Strategic Partnership Agreeement between NESA Energy Holdings -UK- PLC and EuroAtlantic Group.Energy Editors/Business Editors LONDON--(BUSINESS WIRE)--Jan. 7, 2004 NESA NESA National Eagle Scout Association (Boy Scouts of America) NESA Near East South Asia NESA New European Surgical Academy (Berlin, Germany) NESA National Energy Services Association Energy Holdings (UK) Plc ("NESA" the "Company"), a UK-based downstream energy company, announces it has signed an agreement with Diekat S.A. ("Diekat), a publicly listed Greek construction company, to acquire from Diekat all the shares not already owned by NESA in Portland Bunkers International Ltd (Portland, England) ("PBI PBI protein-bound iodine. PBI abbr. protein-bound iodine PBI, n See iodine, protein-bound. PBI protein-bound iodine. ") and Evroil Sh.A (Durres, Albania) ("Evroil"). These are the operating companies of the two bunkering bun·ker·ing n. The act or process of supplying a ship with fuel. facilities. Upon completion of the transaction, NESA will own 100% of PBI and Evroil. NESA will effectively assume operations and management of PBI and Evroil from the 31st March 2004. EuroAtlantic will participate in NESA's private placement as an anchor investor. As part of this transaction, EuroAtlantic Group will receive 3.000.000 NESA ordinary shares (representing 9.2 % of its ordinary capital) and 2.500 NESA preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. (representing 12.5 % of its preferred capital). As NESA's strategic partner EuroAtlantic will fully participate alongside NESA's founding shareholders in the company's long term development. EuroAtlantic will add impressive and meaningful synergy being a well recognized name in the oil industry. "This strategic partnership demonstrates the strong belief of the EuroAtlantic Group and of our current shareholders in NESA's business model and in its growth potential. It is an important step in delivering on our ambitious business plan. We are delighted to have EuroAtlantic as our anchor strategic shareholder. " declared Kevin Oates, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NESA. Following this transaction, NESA will finalize its capital raising program through a limited private placement to institutional and private investors. It is also the management's intention to proceed with an application for a listing on the AIM Exchange as soon as operational and market conditions permit. NESA is an energy company active in oil and gas storage and bunkering operations complemented by related trading and risk management activities. The company's strategy is aimed at identifying and acquiring physical bunkering facilities strategically located on major shipping routes and to develop them in order to provide ship-owners with accessible supplies of consistently high quality bunker fuel which are competitively priced. NESA headquarters are in Portland ,UK and its main assets are located in the English Channel English Channel, Fr. La Manche [the sleeve], arm of the Atlantic Ocean, c.350 (560 km) long, between France and Great Britain. It is 112 mi (180 km) wide at its west entrance, between Land's End, England, and Ushant, France. Its greatest width, c. (Portland), the Aegean Sea Aegean Sea, Gr. Aigaion Pelagos, Turkish Ege Denizi, arm of the Mediterranean Sea, c.400 mi (640 km) long and 200 mi (320 km) wide, off SE Europe between Greece and Turkey; Crete and Rhodes mark its southern limit. (Piraeus and Alexandroupolis, Greece) and the Adriatic Sea Adriatic Sea (ādrēă`tĭk), arm of the Mediterranean Sea, between Italy and the Balkan Peninsula. It extends c.500 mi (800 km) from the Gulf of Venice, at its head, SE to the Strait of Otranto, which leads to the Ionian Sea. (Durres, Albania). London-based Sindicatum Ltd. is acting as financial adviser to the Company. |
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