EANS-Adhoc: PI Power International Limited (in liquidation): Board Announces the Sale of Stratius Investments Limited

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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is solely responsible for the content of this announcement.
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Strategic management decisions
13.04.2017

Jersey/Vienna, April 13, 2017 - After completing the auction process
previously announced, PI Power International Limited (in liquidation)
(the Company) has sold its entire interest in Stratius Investments
Limited, the Company's Cyprus-registered subsidiary (Stratius) that
holds the claim for the arbitration award in relation to the Karpat
Energo investment. After engaging with approximately two dozen
parties, four participated in the detailed auction process. The
winning bid was submitted by Meinl Bank AG. The sale price was EUR
2.75 million.

By means of the sale, Stratius has converted its last remaining
investment asset to cash, which allows the board of directors of the
Company (the Board) to complete the summary winding up process
approved by the shareholders / certificate holders during the
Company's general meeting of July 2012. According to the terms of the
sale, the Company is obligated to remain open for three months, after
which time the Board will complete the winding up process and
dissolve the Company. After settlement of existing liabilities and
payment of costs to complete the winding up and dissolution, the
Board estimates that there will be between EUR 0.03 and EUR 0.035 per
ADC for repayment to shareholders / certificate holders.

Further inquiry note:
Metrum Communications
Stefan Trittner
T: +43 664 964 81 24
E-mail: s.trittner@metrum.at

end of announcement euro adhoc
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issuer: PI Power International Limited
1st Floor, 7 Bond Street
A-JE2 3NP St Helier, Jersey, Channel Islands
mail: info@powerinternational.eu
WWW: www.powerinternational.eu
sector: Energy
ISIN: AT0000A05W59
indexes: other securities.at
stockmarkets: Third Market: Wien
language: English

Original-Content von: PI Power International Limited, übermittelt durch news aktuell