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    RNE   AU000000RNE2

RENU ENERGY LIMITED

(RNE)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/21
0.084 AUD   -8.70%
01/21ReNu Energy Shareholder Share Purchase Plan Due To Close Soon
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2021RENU ENERGY : Application for quotation of securities - RNE
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ReNu Energy Limited entered into an agreement to acquire Countrywide Renewable Hydrogen Limited for AUD 11 million.

11/10/2021 EST

ReNu Energy Limited (ASX:RNE) entered into a Share Purchase Agreement to acquire Countrywide Renewable Hydrogen Limited for AUD 11 million on November 10, 2021. ReNu Energy will issue 134.65 million fully paid ordinary shares at AUD 0.0688 per share. At completion, the Countrywide Renewable Hydrogen Founders and the holders of Countrywide Renewable Hydrogen convertible notes who will convert into Countrywide Renewable Hydrogen shares immediately before global completion (CRH Noteholders) will receive the Consideration Shares. On completion of the acquisition, ReNu Energy will appoint two members to the ReNu Energy Board of Directors nominated by Countrywide Renewable Hydrogen. Countrywide Renewable Hydrogen proposes to nominate current Managing Director Geoffrey Drucker as an Executive Director and Countrywide Renewable Hydrogen’s Non-executive Chair Susan Oliver AM as a Non-executive Director. As on December 17, 2021, agreement by Countrywide Renewable convertible noteholders to sell their shares in Countrywide Renewable to ReNu Energy on conversion of their Countrywide Renewable convertible notes. Independent Expert’s opinion that the proposed acquisition is fair and reasonable. As of January 11, 2022, agreement signed by the CRH convertible noteholders to sell their shares in CRH to ReNu Energy on conversion of their CRH convertible notes. Each of the three existing CRH shareholders and founders (CRH Founders) entering into an Escrow Deed for the voluntary escrow of: 100% of the ReNu Energy Shares they will receive as consideration for the acquisition of CRH (Consideration Shares) for 12 months from the date of completion of the acquisition; 75% of their Consideration Shares for 18 months from completion; and 50% of their Consideration Shares for 24 months from completion. Each of the CRH Founders entering into employment agreements with ReNu Energy. Transaction is subjected to approval of offer by ReNu Energy's shareholder at the general meeting to be held on February 1, 2022. The transaction is expected to be completed in December 2021. ReNu Energy appointed BDO Corporate Finance Ltd as the Independent Expert to provide advice on fairness opinion and advised that that the proposed transaction is fair and reasonable.


ę S&P Capital IQ 2021
All news about RENU ENERGY LIMITED
01/21ReNu Energy Shareholder Share Purchase Plan Due To Close Soon
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2021RENU ENERGY : Application for quotation of securities - RNE
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2021ReNu Energy Investing in Battery Technology Company
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2021ReNu Energy to Acquire 100% of Countrywide Renewable Hydrogen Limited
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2021ReNu Energy Acquiring Australian Green Hydrogen Business; Shares Jump 40%
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2021ReNu Energy Limited entered into an agreement to acquire Countrywide Renewable Hydrogen..
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2021RENU ENERGY : Completes First Tranche of Investment in Enosi Australia
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More news
Financials
Sales 2021 - - -
Net income 2021 -1,00 M -0,72 M -0,72 M
Net cash 2021 2,35 M 1,69 M 1,69 M
P/E ratio 2021 -6,37x
Yield 2021 -
Capitalization 13,4 M 9,63 M 9,60 M
EV / Sales 2020 -3,25x
EV / Sales 2021 -
Nbr of Employees -
Free-Float -
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Managers and Directors
Greg Watson Chief Executive Officer & Secretary
Boyd White Non-Executive Chairman
Tony Louka Non-Executive Director
Tim Scholefield Executive Director
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