Sheffield Green’s wholly-owned subsidiary Wind Asia Training has entered a non-binding term sheet to explore the potential acquisition of 70% of Advanced Blade Repair Services (ABRS), according to a release dated Apr 11.
The term sheet between ABRS and Wind Asia was first entered into on March 27. The total consideration for the purchase of 70% of ABRS is £1 million ($1.73 million)
Wind Asia has placed a refundable deposit in the sum of £200,000 as a demonstration of its good faith commitment and ABRS agreeing to an exclusivity period of two calendar months.
ABRS is a company incorporated in England and is in the business of providing wind energy training solutions in the UK.
The term sheet states that both parties should sign a sale and purchase agreement or other such agreements within two calendar months of the term sheet signing.
Shares in Sheffield Green closed flat at 17.8 cents on Apr 11.
