Apr 2025 Financial News

MPC Caribbean Clean Energy Limited - Sale Purchase Agreement of indirect shareholdings in Paradise Park

Apr 03, 2025

MPC Caribbean Clean Energy Limited (“MPCCEL”) - Notice of Material Change

Please be notified that on 31st October 2024 (“Economic Transfer Date”) MPC Caribbean Clean Energy Limited has entered into the Sale Purchase Agreement (“SPA”) to sell its indirect shareholding in Paradise Park (“the Project”) through its subsidiary EREC Investment Ltd and on 31st March 2025 the transaction has been successfully completed (“Closing Date”).

It is intended that after providing for an appropriate liquidity reserve at the Company and Holding Company level to cover administrative, business expenses, contingencies and to adhere to any legal restrictions, the Company intends to pay out up to 100% of the remaining sales proceeds received from the sale of Paradise Park.

Notwithstanding the foregoing, the parties will agree on the terms of a press release relating to the transaction contemplated by the SPA which will be published within a month of completion.


Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday 3rd April 2025