Lloyds Metals has issued a clarification regarding its sale of shares and claims agreement with Lloyds Global Resources FZCO (LGRF). The announcement addresses the acquisition of up to 50% equity stake in Nexus Holdco FZCO by LGRF. Of the total agreement size of USD 90.8 Million, USD 53.6 Million will be allocated towards share purchases, with the remaining funds used for loan infusion by LGRF into the operating company.
Clarification on Investment Details
Lloyds Metals has released a clarification concerning the agreement with Lloyds Global Resources FZCO (LGRF) regarding the acquisition of equity stake in Nexus Holdco FZCO.
Details of the Agreement
The clarification pertains to the intended acquisition of up to 50% equity stake in Nexus Holdco FZCO by LGRF. The total agreement is valued at USD 90.8 Million.
Allocation of Funds
According to the announcement, USD 53.6 Million out of the total agreement size is earmarked for the purchase of shares. The remaining amount will be utilized by LGRF to infuse loans into the operating company.
Source: BSE
