Straight KKM 2 Limited Closes Agreements to Acquire Common Shares of Feronia Inc. from CDC Group plc

TORONTO, Jan. 24, 2018 /CNW/ - CDC Group plc ("CDC") and Straight KKM 2 Limited ("KKM") announce that today CDC has disposed of 61,337,833 common shares (the "Common Shares") of Feronia Inc. ("Feronia") to KKM upon the closing (the "Closing") of a private sale and purchase agreement which was entered into on September 25, 2017 between CDC and KKM, as disclosed in CDC's news release dated September 25, 2017 and early warning report dated September 27, 2017 and KKM's news releases of September 25, 2017, October 16, 2017 and January 19, 2017.

Immediately prior to the Closing, CDC held 244,495,111 Common Shares of Feronia, which at the time represented approximately 50.55% of the total issued and outstanding Common Shares of Feronia. Immediately following the Closing, CDC held 183,157,278 Common Shares of Feronia, representing approximately 37.86% of the issued and outstanding Common Shares as at such time.

Immediately prior to the Closing, KKM had ownership of, and control over, 121,819,444 Common Shares, representing approximately 25.18% of the issued and outstanding Common Shares of Feronia.  As a result of the Closing, KKM now has ownership of, and control over, 183,157,277 Common Shares, representing approximately 37.86% of the issued and outstanding Common Shares of Feronia.

The 61,337,833 Common Shares of Feronia were sold by CDC to KKM at a price of CAD $0.23 per Common Share for total consideration of CAD $14,107,702 (payable in US dollars based on a fixed exchange rate of CAD $1.253 per US $1.00 as set out in the sale and purchase agreement).

KKM acquired the Common Shares pursuant to the transactions described herein for investment purposes. KKM will monitor the business, prospects, financial condition and potential capital requirements of Feronia. Depending on its evaluation of these and other factors, KKM may, from time to time in the future, increase or decrease its ownership, control or direction over the Common Shares or other securities of Feronia through market transactions, private agreements, or subscriptions from treasury or otherwise.

CDC's disposition of the Common Shares was undertaken in the ordinary course of its business as a development finance institution. CDC may increase or decrease its investment in Feronia at any time depending on market conditions and any other relevant factors, subject to compliance with applicable law. CDC is incorporated in the United Kingdom.

CDC and KKM will each file an early warning report pursuant to National Instrument 62-104 Take-over Bids and Issuer Bids on SEDAR (www.sedar.com) under Feronia's SEDAR profile. Feronia's registered address is: Suite 1800, 181 Bay Street, Toronto, Ontario M5J 2T9.

SOURCE CDC Group plc

For more information or to obtain a copy of the early warning reports, please contact: Straight KKM 2 Limited, c/o Adansonia Management Services Limited, C2-202, Level 2, Office Block C, La Croisette, Grand Baie 30517, Mauritius, Attention: Kalaa Mpinga, Tel: [phone]; or, CDC Group plc, 123 Victoria Street, London SW1E 6DE, United Kingdom, Attention: Rhyddid Carter, Tel: [phone], Email: [email protected]