EV Charge Holding Ltd., an electric charging solutions company incorporated under the laws of the United Kingdom with its registered office at 20-22 Wenlock Road, London, England (N1 7GU), has announced that it has signed an agreement with GEM Global Yield LLC SCS ("GEM"), the Luxembourg- based non-traditional private investment group , which stipulates that the latter will have to invest up to 15 million euros in EV Charge over three years following the date of listing of the company's common shares on an accredited international stock exchange. EV Charge will use these funds to develop charging infrastructure for electric vehicles.

The initial amount of € 15 million will take the form of an investment commitment which will allow EV Charge to raise funds during the three-year period by issuing ordinary shares to GEM (or to persons or entities that it indicates) according to the stock loan agreements in place.

EV Charge will determine the timing and maximum amount of each withdrawal under this facility and has no minimum withdrawal obligation. Concurrent with the listing of its shares on the stock exchange, the Company will issue warrants to GEM allowing it to purchase up to ten percent (10%) of its outstanding common shares on a fully diluted basis. The purchase price per share of the warrants will be equal to the closing price of the shares on the first trading day following the listing of the shares on the stock exchange.

About EV Charge

EV Charge is dedicated to developing charging infrastructure for electric vehicles. Electric charging stations will help reduce costs as well as environmental pollution.

About GEM Group

Global Emerging Markets ("GEM") is a non-traditional investment group based in Paris , New York and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets which provide the group and its investors with a diverse portfolio of asset classes spanning the global spectrum of private investments. Each investment vehicle has a different level of operational control, risk-adjusted return and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to executive buyouts of small and mid-cap companies, off-market investments in listed companies (PIPEs) and investments. of targeted venture capital.

 

Source: prnewswire.com

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