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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Magnis Energy Technologies Limited    MNS   AU000000MNS3

MAGNIS ENERGY TECHNOLOGIES LIMITED

(MNS)
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Magnis Energy Technologies : New York Lithium-ion Battery Plant Transaction Complete

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07/01/2020 | 11:08am EDT

Magnis Energy Technologies Limited ('Magnis', or the 'Company') (ASX: MNS) is pleased to announce that it has completed the transaction to increase its shareholding in the iM3 New York (iM3NY) Battery Plant as announced on 16 March 2020.

The composition of iM3NY at the completion of the transaction, places Magnis with a 53.39% direct holding. C4V will have a direct holding of 45.18% with Primet Precision Materials Inc and C&D Assembly Inc the remaining holders.

Magnis remains a 10% shareholder of C4V following this transaction, thus the ownership in iM3NY on a direct and indirect basis for Magnis will now be 57.91%.

This announcement has been authorised for release by the Board of Magnis Energy Technologies Ltd.

Contact:

Frank Poullas

Tel: +61 2 8397 9888

Web: www.magnis.com.au

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2019 - - -
Net income 2019 -5,55 M -3,98 M -3,98 M
Net cash 2019 1,83 M 1,31 M 1,31 M
P/E ratio 2019 -20,7x
Yield 2019 -
Capitalization 136 M 97,7 M 97,7 M
EV / Sales 2018 9 825 906x
EV / Sales 2019 -
Nbr of Employees 17
Free-Float -
Income Statement Evolution
Managers
NameTitle
Frank Houllis Chief Executive Officer
Frank Poullas Executive Chairman
Peter Tsegas Non-Executive Director
Stanley M. Whittingham Non-Executive Director
James Dack Executive Director