TORONTO, Dec. 4 /CNW/ - GMR Energy Limited ("GMR"), a subsidiary of GMR Infrastructure Limited, has acquired ownership and control, by private placement from treasury, of 27,465,068 common shares (the "Shares") of Homeland Energy Group Ltd. (TSX:HEG) ("Homeland"), representing approximately 9.1% of the issued and outstanding shares of Homeland. The shares were issued at a price of CDN$0.07 per Share in cash.
Immediately following this transaction, GMR owns and controls 103,257,095 common shares of Homeland, representing approximately 34.2% of the issued and outstanding common shares of Homeland. Crossridge Investments Limited ("Crossridge"), an affiliate of GMR, owns and controls 30,096,012 common shares of Homeland, representing approximately 10% of the issued and outstanding common shares of Homeland. Accordingly, the securityholding percentage of Crossridge and GMR in the common shares of Homeland immediately after the transaction is approximately 44.1%, represented by an aggregate of 133,353,107 common shares of Homeland.
GMR has acquired the Shares for long term investment purposes and currently does not intend on acquiring ownership of, or control over, any additional securities of Homeland.
SOURCE GMR ENERGY LIMITED
For further information: For further information: including to obtain a copy of the report filed with the Canadian securities regulatory authorities in respect of which this news release relates, please contact Mr. Yajaman Manjaiah Shivamurthy, Group President and General Counsel, at Shivamurthy.email@example.com, or Mr. Ashis Basu, Executive Vice President, at Ashis.firstname.lastname@example.org. The mailing address of GMR Energy Limited is: GMR Energy Limited, IBC Knowledge Park, Phase 2, 'D' Block, 9th Floor, 4/1, Bannerghatta Road, Bangalore, India, 560 029