REG - ACG Acquisition Co. - Update on the Company

ACG MetalsAnnouncement

12/10/2023 07:00

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RNS Number : 9105P  ACG Acquisition Company Limited  12 October 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR
ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

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

 

12 October 2023

 

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

Update on the Company

 

Further to its announcement on 28 September 2023, ACG announces today that,
pursuant to its Memorandum and Articles, it intends to cease all operations
except for the purpose of winding up in accordance with the laws of the
British Virgin Islands, ACG's jurisdiction of incorporation. Accordingly,
Public Shareholders who hold Class A Ordinary Shares as at 8:00 a.m. (UK time)
on 18 October 2023 shall have their Class A Ordinary Shares automatically
redeemed and payment in respect of such Class A Ordinary Shares will be made
through CREST by the Depositary, Link Market Services Trustees Limited, as
promptly as reasonably possible and the Company intends that such payment be
made by no later than 26 October 2023, all in accordance with Regulation 26 of
ACG's Memorandum and Articles. Upon completion of a liquidation of ACG, the
Warrants will expire worthless and holders will no longer have any rights
thereunder.

 

Notwithstanding the above, the Company is currently in discussions with the
Co-Sponsors and certain IPO Institutional Investors regarding a potential
extension of the Company's operations. No assurance can be given that an
agreement for such extension will be reached by ACG, the Co-Sponsors and the
IPO Institutional Investors. If agreed, any such extension would be effected
through an amendment to the Memorandum and Articles of ACG to be voted on by
its Shareholders. Upon approval of any such amendment, Public Shareholders
will have the opportunity to redeem their Class A Ordinary Shares in exchange
for the amounts they are entitled to receive under ACG's Memorandum and
Articles.

 

Further announcements will be made in due course.

 

Capitalised terms used in this announcement have the meaning set forth in the
prospectus relating to the Acquisition approved by the U.K. Financial Conduct
Authority and published by ACG on 30 June 2023.

 

 

- ENDS -

 

The person responsible for the release of this information on behalf of the
Company is Artem Volynets, Chief Executive Officer.

 

For further information please contact:

 

Palatine
 
acg@palatine-media.com

Communications Advisor

Conal Walsh / Andreas Grueter / Richard Seed / Kelsey Traynor

 

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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