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Fulcrum completes transfer of second tranche of assets to E.S. Pipelines
StockMarketWire.com
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Infrastructure and services provider Fulcrum said it had completed the transfer of the second tranche of its domestic customer gas connection assets and associated meters to E.S. Pipelines for £4.8 million.
Cash of £4.7 million was received on 30 November, with the retention balance of £0.1 million expected to be received on 31 May 2022, the company said.
The total gross consideration receivable by Fulcrum was expected to be about £49 million. The company said £22 million had been received to-date, leaving approximately £27 million to be received, with the majority expected to be collected over the next two to three years.
The company also received a further £0.4 million in cash related to the first tranche of assets transferred under the asset sale.
At 9:26am: (LON:FCRM) Fulcrum Utility Services Ltd share price was 0p at 38.75p
Story provided by StockMarketWire.com
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