Variation of Option Agreement

 

TIDMINDY 
 
RNS Number : 6681U 
India Star Energy plc 
29 June 2009 
 

India Star Energy Plc ("India Star" or the "Company") 
 
 
Variation of Option Agreement 
 
 
29 June 2009 
 
 
The Company announced on 10 July 2008 that it had acquired an option to purchase 
100 per cent. of the issued share capital of New Fuels International Limited 
("NFIL"), a specialised development company involved in the creation of 
renewable bio-fuels and bio-energy projects under an agreement (the "Principal 
Agreement"). The option was exercisable before 10 July 2009. Earlier this year 
New Fuels International limited changed its name to NuFuels International 
Limited. 
 
Under an amendment deed dated 29 June 2009 (the "Amendment Deed") it has been 
agreed by all parties that the exercise period of the option be extended by 12 
months to 10 July 2010. In addition the Company has negotiated an increase from 
10 to 15 per cent in the discount rate to be used to determine the acquisition 
price of NFIL shares when the option is exercised. 
 
 
All other terms, conditions and definitions in the Principal Agreement remain 
the same. 
 
 
Enquiries: 
 
 
India Star Energy Plc 
Haresh Kanabar, Chairman 
0207 297 0010 
 
 
W.H. Ireland Limited 
Tim Cofman/Katy Birkin 
0121 265 6330 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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