REG - Aura Renewable Acqns - Half-year Report
02/09/2025 07:00
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RNS Number : 5428X Aura Renewable Acquisitions PLC 02 September 2025
Aura Renewable Acquisitions plc
("Aura" or "Company")
Interim Results for the six months ended 30 June 2025
2 September 2025 - Aura Renewable Acquisitions plc, a UK-based company, whose
objective is to invest in the global renewable energy sector supply chain, or
another sector showing high growth potential, and thereby build shareholder
value, announces its interim results for the six-months ended 30 June 2025.
Highlights
· Close control over overheads resulted in a loss before and after tax
for the period of £63,685, EPS 0.6p (loss) (2024: £61,140 and 0.7p (loss).
· Cash resources at £397,000 at 30 June 2025 (31 December 2024:
£486,000).
· Targeting acquisitions operating in a range of high growth sectors,
initially the Global Renewable Energy Sector Supply Chain now extended to
other sectors showing high growth potential, such as Healthcare and Life
Sciences.
· Experienced board with extremely strong sector experience and a clear
expansion strategy.
· Greater visibility towards potential targets with a wider sector
focus.
· Flexible post transaction market strategy depending on size,
structure, location and tax status.
· Best practice ESG policies will be put in place to support and
encourage sustainability across our business.
John Croft, the Chairman of Aura commented:
"Aura was established to identify and acquire businesses operating in the
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. Potential targets could
range from raw materials resourcing to power generation, energy storage and
recycling.
"The Company raised £1,050,000 when it joined the Standard Segment of the
Main Market of the London Stock Exchange in April 2022, and is now listed in
the Equity Share (Shell Companies) segment. Since the IPO the business
continues to incur minimal overheads pending identification of a suitable
acquisition target. This is reflected in our net loss before taxation for the
six-month period of £63,685 (2024: £61,928 (loss)), and that at 30 June
2025, we had retained cash and bank resources of £397,000.
"At a time when raising capital on financial markets remains challenging due
to investor scepticism and economic uncertainty, we retain our cautious
approach to our first acquisition.
"Economic and political uncertainty continue to be significant challenges.
Although interest rates have slightly decreased, inflation remains
persistently above target levels and may be on the rise. While overall
activity in capital markets and new issues has been low, there are signs of a
recovery in the IPO market, particularly in transactions involving reverse
takeovers. Secondary offerings have also been well received in sectors where
both organic and acquisitive growth can be clearly demonstrated.
"There is a widespread recognition of the dangers of global warming and its
effects on populations, habitats and landscapes. On 25 June 2025, the UK
Government reaffirmed its commitment to advancing the change from fossil fuels
to low-carbon, renewable energy sources, announcing a 10-year industrial
strategy aimed at making Britain a 'clean energy superpower' by accelerating
the adoption of energy transition technologies. However, concerns about
short-term costs and energy security - often misplaced - along with a general
lack of understanding of renewable energy opportunities, and occasionally
political motivations, have hindered economic activity and delayed medium-term
investment decisions.
"In view of this, and as mentioned in our 2024 Annual Report, the board
decided to expand the Company's acquisition criteria beyond the global
renewable energy sector supply chain, to access a wider range of potential
targets. Specifically, we are exploring other industries characterised by
strong macroeconomic fundamentals that have opportunities for innovation
driven by new technologies and artificial intelligence (AI), where new
entrants can achieve growth through acquisition and consolidation. We are
encouraged by the quality and potential scalability of some of the
opportunities that have been presented to us from these wider sectors.
"We will provide further details regarding any changes to our acquisition
criteria to investors in due course, but we are currently focusing on the
healthcare and life sciences markets, alongside renewable energy.
"We maintain our cautious approach in seeking the right transaction and are
committed to ensuring that the Company and its stakeholders share in its
prospects, all while closely managing overhead costs. We remain aware of our
environmental, social and governance responsibilities to shareholders and
other stakeholders, and continue to follow market best practice.
"I would like to thank my fellow board members and our advisers for their
continued guidance and support. There is no doubt that within our team we have
the skills, experience and connections to capitalise on the opportunities that
exist in identifying a suitable acquisition."
Enquiries
Aura Renewable Acquisitions Plc
John Croft (Non-Exec Chairman) 07785315588
Robin Stevens (Non-Exec Director) 07468522934
Media enquiries
Allerton Communications
Peter Curtain 020 3633 1730
aurarenewables@allertoncomms.co.uk (mailto:aurarenewables@allertoncomms.co.uk)
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. The board has subsequently decided to widen the range
of high growth sectors in which the Company is seeking to identify and
complete an acquisition. As a consequence of the new UK Listing Rules
introduced by the Financial Conduct Authority, which came into force on 29
July 2024, the Company has been included in the shell companies' category of
the Official List
Inside Information
The information contained within this announcement is deemed by Aura to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) no. 596/2014. On the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain.
