Leader Environmental Technologies has converted $5.1 million of its advances to United Greentech into issued and paid-up share capital into the latter.

Following the conversion, the company’s investment into United Greentech has increased from $1 million to $6.1 million.

The company’s effective interest in United Greentech remains unchanged at 100%.

SEE: Leader Environmental Technologies secures $11.5 mil contract to treat and recycle industrial wastewater

The increase in share capital is not expected to have any material impact in the company’s earnings per share (EPS) or net tangible assets (NTA) per share, says Leader Environmental Technologies.

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Shares in Leader Environmental Technologies closed 0.3 cent higher or 2.3% up at 13.2 cents on Jan 8.