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LGC Capital signs letter of intent for proposed acquisition of 20% of Etea Sicurezza Group Ltd
LGC Capital signs letter of intent for proposed acquisition of 20% of Etea Sicurezza Group...
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[{"type":"text","content":"\n\n\n\nLGC Capital signs letter of intent for proposed acquisition of 20% of Etea Sicurezza Group Ltd\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Nov. 1, 2017\n\n\n\nSymbol: TSX-V: LG\n\n\n\nMONTREAL, Nov. 1, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: LG) (\"LGC\") is pleased to announce that it has entered into a letter of intent with Etea Sicurezza Group Ltd (\"Etea Sicurezza\") for a potential acquisition of approximately 20% of Etea Sicurezza by LGC. The letter of intent will form the basis for the negotiation of a mutually-satisfactory definitive agreement to be entered into between LGC, on the one hand, and Etea Sicurezza and its shareholders, on the other hand. LGC and Etea Sicurezza are at arm's-length.\n\nBased in London, England, Etea Sicurezza (www.eteasicurezzagroup.com) is a private company which specializes in fire safety and security by providing products and services to international companies such as L'Oreal, Coca Cola, BASF, Doha Metro and others. Etea Sicurezza was founded in 1998 and is now a global leader in the field of high-tech safety with offices in seven countries and agents in 20 countries. Etea Sicurezza operates as an EPC (Engineering, Procurement and Construction) contractor implementing safety systems, and provides proprietary and patented technologies that are customized and fully compliant with international standards. \n\n\"We are very pleased to have signed the letter of intent with Etea Sicurezza,\" commented Mazen Haddad, Co-Chairman of LGC and head of its merchant banking division. \"We believe that Etea Sicurezza is a strong company with great growth potential and that our proposed transaction will be beneficial for LGC and our shareholders.\"\n\nThe letter of intent provides that LGC will incorporate a new, wholly-owned subsidiary corporation (\"Holdco\") which will issue 11,280,000 shares to LGC; Holdco will acquire 87.5% of the issued and outstanding shares of Etea Sicurezza from its principal shareholders in exchange for an aggregate o...