GLOBAL ECOPOWER : FULFILMENT OF THE CONDITION PRECEDENT RELATING TO THE SALE OF GLOBAL ECOPOWER SHARES (AcT)

Meyreuil (France), October 17, 2018. A settlement agreement was signed on October 16, 2018 between the company Global EcoPower (Euronext Growth - FR0011289198 - ALGEP) and some of its significant non-executive shareholders, under the aegis of the Commercial Court of Aix en Provence, ending difficulties relating in particular to the application of the rules on shareholder identification and transparency.

In addition, the execution of the "Share Transfer Agreement" entered into on September 28, 2018 between these significant non-executive shareholders and new shareholders was subject, as a condition precedent, to the signature of the settlement agreement ( October 2018 press release). As this signature has taken place, the "Share Transfer Agreement" is now effective. The amount of the sale concerns 38.55% of the share capital, i.e. 2,543,300 shares.

Jean-Marie SANTANDER, President and CEO: "After more than ten months of tension and intense proceedings, the Court of Aix-en-Provence succeeded in reconciling Global EcoPower and the transferors referred to below, within the framework of a "conciliation protocol by transactional means". I would particularly like to thank the Court of Aix-en-Provence for its patience and professionalism in bringing this conciliation to a successful conclusion, which required four meetings at the Court. Global EcoPower will find the serenity necessary for its development. I am particularly pleased with this agreement and welcome the new shareholders. Finally, the group I chair will now be able to develop in a calm atmosphere. All employees are also pleased with this positive and constructive outcome for the Group".

On October 16, 2018, Global EcoPower and its President and CEO, Mr Jean-Marie SANTANDER, entered into a settlement agreement with several of its significant non-executive shareholders, including, in particular, Mr Gauthier Jean Guillaume HUET, the company SEMPER FINANCE GROUP (acting on behalf of its clients for whom it manages the portfolios), Mr Nevil von TSCHARNER, and Mr Richard von TSCHARNER, putting an end to several difficulties between the parties. These difficulties related in particular to the application of the rules on the identification and transparency of shareholders. This settlement agreement was signed under the aegis of the Commercial Court of Aix en Provence. 

The signature of the settlement agreement was the condition precedent of a "Share Transfer Agreement" dated September 28, 2018, to which the company Global EcoPower is not a party.

As this condition has been lifted, the "Share Transfer Agreement" is now effective.

According to the information brought to the company's attention by the parties to the "Share Transfer Agreement", the latter has the following characteristics:

• The agreement is concluded between Mr Gauthier Jean Guillaume HUET, the company SEMPER FINANCE GROUP (acting on behalf of its clients for whom it manages the portfolios), Mr Nevil von TSCHARNER and Mr Richard von TSCHARNER as transferors on the one hand, and the transferees indicated below, on the other hand:

The amount of the sale relates to 38.55% of the share capital, i.e. 2,543,300 shares (excluding the exercise of warrants).

• To date, Global EcoPower has not received any information relating to the existence of any concerted action, or agreement, between the transferees indicated above;
• The management of Global EcoPower does not intend to enter into any agreement, or any action in concert, with any of the transferees indicated above;
• The transferees mentioned above have indicated to Global EcoPower, on an informal basis, that they do not intend to change its governance in the short term.

About GEP
Global EcoPower is an Aix-en-Provence based company and a “turnkey” constructor of power plants using renewable energies, wind and solar power.
GEP is listed on the Euronext Growth Market in Paris (ISIN code: FR0011289198 - mnemo: ALGEP).
GEP is eligible for PEA-PME.

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Source : Actusnews