Business
Statement re Heads of Terms and Suspension
Statement re Heads of Terms and Suspension.
About this update from Focus Xplore Plc
[{"type":"text","content":"\n \nRNS Number : 4402T Opera Investments plc 20 July 2015 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n \n \nFOR IMMEDIATE RELEASE \n \n7.00 a.m. on 20 July 2015\n \nOpera Investments plc\n \nHeads of Terms Agreed to Acquire SoloPower Systems Holdings, Inc.\n \nSuspension of Trading\n \nOpera Investments plc (\"Opera\" or the \"Company\") is pleased to announce that it has reached a heads of terms agreement to acquire all of the issued share capital of SoloPower Systems Holdings, Inc. (\"SoloPower\").\n \nBackground\n \nOpera was listed in April 2015 in order to undertake one or more acquisitions of target companies or businesses in the natural resources sector. The investment strategy of Opera is focused to seek an acquisition of a company, business or asset which includes the following criteria:\n \n· has a management team possessing a strong track record;\n· has solid commercial prospects;\n· is exposed to fast developing countries, but within a low sovereign risk environment;\n· offers the potential for near-term financial and development success; and\n· can be adequately funded to be able to deliver on credible milestones and provide a significant growth opportunity for Opera's shareholders.\n \nSoloPower is a US headquartered pioneer in flexible and lightweight high-performance solar materials. It manufactures solar photovoltaic (\"PV\") cells and modules from thin-film copper, indium, gallium and selenium materials (\"CIGS\") on a flexible substrate using a continuous, roll-to-roll manufacturing process. SoloPower is one of the only CIGS technology companies in the world with a fully commercialized high-volume manufacturing facility producing lightweight flexible solar modules. SoloPower expects to sell its product to commercial, industrial and residential rooftop installations through project developers, utilities and/or intermediate distributors. SoloPower's module product offerings compete favourably against al...