SYNTHESIS ENERGY SYSTEMS, INC. (NASDAQ:SYMX) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.
On June 3, 2020 the Company received a written notice from Australian Future Energy Pty Ltd (“AFE”) of AFE’s termination of Agreement and Plan of Merger (As Amended), (the “Merger Agreement”), thereby terminating the previously announced planned merger by and among SES, AFE and SES Merger Sub, Inc. On June 4, 2020 the Company provided to AFE written acknowledgment of its receipt of the notice of termination of the Merger Agreement and has reserved its rights arising from AFE’s actions.
About SYNTHESIS ENERGY SYSTEMS, INC. (NASDAQ:SYMX)
Synthesis Energy Systems, Inc. is a clean energy company that develops, builds and owns clean energy projects. The Company owns gasification technology, which it utilizes to provide technology licenses and equipment to customers in the energy and chemical industries. The Company operates through segments, including SES China, Technology Licensing and Related Services, and Corporate. The SES China segment includes all of the assets and operations and related administrative costs for China, including initial closing costs relating to its joint ventures. The Technology Licensing and Related Services segment includes all of the Company’s operating activities outside of China. The Corporate segment includes the executive and administrative expenses of the corporate office in Houston. The Company offers U-GAS fluidized bed gasification technology, which is known as Synthesis Energy Systems Gasification Technology (SGT).