Trading Emissions PLC Update on Sale of Solar Assets (8895R)

TIDMTRE

RNS Number : 8895R

Trading Emissions PLC

15 December 2016

Trading Emissions PLC

Update on Sale of Solar Assets

Following the announcement made on 2 September 2016, Trading Emissions PLC (the "Company") is pleased to confirm the completion of the sale of a portion of the Italian solar portfolio, held through the Company's subsidiary TEP (Solar Holdings) Limited ("TEPS") to Sonnedix Santa Lucia Srl, a member of the Sonnedix group of companies.

The aggregate net proceeds from the sale, after allowing for transaction costs, amount to EUR8.4 million, of which EUR 3.0 million has been deposited in escrow. If no deductions are made from the escrow account to meet claims under the indemnities provided, EUR1.0 million will be released to TEPS in December 2017 and the remaining EUR2.0 million will be released in December 2018.

The Company was represented and advised in this transaction by ValeCap Srl (http://www.valecap.com/) and Orrick, Herrington & Sutcliffe LLP (http://www.orrick.com).

The Board intends to announce in due course a further distribution to shareholders.

Enquires:

FIM Capital Limited [phone]

(Philip Scales)

Liberum Capital Limited [phone]

(Steve Pearce/ Henry Freeman / Josh Hughes)

This information is provided by RNS

The company news service from the London Stock Exchange

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December 15, 2016 02:00 ET (07:00 GMT)