Current Report Filing (8-k)
14 6월 2023 - 7:03PM
Edgar (US Regulatory)
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0001553404
2023-06-13
2023-06-13
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iso4217:USD
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported) June
13, 2023
PACIFIC
GREEN TECHNOLOGIES INC. |
(Exact
name of registrant as specified in its charter) |
Delaware |
|
000-54756 |
|
n/a |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
Suite
10212, 8 The Green Dover, DE |
|
19901 |
(Address of principal executive
offices) |
|
(Zip Code) |
Registrant’s
telephone number, including area code (302) 601-4659
N/A
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common Shares |
|
PGTK |
|
OTC Markets |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement
On June 13, 2023 Pacific
Green Technologies, Inc. (“Pacific Green”), (OTCQB: PGTK) entered into a sale and purchase agreement (“Agreement”)
to sell 100% of the shares it holds in Pacific Green Battery Energy Parks 1 Limited (“PGBEP1”) to Sosteneo Fund 1 HoldCo S.à.r.l.
for £74 million (US$93 million).
PGBEP1 is the holding
company for a 100% owned subsidiary, Richborough Energy Park Limited, Pacific Green’s 99MW battery energy storage system (“BESS”)
at Richborough Energy Park (“REP”) which is scheduled to begin operations later this summer.
Under the terms of the
Agreement entered into, the consideration is payable pursuant to operational milestones related to the battery park as it connects to
the grid and becomes operational. Pacific Green will receive an advance of £20m upon signing of the Agreement with an anticipated
completion over the following weeks.
Item
7.01 Regulation FD Disclosure.
On June 13, 2023 Pacific Green issued a news release regarding the
Agreement to sell 100% of the shares in Pacific Green Battery Energy Parks 1 Limited (“PGBEP1”) to Sosteneo Fund 1 HoldCo
S.à.r.l. for £74 million (US$93 million), payable in milestone related installments.
Item
9.01 Financial Statements and Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
PACIFIC
GREEN TECHNOLOGIES INC. |
|
|
|
/s/ Scott
Poulter |
|
Scott Poulter |
|
Chief Executive Officer and
Director |
|
Date: June 13, 2023 |
|
2
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