Aura Renewable Acquisitions Plc
Registered number 13723431
UNAUDITED CONDENSED INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2025
Chairman's statement
It is my pleasure to present the unaudited interim results for Aura Renewable
Acquisitions Plc (Aura or the Company) for the six months ended 30th June
2025.
Background
Aura was established to identify and acquire businesses operating in the
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. Potential targets could
range from raw materials resourcing to power generation, energy storage and
recycling.
Results and activities
The Company raised £1,050,000 when it joined the Standard Segment of the Main
Market of the London Stock Exchange in April 2022, and since the IPO the
business continues to incur minimal overheads pending identification of a
suitable acquisition target. This is reflected in our net loss before taxation
for the six-month period of £63,685 (2024: £61,140 (loss)), and that at 30
June 2025 we had retained cash and bank resources of £397,000. On 9 December
2024, Aura announced that it had entered into heads of terms with Zero Carbon
Capital Limited ("ZCT"), a UK incorporated company with planned battery
recycling operations in Europe, which set out the key terms for Aura to
acquire 100% of the issued share capital of ZCT. On further investigation and
consideration, the board concluded that it would not be in the best interests
of the Company's shareholders to pursue the proposed acquisition and, as
notified to the market on 15th April 2025, the Company gave notice to ZCT that
the heads of terms and the discussions relating to the proposed transaction
were terminated.
Market factors and widening of our sector focus
At a time when raising capital on financial markets remains challenging
difficult due to investor scepticism and economic uncertainty, we retain our
cautious approach to our first acquisition.
Economic and political uncertainty continue to be significant challenges.
Although interest rates have slightly decreased, inflation remains
persistently above target levels and may be on the rise. While overall
activity in capital markets and new issues has been low, there are signs of a
recovery in the IPO market, particularly in transactions involving reverse
takeovers. Secondary offerings have also been well received in sectors where
both organic and acquisitive growth can be clearly demonstrated.
There is a widespread recognition of the dangers of global warming and its
effects on populations, habitats and landscapes. On 25 June, the UK Government
reaffirmed its commitment to advancing the change from fossil fuels to
low-carbon, renewable energy sources, announcing a 10-year industrial strategy
aimed at making Britain a 'clean energy superpower' by accelerating the
adoption of energy transition technologies. However, concerns about short-term
costs and energy security - often misplaced - along with a general lack of
understanding of renewable energy opportunities, and occasionally political
motivations, have hindered economic activity and delayed medium-term
investment decisions.
In view of this, and as mentioned in our 2024 Annual Report, the board decided
to expand the Company's acquisition criteria beyond the global renewable
energy sector supply chain, to access a wider range of potential targets.
Specifically, we are exploring other industries characterised by strong
macroeconomic fundamentals that have opportunities for innovation driven by
new technologies and artificial intelligence (AI), where new entrants can
achieve growth through acquisition and consolidation. We have encouraged by
the quality and potential scalability of some of the opportunities that have
been presented to us from these wider sectors.
We will provide further details regarding any changes to our acquisition
criteria to investors in due course, but we are currently focusing on the
healthcare and life sciences markets, alongside renewable energy.
We maintain our cautious approach in seeking the right transaction and are
committed to ensuring that the Company and its stakeholders share in its
prospects, all while closely managing overhead costs. We remain aware of our
environmental, social and governance responsibilities to shareholders and
other stakeholders, and continue to follow market best practice.
Changes to the UK Listing Rules
As a consequence of the new UK Listing Rules introduced by the Financial
Conduct Authority, which came into force on 29 July 2024, the Company has
automatically been included in the shell companies' category of the Official
List. This category imposes additional requirements, including a time limit on
completing an initial transaction, the requirement to appoint a Sponsor to
advise on the initial transaction and amending the Articles to incorporate
provisions providing for new time limits on the first transaction described
below.
There was a transition period of one year during which those additional
requirements will not apply. As the initial acquisition was not completed
within that first year, the above requirements were reflected in a change to
the Company's Articles in May 2025, which stated, inter alia, that "If the
Company has not completed an initial transaction during the period ending on
29 July 2027 (Initial Period), it will cease operations on that date, unless
Article 140.3 applies summarised below:
140.3. The Initial Period can be extended before the end of that period by
three further periods of 12 months, up to a total of 36 months, provided that:
· the first 12-month extension to the Initial Period is approved by
public shareholder majority before the end of that period; and
· any further 12-month extension periods are approved by public
shareholder majority before the end of the prior 12-month period.
