Sale of Loan in Anaeco Limited

Monadelphous has entered into a binding agreement with Xiaoqing Environmental Protection Technology Company (XEPTC) that will result in XEPTC buying part of a convertible loan owed to Monadelphous by AnaeCo, with the remaining balance of the loan being converted to equity in AnaeCo.  The transaction remains subject to AnaeCo shareholder approval.  It is expected that Monadelphous will hold 30% of AnaeCo’s issued share capital on conversion.

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