Share Prices & Company Research

Market News

13 Aug 2019 | 07:50

Hydrodec Group sells Australian plant and equipment to Greenbottle for net A$1.7m

Oil re-refining group Hydrodec Group said it had sold its Australian plant and equipment to Greenbottle for a net A$1.7m, and agreed to licence 'certain other rights' of the assets. The sale followed a strategic review carried out last year, with the company deciding that shareholder equity was better invested behind the US growth plans and therefore initiating a formal process to sell its Australian assets and business. Under the terms of the deal, the company said it expected to receive a net figure of A$1.7m after estimated decommissioning and transportation costs; and had the right to receive a royalty from Greenbottle, for an initial period of 8 years calculated at 5% of revenues derived. The royalty fee was subject to a minimum charge in year 4 of A$30,000 rising to A$150,000 in year 8, the company said.

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.