Source: Date: Updated: |
TheBahamasInvestor.com
Monday, September 24, 2012 Monday, September 24, 2012 |
TXO ACQUIRES ADDITIONAL 6.54% SHAREHOLDING IN THE GRAND BAHAMA GROUP AND RECEIVES REPAYMENT OF SHORT TERM LOANS
The board of TXO Plc (“TXO”) is pleased to announce that it has completed a further investment in Grand Bahama Group Limited (“GBG”). The Company has purchased further ordinary shares for a consideration of £350,000. This represents a further 6.54% shareholding in GBG and takes TXO’s equity holding in GBG to 23.64%. The Company has also renegotiated the terms of an option to invest a further £2,615,000 in GBG in return for additional ordinary shares in GBG. The Option expires 31st December 2012 (the “Option”). If the Option is exercised, it would increase TXO’s total holding in GBG to 43.18%.