Diamond Wood China Ltd made an offer to acquire Cleantech Building Materials Plc (LSE:CBM) in a reverse merger transaction on June 2, 2015. Under the offer, Diamond Wood shareholders will receive 6 newly issued shares of CBM in exchange for every 25 shares in Diamond Wood. The offer is conditional upon CBM receiving valid acceptances in respect of over 75% of the issued share capital of Diamond Wood and the final approval of the Directors of CBM.

The offer will remain open for acceptance by Diamond Wood shareholders until June 15, 2015 which may be extended at CBM election. The transaction is also subject to CBM submitting a request to delist from the Standard List of the London Stock Exchange and to seek admission to trading on the AIM Market of the London Stock Exchange. Elliot Hance of Beaufort Securities Limited and Tim Cofman of ZAI Corporate Finance Limited acted as financial advisors and Tim Metcalfe and Heather Armstrong of IFC Advisory acted as public relation advisors for Cleantech Building Materials Plc (LSE:CBM).