PHI, as per the LoI, will acquire all of GSWP’s issued and outstanding capital interests in exchange of 30% common stock of the PHI Group.
The company will provide GSWP with working capital from implement its business plans.
GSWP key officers and staff will also receive a special compensation from PHI for a reserved percentage of future net profits from the GSWP’s projects in Eastern Africa.
The two companies will sign a definitive agreement within 30 days of signing the LoI to complete the proposed transaction.
