Attached is the invoice from Goldhofer for the 10% deposit that we need to pay to ensure we obtain the delivery slots that we have requested.
We need to make payment within the next few days and can’t wait until the JV bank account has been formed.
What I suggest is that Wind Energy Holdings and ALE UK Holdings make a 50% payment to Goldhofer and treat this as a loan to the JV.
Once the share capital has been paid into the JV we can then either repay the loan or else leave the loan in place and have it repaid later.
I believe that we are not able to class this as part payment of the share capital as I think that all the funds for share capital have to be received by the Thai JV as proof of payment and paying invoices instead is not possible.
We are also going to have to start to look for prime movers and will need to purchase them as they come available, which will use up the bulk of the initial share capital.
Can you organise a payment of €206,055.00 to Goldhofer and send me a copy of the transfer document so that we can inform Goldhofer of the payment.
I will give you a call to discuss.