News: ANQ Monadelphous enters into agreement with Xiaoqing Environmental Protection

Aug 4 (Reuters) - Monadelphous Group Ltd (MND) :

• Sale of loan in AnaeCo Limited (MND)
• Entered into a binding agreement with Xiaoqing Environmental Protection

  Technology Company (XEPTC)

• At completion of the sale XEPTC will pay Monadelphous $11.5 million
• Agreement will result in XEPTC buying part of a convertible loan owed to

  Monadelphous by AnaeCo Limited

• Expected that Monadelphous will hold 30% of AnaeCo'S issued share capital

  upon conversion

• Debt purchased by XEPTC will convert into equity of AnaeCo, subject to

  approval of AnaeCo'S shareholders