Green & Smart Gets Financing Offer From Institutional Investor

16th Mar 2018 13:54

LONDON (Alliance News) - Renewable energy company Green & Smart Holdings PLC said on Friday it has received an indicative offer letter from a new institutional investor to subscribe for 10% of an enlarged Green & Smart following due diligence work.

The company said in January it expects revenue for the year to September 30 to total around MYR45.0 million, or GBP8.3 million, down from MYR67.4 million, or GBP12.4 million, the year before.

Its ability, it said, to develop its projects is dependent of adequate funding and it has not been able to secure sufficient means to do so, leading to the expected drop in revenue.

Shares in Green & Smart Holdings were up 2.9% at 6.30 pence on Friday.

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