· Any such extension must be notified to a Regulatory Information
Service before the end of the Initial Period or the period referred to in
Article 140.3, as applicable."
I would like to thank my fellow board members and our advisers for their
continued guidance and support. There is no doubt that within our team we have
the skills, experience and connections to capitalise on the opportunities that
exist in identifying a suitable acquisition.
John Croft
Non-Executive Chairman
2 September 2025
Principal Risks and Uncertainties
The Directors consider the principal risks and uncertainties facing the
Company and a summary of the key measures taken to mitigate those risks are as
follows:
Operational risks - difficulties in acquiring suitable targets
The Company's strategy is dependent to a significant extent on its ability to
identify sufficient suitable acquisition opportunities and to execute these
transactions at a price and on terms consistent with the Company's strategy.
In particular, in order to qualify for re-admission to the Official List
following an acquisition, the expected aggregate market value of the issued
Ordinary Shares on such re-admission would have to be at least £30 million.
However, it is possible that the board might decide to seek admission to the
AIM Market at the time of its first acquisition, where no such size
constraints exist, rather than re-join the Official List.
If the Company cannot identify suitable acquisitions, or successfully execute
any such transactions, this will have an adverse effect on its financial and
operational performance, and it will be unable to achieve its strategic
objectives.
In the event of the completion of an acquisition, the Company will adopt a
formal treasury policy which will be reviewed and approved by the Audit
Committee on an annual basis. The treasury policy will cover all areas of
treasury risk including foreign exchange, interest rate, counterparty and
liquidity.
The success of the Company's business strategy is also dependent on the
subsequent performance of the acquired entities.
The directors seek to manage these risks by leveraging the experience of the
skill sets of the non-executive directors to prudently identify, pursue and
execute on acquisition opportunities. The review of acquisition targets
involves and assessment of the target's business and the markets it operates
in, its business plans and management capabilities.
CONDENSED STATEMENT OF COMPREHENSIVE INCOME
The unaudited condensed interim statement of comprehensive income of the
Company for the six months ended 30 June 2025 is stated below.
Note Six months ended Six months ended
30 June 30 June
2025
2024
(unaudited) (unaudited)
£
£
Revenue - -
Administrative expenses 6 (66,679) (61,923)
Operating loss (66,679) (61,923)
Finance income 8 2,994 783
Loss before taxation (63,685) (61,140)
Income tax 9 - -
Total comprehensive loss for the period attributable to the equity holders (63,685) (61,140)
Basic and diluted earnings per ordinary share attributable to the equity 10 (0.006) (0.006)
holders (£)
There was no other comprehensive income in the period. All activities relate
to continuing operations.
The accompanying notes on pages 10-15 form part of these interim condensed
financial statements
CONDENSED STATEMENT OF FINANCIAL POSITION
The unaudited condensed interim statement of financial position of the Company
at 30 June 2025 is stated below:
Note At 30 June At 31 December
2025
2024
(unaudited) (audited)
£
£
ASSETS
Current assets
Cash and cash equivalents 11 396,736 485,642
Other receivables - prepayments 3,300 9,623
Total assets 400,036 495,265
LIABILITIES
Current liabilities
Accruals 13,360 44,904
13,360 44,904
Total liabilities
EQUITY
Equity attributable to owners
Ordinary share capital 12 150,000 150,000
Share premium 855,000 855,000
Share based payment reserve 19,223 19,223
Retained losses (637,547) (573,862)
Total equity attributable to Shareholders 386,676 450,361
Total equity and liabilities 400,036 495,265
CONDENSED STATEMENT OF CASH FLOWS
The unaudited condensed interim statement of cash flows of the Company for the
six months ended 30 June 2025 is stated below:
Six months Six months ended
30 June
ended
2024
30 June
2025 (unaudited)
£
(unaudited)
£
Cash flows from operating activities
Loss before income tax (63,685) (61,140)
Decrease in payables (31,544) (9,997)
Decrease / (increase) in prepayments 6,323 (831)
Interest received (2,994) (783)
Net cash used in operating activities (91,900)
(72,751)
Cash flows from investing activities
Interest received 2,994 783
Net cash from investing activities 2,994
783
Net decrease in cash and cash equivalents (88,906) (71,968)
Cash and cash equivalents at beginning of period 485,642 661,499
Cash and cash equivalents at end of period
396,736 589,531
CONDENSED STATEMENT OF CHANGES IN EQUITY
The unaudited condensed interim statement of statement of changes in equity of
the Company for the six months ended 30 June 2025 is stated below:
Ordinary Retained earnings Total equity
share capital
Share Share-based payment reserve
premium
£ £ £ £ £
