1st Jun 2023 17:27
Fulcrum Utility Services Ltd - Cayman Islands-based provider of energy connections and related utility infrastructure - Completes tranche seven of the domestic gas asset transfer to ES Pipelines Ltd for GBP2.2 million. The total gross consideration receivable is expected to be GBP49 million, with GBP36 million having been already received. The arrangement with ES Pipelines includes further milestone targets which, if achieved, would trigger additional enhanced payments of up to GBP3 million over the remaining term of the contract, Fulcrum adds.
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By Heather Rydings, Alliance News senior economics reporter
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