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OFFON

GENIE ENERGY LTD.

(GNE)
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Genie Energy : Purchase agreement (Form 8-K)

05/14/2021 | 01:27pm EDT
Other Events.

As previously disclosed in the Quarterly Report on Form 10-Q of Genie Energy Ltd. (the 'Company') for the quarter ended March 31, 2021, filed on May 7, 2021 with the Securities and Exchange Commission, on April 26, 2021, a subsidiary of the Company entered into an Equity Purchase Agreement with Hanhwa Q Cells Japan Co., Ltd. ('Hanhwa') providing for the sale of the equity interests in Genie Japan to Hanhwa. The sale was consummated on May 10, 2021. Hanwha paid ¥570.0 million (equivalent to approximately $5.2 million on the closing date) and assumed the obligation to repay Genie Japan's existing credit facility in an amount of approximately ¥150.0 million (equivalent to approximately $1.38 million on the closing date).

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Disclaimer

Genie Energy Ltd. published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 17:26:08 UTC.


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Financials (USD)
Sales 2020 379 M - -
Net income 2020 13,2 M - -
Net cash 2020 36,2 M - -
P/E ratio 2020 16,4x
Yield 2020 3,54%
Capitalization 156 M 156 M -
EV / Sales 2019 0,58x
EV / Sales 2020 0,40x
Nbr of Employees 202
Free-Float 75,2%
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Managers and Directors
Michael Menachem Stein Chief Executive Officer
Avi Goldin CFO, Treasurer & Principal Accounting Officer
Howard S. Jonas Chairman
William Wesley Perry Lead Independent Director
Allan Sass Independent Outside Director
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