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MarketScreener Homepage  >  Equities  >  Xetra  >  MBH Corporation PLC    M8H   GB00BF1GH114

MBH CORPORATION PLC

(M8H)
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MBH : and Asia Pacific Energy Venture Pte Ltd announce demerger

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04/22/2020 | 11:15am EDT

DGAP-Ad-hoc: MBH Corporation Plc / Key word(s): Miscellaneous
MBH Corporation PLC and Asia Pacific Energy Venture Pte Ltd announce demerger

22-Apr-2020 / 17:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


MBH Corporation PLC and Asia Pacific Energy Venture Pte Ltd announce demerger

London, 22 April 2020 - MBH Corporation plc ("MBH") and Asia Pacific Energy Ventures Pte Ltd ("APEV") announce their amicable and mutual agreement to demerge with immediate effect.

On 17 June 2019, MBH (a diversified investment holding company) announced the acquisition of APEV (a provider of EPC power and energy solutions in the Pacific) in an all stock deal.

Since the acquisition, it has become apparent that the business strategies of MBH and APEV are moving in different directions, and the key stakeholders agree it is in the current best interest of both parties to separate. Accordingly, by mutual agreement, APEV will demerge from the MBH group. The consideration that was due to be paid to APEV shareholders will not be paid.

The total number of shares on issue currently is 44,997,305. MBH expects the number of shares to increase subject to the finalisation of the audits for KS Training Ltd, UK Sports Training Ltd and Guildprime Specialist Contracts Ltd.

MBH expects to release key financial results for the year ended 31 December 2019 (which will exclude APEV) on 30 April 2020. The audited annual report 2019 will now be published on 29 May 2020.

Contact: MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953
 


Information and Explanation of the Issuer to this News:

The Directors and stakeholders of MBH and APEV take this opportunity to acknowledge the highly effective manner in which all parties have collaborated over the last 10 months; and the co-operative way they have worked to implement the demerger.

Callum Laing, CEO of MBH noted:

'APEV is a fantastic company and we have enjoyed having them as part of our group over this past year and wish them every success going forward. MBH remains focused on our strategy of developing the other companies in the group and continuing to add more great companies to our portfolio.'

Nathan Daly, COO of APEV noted:

'APEV management are pleased to have been associated with MBH over the last year as our business strategy has evolved, with an increasing focus on large infrastructure projects in the Pacific's emerging power generation sector. Should our strategic interests align in the future, APEV would welcome the opportunity to work more closely with MBH again.'

About MBH

MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges. The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent and accretive acquisition of excellent companies.

www.mbhcorporation.com


Contacts for IR and media enquiries:

MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953

Kirchhoff Consult AG, Nicole Schüttforth, nicole.schuettforth@kirchhoff.de, +49 (0)40 609186 64
 


22-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: MBH Corporation Plc
Studio 7-9, Royal Patriotic Victoria Building, Joh
SW18 3SX London
United Kingdom
E-mail: fo@mbhcorporation.com
Internet: https://www.mbhcorporation.com/
ISIN: GB00BF1GH114
WKN: A2JDGJ
Listed: Regulated Unofficial Market in Dusseldorf, Frankfurt
EQS News ID: 1027675

 
End of Announcement DGAP News Service

1027675  22-Apr-2020 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1027675&application_name=news&site_id=zonebourse

© EQS 2020
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NameTitle
Callum Arthur Michael Laing Chief Executive Officer & Executive Director
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