Enegra Group Ltd Signs Offtake Agreement With PT Dual Coal Resources
Kuala Lumpur, Malaysia / 3 February 2020 — Enegra Group Ltd (LL15959, “Enegra”) is pleased to announce the signing of an offtake agreement with PT Dual Coal Resources in Jakarta, Indonesia (“the Agreement”).
Enegra has recently executed an offtake agreement with the privately-held Indonesian company PT Dual Coal Resources (“DCR”). The initial term of the agreement is for 25 years, during which DCR is to provide Enegra with up to 5 million tonnes of coal per month or 60 million tonnes of coal per year.
The agreement delivers coal to Enegra Group Ltd at a fixed margin to market price from mines operated by DCR across 16 sites in Kalimantan, Indonesia.
According to Matthew Averay, Enegra Managing Director & CEO, “The signing of this agreement with Dual Coal Resources is an important milestone for the company as we look to commence trading of both physical coal and derivatives in 2020. The agreement underlines our focus on de-risking the sourcing of commodities from emerging markets, and in particular energy and metals from Indonesia.”
The Labuan Financial Services Authority accepts no responsibility for the adequacy or accuracy of this release.
About Enegra Group
Enegra Group Ltd (LL15959) is a company incorporated in the Labuan International Business and Financial Centre, Malaysia, which is an independent offshore financial jurisdiction regulated by the Labuan Financial Services Authority under the purview of the Ministry of Finance, Malaysia. Its core business is the sourcing and trading of commodities, with a focus on energy, base, precious, and rare-earth metals. Enegra’s IP, combined with their local market knowledge and relationships, allows them to both control and profit from every step in the commodity life cycle, while ensuring that all participants in the wider trade eco-system also benefit — including the local community.
Enegra have tokenised 100% of the equity in Enegra Group Ltd, with equity represented by the EGX security token issued on the Ethereum blockchain. There are 100,000,000 EGX issued to represent the 100,000,000 ordinary shares of Enegra Group Ltd. The shares are held by a licensed Trust Company as Nominee on behalf of EGX token-holders, and all rights and distributions are passed on to EGX token-holders, including distributions and voting.
Further information about Enegra and EGX can be found on Enegra’s website at www.enegragroup.com. Enquiries should be directed to support@enegragroup.com.
Forward-Looking Information
This document contains forecasts, projections, goals, plans, and other forward-looking statements regarding Enegra’s earnings and other data. Such forward-looking statements are based on Enegra management’s assumptions, estimates, outlook, and other judgments made in light of information available at the time of preparation of such statements and involve both known and unknown risks and uncertainties.
Accordingly, plans, goals, and other statements may not be realized as described, and actual financial results, success/failure or progress of development, and other projections may differ materially from those presented herein.
Even when subsequent changes in conditions or other circumstances make it preferable to update or revise forecasts, plans, or other forward-looking statements, Enegra disclaims any obligation to update or revise this document.
Unless otherwise specified, all financial data in this document is defined in USD.
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