BRIEF-NPG Technology SA signs contract with Mexican investors

martes 30 de diciembre de 2014 07:15 GYT

Dec 30 (Reuters) - NPG Technology SA :

* Signs investment contract under which Mexican investors will enter NPG Latam SA de CV and NPG Technology Mexico SA de CV for about 3.09 million euros ($3.8 million)

* Under the terms of the contract investors will hold 75 percent stake in both units, the remaining 25 percent will be held by the company

* The investors will have the right to exchange shares of both units for NPG shares and to appoint one board member of the company

* Says the investors will enter as soon as legal documents are ready for conversion of corporate type of both units to S.A.P.I. for their subsequent incorporation into stock markets

* It is estimated that the process of conversion of both units into S.A.P.I. will end in Q1-2015 Source text: Further company coverage: ($1 = 0.8228 euros) (Gdynia Newsroom)