At 1 January 2024 150,000 855,000 19,223 (388,770) 635,453
- - - (61,140) (61,140)
Loss for the period
Comprehensive loss for the period
Total comprehensive loss for the period - - - (61,140) (61,140)
Transactions with owners in the period
Share-based payment charges - - - - -
Total transactions with owners - - - - -
At 30 June 2024 150,000 855,000 19,223 (449,910) 574,313
As at 1 January 2025 150,000 855,000 19,223 (573,862) 450,361
- - - (63,685) (63,685)
Loss for the period
Comprehensive loss for the period
Total comprehensive loss for the period - - - (63,685) (63,685)
Transactions with owners in the period
Share-based payment charges - - - - -
Total transactions with owners - - - - -
At 30 June 2025 150,000 855,000 19,223 (637,547) 386,676
NOTES TO THE INTERIM FINANCIAL STATEMENTS
1 General information
The Company was incorporated on 4 November 2021 as Aura Renewable Acquisitions
Plc in England and Wales with company number 13723431 under the Companies Act
2006.
The address of its registered office is 35 Ballards Lane, London, N3 1XW.
The principal activity of the Company is to act as the holding company for
various target businesses operating in the Global Renewable Energy Sector
Supply Chain.
The entire issued ordinary share capital of 10,500,000 ordinary shares of
£0.01 each was admitted to listing on the standard segment of the Official
List of the Financial Conduct Authority and to trading on the main market for
listed securities of London Stock Exchange plc under the TIDM "ARA" on 8 April
2022.
On 29 July 2024, the Listing Rules were replaced by the UK Listing Rules
("UKLR") under which the existing Standard Listing category was replaced by
the Equity Shares (transition) category under Chapter 22 of the UKLR.
Consequently, with effect from that date, the Company has automatically been
included in the shell companies' category of the Official List.
2 Basis of preparation
The principal accounting policies applied in the preparation of the Company's
condensed interim financial statements are set out below. These policies have
been consistently applied to the period presented, unless otherwise stated.
The unaudited condensed interim financial statements have been prepared in
accordance with the Disclosure and Transparency Rules of the Financial Conduct
Authority and International Accounting Standard 34 "Interim Financial
Reporting" (IAS 34). These condensed interim financial statements have been
prepared under the historical cost convention.
These condensed interim financial statements do not include all of the
information required for a complete set of IFRS financial statements. However,
selected explanatory notes are included to explain events and transactions
that are significant to an understanding of the changes in the Company's
financial position and performance during the six-month period ended 30 June
2025.
The condensed interim financial statements are unaudited and have not been
reviewed by the auditors and were approved by the board of directors on 2
September 2025.
The Financial Statements are presented in £ unless otherwise stated which is
the Company's functional and presentational currency.
Going concern
The Financial Statements has been prepared on a going concern basis. The
Directors have a reasonable expectation that the Company has adequate
resources to continue in operational existence for the foreseeable future.
Thus, they continue to adopt the going concern basis of accounting in
preparing the Financial Statements.
The financial position of the Company, its cash flows and liquidity position
are set out in these financial statements. As at 30 June 2025, the Company had
cash and cash equivalents of £396,736.
The Company has prepared monthly cash flow forecasts that supports the
conclusion of the Directors that they expect sufficient funding to be
available to meet the Company's anticipated cash flow requirements for at
least the next 12 months.
3 Significant accounting policies
The Company's Financial Statements are based on the following policies which
have been consistently applied:
Cash and cash equivalents
The Directors consider any cash on short-term deposits and other short-term
investments to be cash equivalents.
The Company considers the credit ratings of banks in which it holds funds in
order to reduce its exposure to credit risk. The Company will only keep its
holdings of cash and cash equivalents within institutions which have a strong
credit rating.
Trade and other receivables
Receivables are initially recognised at fair value when related amounts are
invoiced then carried at this amount less any allowances for doubtful debts or
provision made for impairment of these receivables.
Trade and other payables
These financial liabilities are all non-interest bearing and are initially
recognised at the fair value of the consideration payable..
Financial instruments
Initial recognition
A financial asset or financial liability is recognised in the statement of
financial position of the Company when it arises or when the Company becomes
part of the contractual terms of the financial instrument.
