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Pure Hydrogen Corporation Limited Registered Shs ( (AU:P1E) ) has shared an announcement.
Pure One Corporation has called a general meeting of shareholders for 24 June 2026 in Sydney to seek approval for the sale of its entire 40% equity interest in Turquoise Group Pty Ltd. The transaction, structured as a share buy-back by Turquoise Group, is valued at $5 million, with $3.5 million payable at completion and $1.5 million due within 12 months, generating an estimated profit of $3.4 million for Pure One.
The deal will terminate all existing agreements between the two parties and end Pure One’s ownership in Turquoise Group, a related-party transaction given director Ron Prefontaine’s roles in both companies. An independent expert has deemed the terms fair and reasonable, and the board is urging shareholders to lodge proxies and participate in the vote, underlining the significance of the divestment for the company’s portfolio and governance obligations.
More about Pure Hydrogen Corporation Limited Registered Shs
Pure Hydrogen Corporation, trading as Pure One Corporation, operates in the energy sector with a focus on hydrogen-related activities. The company is listed on the ASX and manages a portfolio of investments, including prior interests in Turquoise Group Pty Ltd, as it refines its asset base and capital allocation to support its strategic direction.
Average Trading Volume: 387,975
Technical Sentiment Signal: Sell
Current Market Cap: A$24.06M
For detailed information about P1E stock, go to TipRanks’ Stock Analysis page.