ELECTRIC POWER DEVELOPMENT CO., LTD. April 16, 2021
Electric Power Development Co., Ltd.
Notice Concerning Capital Increase in Subsidiaries
Electric Power Development Co., Ltd. ("J-POWER") hereby gives notice that decided to increase capital in its subsidiaries, J-POWER Jackson Capital, LLC, J-POWER Jackson Partners, LLC, and Jackson Generation, LLC. The Company will increase their capital through its 100%-owned subsidiary J-POWER North America Holdings Co., Ltd., and J-POWER USA Investment Co., Ltd., 100%-owned subsidiary of J-POWER North America Holdings Co., Ltd.
After this capital increase, J-POWER Jackson Capital, LLC, J-POWER Jackson Partners, LLC, and Jackson Generation, LLC will fall under specified subsidiaries as each amount of their capital will be over 10% of J-POWER's capital stock.
1. Reason for capital increase
J-POWER is developing Jackson gas-fired power plants in Illinois, USA through our wholly owned subsidiaries, J-POWER Jackson Capital, LLC, J-POWER Jackson Partners, LLC, and Jackson Generation, LLC. The purpose of this capital increase is to allocate to the payment of the construction cost.
2. Overview of the capital increase
1) Company name | J-POWER Jackson Capital, LLC | ||
2) | Location | Delaware, USA | |
3) | Representative | President & CEO Mark S Condon | |
4) | Business | Management of investment of Jackson gas-firedpower | |
plants in USA | |||
5) Major shareholder | J-POWER USA Investment Co., Ltd. | 100% | |
and equity share | |||
6) | Capital after | 190Million USD | |
capital increase | |||
7) Amount of capital | 72Million USD | ||
increase | |||
8) | Payment date | April 16, 2021 (planned) | |
9) | Equity share after | J-POWER USA Investment Co., Ltd. | 100% |
capital increase | |||
1) Company Name | J-POWER Jackson Partners, LLC | ||||
2) | Location | Delaware, USA | |||
3) | Representative | President & CEO | Mark S Condon | ||
4) | Business | Management of investment of Jackson gas-firedpower | |||
plants in USA | |||||
5) Major shareholder | J-POWER Jackson Capital, LLC | 100% | |||
and equity share | |||||
6) | Capital | after | 190Million USD | ||
capital increase | |||||
7) Amount of capital | 72Million USD | ||||
increase | |||||
8) | Payment date | April 16, 2021 (planned) | |||
9) | Equity share after | J-POWER Jackson Capital, LLC | 100% | ||
capital increase | |||||
1) Company Name | Jackson Generation, LLC | ||||
2) | Location | Delaware, USA | |||
3) | Representative | President & CEO | Mark S Condon | ||
4) | Business | Development of Jackson gas-fired power plants in USA | |||
5) Major shareholder | J-POWER Jackson Partners, LLC | 100% | |||
and equity share | |||||
6) | Capital | after | 190Million USD | ||
capital increase | |||||
7) Amount of capital | 72Million USD | ||||
increase | |||||
8) | Payment date | April 16, 2021 (planned) | |||
9) | Equity share after | J-POWER Jackson Partners, LLC | 100% | ||
capital increase | |||||
3. Impact on J-POWER's consolidated performance
The impact of this capital increase on business performance is minimal.
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Disclaimer
EPDC - Electric Power Development Co. Ltd. published this content on 16 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 April 2021 08:08:04 UTC.
