Updated Transaction Information
07/08/2024 11:50
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RNS Number : 5788Z ACP Energy PLC 07 August 2024
7 August 2024
ACP ENERGY PLC
("ACP" or "the Company")
Updated Transaction Information
ACP Energy Plc (ACPE.L), a company formed to capture value accretive
opportunities in the natural resources sector, is announcing that the Company
considers completing its original transaction with Vinccler C.A. to now be
very unlikely due to, inter alia, the political situation in Ecuador and
elsewhere in Latin America, and the withdrawal of one of the Company's funding
partners following a sudden death. The Directors have, therefore, entered into
a conditional agreement ("Agreement") with a private Singaporean-based company
intended to, ultimately, result in the purchase of a royalty interest of a
natural resources asset ("Transaction"). If completed, the Agreement will
additionally provide the Company with short-term funding, and a further
announcement will be made in due course.
In the event that a Transaction is completed, it will constitute a reverse
takeover under the Listing Rules. The Transaction will be subject to the
satisfaction of certain conditions, including:
1. the approval of the required share authorities and other ancillary
matters to be set out in a Notice of General Meeting by shareholders of the
Company;
2. the successful completion of further fundraising activities to, inter
alia, satisfy any consideration for the purchase of the royalty stream and to
provide the Company with sufficient working capital;
3. the ordinary shares of the Company being admitted to trading on the AIM
market of the London Stock Exchange plc ("Admission").
At this stage, there can be no guarantee that the Transaction will complete
nor as to the final terms of the Transaction or that Admission will occur.
Further announcements and updates will be made in due course.
Paul Welch
Executive Chairman
For further information:
www.acpenergyplc.com (http://www.acpenergyplc.com)
ACP Energy
Paul Welch, Chairman
+44 207 193 2376 /
stacey@acpenergyplc.com
Celicourt Communications
+44 208 434 2643 / acpenergy@celicourt.uk
Mark Antelme / Jimmy Lea
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