Genex Power Ltd (ASX:GNX) Appointment of Kenichi Seshimo as a Director - ABN Newswire (@ABN_Newswire) abnnewswire.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abnnewswire.net Daily Mail and Mail on Sunday newspapers.
Genex Power Ltd (ASX:GNX) EGM Approves JPower Investment - Timeline to Financial Close
EGM Approves JPower Investment - Timeline to Financial CloseSydney, April 29, 2021 AEST (ABN Newswire) - Genex Power Limited (
ASX:GNX) is pleased to provide the following update on the finalisation of the subscription by Electric Power Development Co., Ltd ( J-POWER ) for up to $25M to be applied toward the 250MW Kidston Pumped Storage Hydro Project ( K2-Hydro or Project ).
Highlights:
- Subscription pricing period commenced, subject to a minimum of $0.211 per share; and
- Financial Close scheduled to occur on 19 May 2021.
Following approval of Resolution 1 and Resolution 2 at the Extraordinary General Meeting of Genex shareholders (EGM) held earlier today (refer ASX Announcement dated 29 April 2021), Genex has today given notice to J-POWER that the conditions precedent to the Share Subscription Agreement between Genex and J-POWER ( SSA ) (refer ASX Announcement dated 24 March
Genex Power Ltd (ASX:GNX) Quarterly Activities and Cashflow Reports
Quarterly Activities and Cashflow ReportsSydney, April 29, 2021 AEST (ABN Newswire) - Genex Power Limited (
ASX:GNX) is pleased to provide the following update on the Company s activities and performance for the quarter ending 31 March 2021 (Q3 FY2021), a period during which the Company made substantial progress with its Kidston Pumped Storage Hydro Project (K2-Hydro), having successfully raised additional funds to retain 100% ownership of the Project and reached Project Document Contractual Close.
Highlights
K2-Hydro
- Launch of $115 million equity raise, consisting of $90 million fully underwritten placement and rights issue, and an additional $25 million committed investment by J-POWER;
Genex Power Ltd (ASX:GNX) Construction Commences at Kidston Hydro Project
Construction Commences at Kidston Hydro ProjectSydney, April 28, 2021 AEST (ABN Newswire) - Genex Power Limited (
ASX:GNX) is pleased to announce that, further to its announcement of Project Document Contractual Close on 31 March 2021, it has today issued Notice to Proceed under two key construction contracts to formally commence construction of the 250MW Kidston Pumped Storage Hydro Project (K2-Hydro or Project).
This follows the issuance of Notice to Proceed to Powerlink for the 275kV transmission infrastructure works, on 31 March 2021.
Genex is pleased to advise that it has today issued Notice to Proceed under the Engineering, Procurement and Construction (EPC) contract with a joint venture of McConnell Dowell Constructors (Aust.) Pty Ltd and John Holland Group Pty Ltd (MDJH JV) for the Project. The EPC scope includes dam construction, underground and waterway civil works and the full powerhou