H2G Green completes TTJ Greenfuel deal, seeks EGM for revised terms

Payment schedule shortened to three years.

H2G Green said completion of the acquisition of 100% of TTJ Greenfuel by Green Energy Investment Holding Private took place on 27 February, making TTJ Greenfuel a wholly owned subsidiary of Green Energy Investment Holding Private.

The company said the parties signed a variation letter on the completion date to revise the instalment payment schedule for the balance consideration so it will be paid in tranches over three years instead of four.

It also added an option for Green Energy Investment Holding Private to repay the outstanding balance consideration, including accrued interest, at any time after 12 months from completion.

H2G Green said it will convene an extraordinary general meeting to seek shareholder approval for the revised payment schedule and early repayment option, describing them as a material change to key sale and purchase agreement terms previously approved at the 25 April 2024 EGM.

It also said it and RD Property Holdings granted a proportionate corporate guarantee for the remaining balance consideration obligations based on their shareholdings in Green Energy Investment Holding Private of 50.1% and 49.9% respectively.

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