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DGAP-News: De Raj Group AG
/ Key word(s): Strategic Company Decision
11.10.2019 / 08:05
The issuer is solely responsible for the content of this announcement.
De Raj Group invests in Malaysian biomass power plant company
Germany, Cologne, 11 October 2019: De Raj Group AG ("DRJ"; ISIN: DE000A2GSWR1, Vienna Stock Exchange) announces that it has entered into two agreements with a private limited company incorporated in Malaysia engaged in the business of amongst other, renewable energy and electrical power generation ("Company"), and the Company's holding company ("Holding Company"), in relation to DRJ's subscription of convertible preference shares in the Company and its relative shareholding in the Company. Upon completion DRJ will have 35% equity in the Company.
The Company has a subsidiary which is incorporated in Malaysia to undertake (own, manage and operate) a 9.9MW biomass-fueled power plant in Malaysia using proven Japanese technology (the "Plant"). The Plant is expected to sell electricity to the grid and is expected to reduce greenhouse gas emissions by an estimated 43,500 t CO2/year.
Mr Vaidyanathan Nateshan, CEO - De Raj Group AG, said "the Group is active in various key sectors such as conventional power, energy, and renewables; and this subscription of convertible preference shares will help us achieve our ambition to own a portfolio of generation resources across Europe and Asia Pacific with a range of environmentally sustainable solutions."
About DE RAJ
De Raj Group provides oil and gas services and renewable energy solutions to companies in Asia and Europe. The company provides various solutions for the monetization of oil and gas fields to national oil companies, oil field owners, and other technology companies. For more information please visit the corporate website: https://www.thederajgroup.com
De Raj Group (ISIN: DE000A2GSWR1) had initial listing at the EU-regulated Vienna Stock Exchange (IPO held in February 2018). De Raj Group shares are traded on the Open Market in Frankfurt / Main and XETRA since 23 March 2018.
For further information please contact
De Raj Group AG, Investor Relations, mailto: ir@thederajgroup.com
11.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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