CMG Cleantech S.A. To Divest And Unwind Its Acquisition Of Subsidiary, Ocean Polymers Limited

DJ CMG Cleantech S.A.: TO DIVEST AND UNWIND ITS ACQUISITION OF SUBSIDIARY, OCEAN POLYMERS LIMITED

CMG Cleantech S.A. 
CMG Cleantech S.A.: TO DIVEST AND UNWIND ITS ACQUISITION OF SUBSIDIARY, OCEAN POLYMERS LIMITED 
15-Oct-2024 / 10:52 CET/CEST 
Dissemination of a French Regulatory News, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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[Paris, 15 October 2024] - CMG CleanTech S.A. ("CMG") has announced a strategic divestment of its subsidiary, Ocean 
Polymers Limited. Ocean Polymers was acquired by CMG in November 2022. This move comes as Ocean Polymers is advancing 
into the final stage of negotiations for power purchase and fuel supply agreements with the Government of Trinidad and 
Tobago along with the necessity of constructing a power plant in Tobago that will convert waste into clean energy. 
 
In order to effectively execute this project, Ocean Polymers requires a substantial capital raise. It is, therefore, in 
both parties' best interest for Ocean Polymers to transition back to being a private legal entity. This transition will 
provide greater flexibility and create a more favourable environment for the necessary fundraising activities. 
 
Announcing the divestment, CMG's Directeur Général (CEO) Darren Taylor said: "We believe that allowing Ocean Polymers 
to operate as a private legal entity, will better position Ocean Polymers to meet its financial and operational 
objectives. We are committed to supporting them through this transition. The decision underscores CMG's dedication to 
ensuring that its subsidiaries have the flexibility and resources needed to achieve their strategic goals." 
 
CMG and Ocean Polymers will continue to collaborate and remain open to the possibility of merging again in the future. 
 
 
About CMG CleanTech S.A. 
 
Listed on the Euronext Paris Exchange, CMG CleanTech S.A. ("CMG") is driven by a strong, secure ESG strategy - to 
develop the clean hydrogen and solar technology at its disposal and help countries, organisations and individuals 
alleviate their environmental impacts and meet ambitious 2050 carbon neutrality goals. 
https://www.cmgcleantech.com/ 
 
Contacts for IR and media enquiries: 
[e-mail] 
     Franziska Grobler Financial Media Group 
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Regulatory filing PDF file 
File: CMG CLEANTECH S.A. TO DIVEST AND UNWIND ITS ACQUISITION OF SUBSIDIARY, OCEAN POLYMERS LIMITED 
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Language:    English 
Company:     CMG Cleantech S.A. 
         6 place de la Madeleine 
         75008 Paris 
         France 
E-mail:     [e-mail] 
Internet:    https://www.cmgcleantech.com/ 
ISIN:      FR0013406881 
Euronext Ticker: MLCMG 
AMF Category:  Inside information / Other releases 
EQS News ID:   2008099 
 
End of Announcement EQS News Service 
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2008099 15-Oct-2024 CET/CEST

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October 15, 2024 04:52 ET (08:52 GMT)