REG - Aura Renewable Acqns - Annual Results

Aura Renewable AcquisitionsAnnouncement

05/04/2023 07:15

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RNS Number : 3777V  Aura Renewable Acquisitions PLC  05 April 2023

Aura Renewable Acquisitions plc

("Aura" or "Company")

 

Annual Results

 

 

5 April 2023 - Aura Renewable Acquisitions plc, a UK-based company whose
objective is to invest in the global renewable energy sector supply chain and
thereby build shareholder value, is pleased to announce its maiden results for
the period from the date of incorporation on 4 November 2021 through to 31
December 2022.

Aura was formed as a special-purpose acquisition company focusing on the
Global Renewable Energy Sector Supply Chain, particularly on businesses in the
wind, solar, biomass, hydropower, carbon capture, waste management, energy
storage, smart grid and green hydrogen supply chain.

 

The Company raised gross proceeds of £1 million on admission to the Standard
Segment of the Official List of the Financial Conduct Authority and to trading
on the Main Market for listed securities of the London Stock Exchange in April
2022.  For the period ended 31 December 2022 the Company recorded a loss
before taxation of £236,000, a significant part of which related to the
expensed costs related to the listing. Our operating expenses are very closely
controlled, and the directors do not draw income during this pre investment
stage. As of 31 December 2022, the Company had bank balances of £809,000.

 

The Company continues to actively review potential acquisition targets at
various stages of development and operating in a number of geographic regions,
all of which have potential global relevance. We also continue to take
soundings from the investor community to thereby best fit investment appetite
with the opportunities available.

National governments have recently shown a common resolve to reflect the need
to focus on sustainable renewable energy, including the scale up of
affordable, clean, homegrown power to provide long term energy security in the
UK, investment incentives to speed the transition to low-carbon economy in the
US through the Inflation Reduction Act, and C$80 bn of tax credits over 10
years for clean technology and clean electricity in Canada.

Our investment horizon is relatively wide within our chosen sector, and we
will continue to assess and qualify what we believe to be value accretive
opportunities in the UK and overseas. When our ongoing evaluation and
investigation result in the potential for a transaction, the Company will give
the market appropriate notice.

 

John Croft, the Chairman of Aura commented:

 

"Since listing, Aura has been exploring targets in the UK and overseas which
could provide an opportunity to create significant growth in this crucially
important, exciting and fast-moving market sector. We have also consulted with
the Board's professional and business networks to raise the Company's profile
and reinforce its intentions and objectives to these potential introducers of
opportunities, as a result of which we have held early discussions with a
number of potential target companies for acquisition.

 

"The widespread economic and political uncertainty caused by supply chain
issues, inflation, interest rate rises, hostilities in Europe and further
afield, the lingering impact of Covid  and climate change, restricted capital
market activity during 2022. However, there are early signs that capital
market transactions may be beginning to resurface, and we remain more
confident than ever that the renewable energy sector will offer excellent
opportunities for acquisitive and organic growth. We are committed to ensure
that the Company and its stakeholders have the chance to share in these
opportunities."

 

Publication on website

A copy of this announcement is also available on the Company's website at
http://www.aurarenewables.com.

Enquiries

Aura Renewable Acquisitions
Plc
 
 

 John Croft (Non-Executive Chairman)     07785 315588
 Robin Stevens (Non-Executive Director)  07787 112059

 

 

Media enquiries

 Allerton Communications
 Peter Curtain            020 3633 1730
                          aurarenewables@allertoncomms.co.uk

 

LEI: 894500XA241IB9HL7147

 

Notes to Editors

Aura was established to acquire and then act as the holding company for
targeted businesses operating in the Global Renewable Energy Sector Supply
Chain, particularly participants in the wind, solar, biomass, hydropower,
carbon capture, waste management, smart grids and green hydrogen supply chain,
and their sub-sectors. These potential targets could range from raw materials
resourcing to power generation, energy storage and recycling.

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

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