeing the money needed for the development and enhancement of your pipeline.