REG - ACG Acquisition Co. - Results of Redemption Elections

ACG MetalsAnnouncement

24/10/2023 07:00

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RNS Number : 0886R  ACG Acquisition Company Limited  24 October 2023

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THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS
INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE
REGULATION (EU NO. 596/2014), AS IT FORMS PART OF THE UNITED KINGDOM DOMESTIC
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED

 

24 October 2023

 

ACG Acquisition Company Limited ("ACG" or the "Company")

Results of Redemption Elections

 

As announced on 17 October 2023, the Company has convened a meeting of its
Shareholders (the "Extension EGM") to be held on 25 October 2023 for the
purpose of considering and, if thought fit, voting to approve the proposed
Extension by way of an amendment to the Memorandum and Articles of the
Company, all as described in the Shareholders Circular and Notice of
Extraordinary General Meeting of Shareholders published by the Company on the
same day (the "Extension EGM Circular"). As further described in the
Extension EGM Circular, the Company is also providing Class A Ordinary
Shareholders with the right to redeem their Class A Ordinary Shares.

 

Following the expiration of the deadline for Class A Ordinary Shareholders to
submit their redemption elections, the Company announces today that the number
of Class A Ordinary Shares redeemed by Class A Ordinary Shareholders is as
follows:

 

 Class A Ordinary Shares redeemed      Class A Ordinary Shares not redeemed
 Amount             %*                 Amount               %*
 12,471,732         99.77              28,268               0.23

 

*Percentage of the total amount of outstanding Class A Ordinary Shares prior
to the publication of the Extension EGM Circular (i.e., 12,500,000 Class A
Ordinary Shares), rounded to two decimal places.

 

As described in the Extension EGM Circular, Class A Ordinary Shareholders who
validly elected to redeem all or a portion of their depositary interests in
the Class A Ordinary Shares on or before the Election Cut-off Time shall have
such depositary interests in the Class A Ordinary Shares redeemed and payment
in respect of these will be made by Link Market Services Trustees Limited,
acting as Depositary, as soon as possible on or after 26 October 2023. The
final redemption price is $10.7991 per Class A Ordinary Share.

 

All capitalized terms used but not defined in this announcement have the
meaning given to them in the Extension EGM Circular.

 

About the Company

 

ACG Acquisition Company Limited is a SPAC looking to benefit from favourable
price conditions for new economy metals and other mining materials.

 

The Company aims to optimise its expertise in global mining by combining with
a mining company that produces materials characterised by supply constraints
and rising long-term demand. The combined entity will capitalise on the need
for resource security and geographic supply diversification, as well as the
global energy transition.

 

ACG's team has extensive M&A experience built through decades spent at
blue-chip multinationals in the sector. The team brings a significant network,
including access to many mining companies as well as a commitment to ESG
principles and strong corporate governance.

 

For more information about ACG, please visit: www.acgcorp.co
(http://www.acgcorp.co/)

 

Forward-looking statements

 

Some of the information in these materials may contain projections or other
forward-looking statements regarding future events or the future financial
performance of the Company. You can identify forward looking statements by
terms such as "expect", "believe", "anticipate", "estimate", "intend", "will",
"could", "may" or "might" the negative of such terms or other similar
expressions. The Company wishes to caution you that these statements are only
predictions and that actual events or results may and often do differ
materially. The Company does not intend to update these statements to reflect
events and circumstances occurring after the date hereof or to reflect the
occurrence of unanticipated events. Any forward-looking statements reflect the
Company's current view with respect to future events and many factors could
cause the actual results to differ materially from those contained in
projections or forward-looking statements of the Company, including, among
others, ACG's ability to obtain adequate information to evaluate the target
assets, ACG's ability to successfully or timely complete the contemplated
acquisition, ACG's and Appian Capital's expectations around the performance of
the target assets, ACG's potential ability to obtain additional financing to
complete the contemplated acquisition and the financial performance of the
enlarged group that would result from the potential completion of the
contemplated acquisition. Forward-looking statements speak only as of the date
they are made.

 

Inside information

 

This announcement contains inside information for the purposes of the market
abuse regulation (EU No. 596/2014), as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018, as
amended.

 

Important notices

 

This announcement or any part of it does not constitute or form part of any
offer to issue or sell, or the solicitation of an offer to acquire, purchase,
subscribe for, any securities.

 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This announcement is not
an offer of securities for sale into the United States. The securities of the
Company have not or will not be registered under the

U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.

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