REG - Aura Renewable Acqns - Amendment of the rights of Warrants

Aura Renewable AcquisitionsAnnouncement

28/03/2025 16:00

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RNS Number : 7634C  Aura Renewable Acquisitions PLC  28 March 2025

Aura Renewable Acquisitions Plc

("ARA" or the "Company")

 

 28 March 2025

 This announcement contains inside information for the purposes of Article 7 of
 the EU Market Abuse Regulation No. 596/2014/EU, which forms part of domestic
 UK law pursuant to the European Union (Withdrawal) Act 2018, as amended. Upon
 release via a Regulatory Information Service, this information is in the
 public domain.

 Not for release, publication or distribution in whole or in part, directly or
 indirectly in, into or from any jurisdiction where to do so would constitute a
 violation of the relevant laws or regulations of such jurisdiction.

 Amendment of the rights of Warrants

 The Company is on today's date, 28 March 2025, sending letters to holders of
 the following warrants seeking their approval for certain amendments to be
 made to the rights of those warrants, which were granted at the time the
 Company was admitted to listing on the Official List of the Financial Conduct
 Authority and its shares to trading on the Main Market for listed securities
 of the London Stock Exchange:

 10,500,000 Aura Freely Transferable Warrants 2022;
 180,000 Aura Broker Warrants 2022;
 1,050,000 Aura Directors' Warrants 2022; and
 1,050,000 Aura Founder Warrants 2022.

 each constituted by a warrant instrument executed as a deed poll on 5 April
 2022 (together, "the Warrants").

 Proposed amendments to the rights of the Warrants

 The proposed amendments to the rights of the Warrants would result in:

 (a) the rights of the Aura Freely Transferable Warrants 2022 and of the Aura
 Broker Warrants 2022 being amended so as to:
   (i) reduce the Exercise Price of the Warrants from 15 pence (£0.15) to 10
   pence (£0.10) per ordinary share of £0.01 in the capital of the Company
   being subscribed for; and

   (ii) extend the Long Stop Date for exercising Warrants from 8 April 2025
   (three years from

   the date of Admission) to the date which is three years from completion of the
   first

   acquisition by the Company of a target company or business as part of the
   Company's overall

   business objective and strategy; and

 (b) the rights of the Aura Directors' Warrants 2022 being amended, so as to
 reduce the Exercise Price of the Warrants from 15 pence (£0.15) to 10 pence
 (£0.10) per Share subscribed for; and

 (c)  the rights of the Aura Founder Warrants 2022 being amended, so that the
 conditions to vesting will be:

   (i) the initial acquisition has been completed; and

   (ii) the 30 day Volume Weighted Average Price of the Company's ordinary shares
   at any time after 8 April 2025 exceeds £0.10 per share (as adjusted to take
   account of any sub-division, consolidation or other change to the ordinary
   share capital of the Company after the date on which the warrant instrument
   was executed),

 the price in (ii) currently being £0.15 per share.

 The amendment to the rights of each class of Warrants requires the written
 prior approval of Warrant holders holding outstanding Warrants representing
 not less than 75 per cent. in number of the shares subject to the outstanding
 Warrants of that class. The directors consider the amendments to be fair and
 reasonable for the Warrant holders and the shareholders of the Company, and
 have recommended the Warrant holders to approve them.

 Copies of the current forms of the Warrant instruments can be viewed on the
 Company's website at https://aurarenewables.com. An announcement relating to
 the amendments becoming effective will released by the Company via RNS.

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 Contact Information

 Aura Renewable Acquisitions Plc

 John Croft, Chairman: +44 77 8531 5588

 LEI: 894500XA241IB9HL7147

 

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This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
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