INVESTMENT SUMMARY
EnerSys Invests In EAS Germany
On August 13, 2012, EnerSys invested in electrical equipment company EAS Germany GmbH.
Notice it says "invest"
So in fact ENS invested in those factories and never followed up on renewing the agreement and let them go bankrupt.
What makes the whole thing more interesting is the fact Monbat never disclosed what they paid in the bankruptcy proceedings which should have been disclosed. This leads me to believe they needed time to reorganize and get out of their past wrongdoings and finally did with this sale to Britiishvolt. Let's see if I am right.
We should get a least a penny for our shares depending on the existing share structure with Verdant.
Do you need more proof! lol
airfax, VA., August 13, 2012 – Lithium Technology Corporation (“LTC”) announced today it has completed the sale of its 40% minority interest of EAS Germany GmbH to EnerSys. LTC and EnerSys formed the joint venture in Nordhausen, Germany in August 2011 to produce large format lithium-ion battery cells.
LTC will continue to cooperate with EnerSys and EAS as production partners for its lithium-ion battery cells and complete batteries. As part of the transaction, LTC, through its subsidiary Gaia Akkumulatorenwerke GmbH, redeemed all of its interest in EAS in exchange for cash, cancellation of outstanding payables and a credit facility for future purchases of battery cells from EAS. The existing service, supply and intellectual property agreements will remain in place.
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