Low Carbon Accelerator Limited Update on Sale and Purchase Agreement (4838Z)

TIDMLCA

RNS Number : 4838Z

Low Carbon Accelerator Limited

07 March 2013

7 March 2013

LOW CARBON ACCELERATOR LIMITED ("LCA" or "the Company")

Update on Sale and Purchase Agreement

Further to the Company's announcement of 8 February 2013, LCA announces that the first payment from Sterling Planet of US$1m, which had been delayed from its revised contracted date of 1 February 2013, has now been received.

The remaining payments are now set to be made at 16 April 2013 (US$1m), 17 May 2013 (US$1.2m) and 17 July 2013 (US$1.2m).

As previously stated, since May 2012 the objective of the Company has been to arrange for the sale of the assets and the distribution of capital and the Company. In accordance with this objective, as soon as practicable the Company will be issuing a Circular to shareholders to outline its plans for the distribution of capital, the liquidation of the Company and the cancellation of LCA's admission to trading on AIM.

Enquiries:

Low Carbon Investors Limited Steve Mahon, CIO

Tel: +44 (0)20 7631 2630

Grant Thornton UK LLP Philip Secrett, or Colin Aaronson

Tel: +44 (0) 20 7383 5100

This information is provided by RNS

The company news service from the London Stock Exchange

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