Dyesol LTD, es geht weiter !

Queanbeyan, Australia, 28 November 2013 – Today, Saudi Arabian industrial giant, Tasnee, also known as The National Industrialization Company of Saudi Arabia, has confirmed its intention to invest up to an additional AUD$16 million in Dyesol, in addition to the AUD$4 million Tasnee invested in the Australian renewable energy innovator in February.

Tasnee will make its strategic investment in two tranches. The first tranche of AUD$10 million, convertible into Dyesol shares at 18 cents per share, is to take effect immediately – subject to Dyesol shareholder approval. The second tranche of AUD$6 million (also subject to shareholder approval), is an option convertible into Dyesol shares at 18 cents per share, if the investment is made at or before an Extraordinary General Meeting (EGM) scheduled for January 2014, otherwise it will be convertible into Dyesol shares at a 25% discount to the 30 day volume weighted average price – if the investment is made after the EGM and within one year.

To the extent that investment is above 20% ownership in Dyesol and exceeds issuance capacity under ASX Listing Rule 7.1, the strategic investment requires shareholder approval as required by the Corporations Act and the ASX Listing Rules, respectively.

Dyesol has appointed an independent expert to prepare a "fair and reasonable" report to assist Dyesol shareholders in making an informed decision in relation to approving the proposed investment at the EGM scheduled for January 2014.