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MPR Australia Limited (ASX:MPR)

ALERT: Price-sensitive ASX Announcement for MPR
Current share price for MPR : $0.005 -0.002 (-28.57%)+
Announcement
Release
9 Sep 2025 5:52PM
Price at Release
$0.007
Full Release
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Summary
MPower Group Limited announced the completion of its asset sale to Wollemi Energy Group for approximately $19 million. The sale includes MPower's renewable energy platform and other key assets, with a deferred payment component of up to $2 million. All MPower employees have transitioned to Wollemi, and the company plans to utilize the proceeds to settle liabilities and possibly return capital to shareholders or invest in a new venture. A name change to MPR Australia Limited has been approved, and the company's shares will remain quoted on ASX until December 2025. The completion of the Lakeland Solar & Storage asset transfer is pending regulatory approval.
Key Points
  • MPower Group Limited completed the sale transaction of its core assets to Wollemi Energy Group.
  • The transaction involved the sale of MPower’s renewable energy platform, Lakeland Solar & Storage Project, and other assets for approximately $19 million.
  • The transaction included an agreement for deferred purchase price of up to $2 million payable six months post-completion.
  • All MPower employees have transferred to the employment of the Buyer.
  • MPower plans to use the proceeds to pay off its liabilities and potentially return capital to shareholders or acquire a new business.
  • Change of company name to MPR Australia Limited was approved.
  • ASX will continue to quote the shares until December 2025 unless the company completes its post-transaction plans.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.