Derecognition
A financial asset is derecognised when:
- the rights to receive cash flows from the asset have expired, or
- the Company has transferred its rights to receive cash flows from
the asset or has undertaken the commitment to fully pay the cash flows
received without significant delay to a third party under an arrangement and
has either (a) transferred substantially all the risks and the assets of the
asset or (b) has neither transferred nor held substantially all the risks and
estimates of the asset but has transferred the control of the asset.
Earnings per share
The Company presents basic and diluted earnings per share ("EPS") data for its
ordinary shares. Basic EPS is calculated by dividing the profit or loss
attributable to ordinary shareholders of the Company by the weighted average
number of ordinary shares outstanding during the period. Diluted EPS is
calculated by adjusting the earnings and number of shares for the effects of
dilutive potential ordinary shares.
Equity
An equity instrument is any contract that evidences a residual interest in the
assets of the Company after deducting all of its liabilities. Equity
instruments issued by the Company are recorded at the proceeds received net of
direct issue costs.
Ordinary shares are classified as equity.
- Share capital account represents the nominal value of the shares
issued.
- The share premium account represents premiums received on the initial
issuing of the share capital. Any transaction costs associated with the
issuing of shares are deducted from share premium, net of any related income
tax benefits.
- The share-based premium reserve arises from the requirement to value
share warrants in existence at the period end at fair value.
- Retained earnings comprise cumulative results as disclosed in the
Statement of Comprehensive Income.
Taxation
Tax currently payable is based on taxable profit or loss for the period.
Taxable profit or loss differs from profit or loss as reported in the income
statement because it excludes items of income and expense that are taxable or
deductible in other periods and it further excludes items that are never
taxable or deductible. The Company's liability for current tax is calculated
using tax rates that have been enacted or substantively enacted by the balance
sheet date.
Deferred tax is recognised on differences between the carrying amounts of
assets and liabilities in the financial statements and the corresponding tax
bases used in the computation of taxable profit and is accounted for using the
balance sheet liability method. Deferred tax liabilities are generally
recognised for all taxable temporary differences and deferred tax assets are
recognised to the extent that it is probable that taxable profits will be
available against which deductible temporary differences can be utilised. Such
assets and liabilities are not recognised if the temporary difference arises
from initial recognition of goodwill or from the initial recognition (other
than in a business combination) of other assets and liabilities in a
transaction that affects neither the taxable profit nor the accounting profit.
Deferred tax liabilities are recognised for taxable temporary differences
arising on investments in subsidiaries and associates, and interests in joint
ventures, except where the Company is able to control the reversal of the
temporary difference and it is probable that the temporary difference will not
reverse in the foreseeable future.
The carrying amount of deferred tax assets is reviewed at each balance sheet
date and reduced to the extent that it is no longer probable that sufficient
taxable profits will be available to allow all or part of the asset to be
recovered.
4 New standards, interpretations and amendments
adopted from 1 January 2025:
There are no accounting pronouncements which have become effective from 1
January 2025 that have a significant impact on the Company's interim condensed
financial statements.
The following new amendments are effective for the period beginning 1 January
2025:
- Lack of exchangeability (Amendments to IAS 21 The Effects of Changes
in Foreign Exchange Rates)
5 Critical accounting estimates and judgments
In preparing the condensed interim financial statements, the Directors have to
make judgments on how to apply the Company's accounting policies and make
estimates about the future.
The Directors do not consider there to be any critical judgments that have
been made in arriving at the amounts recognised in the condensed interim
financial statements.
6 Operating expenses by nature
Administrative expenses Six months ended 30 June 2025 Six months
£
ended 30
June 2024
£
Legal and professional costs 11,233 7,030
Regulatory costs 22,415 14,043
Website costs 4,770 4,668
Company secretarial 7,955 5,719
Broking costs 3,600 10,800
Share registrars 4,095 2,982
Assessment of acquisition opportunities 10,000 13,867
Other expenses 2,611 2,814
Total administrative expenses 66,679 61,923
7 Directors and employees
There were no employees during the period. None of the Directors received any
remuneration during the period.
8 Finance income
Interest received Six months ended 30 June 2025 Six months ended 30 June 2024
£
£
Interest received on bank deposits 2,994 783
Total finance income 2,994 783
9 Taxation
The Company has made no provision for taxation as it has not yet generated any
taxable income. A reconciliation of income tax expense applicable to the loss
before taxation at the statutory tax rate to the income tax expense at the
effective tax rate of the Company is as follows:
Six Six
months months ended 30 June 2024
£
ended 30
June 2025
£
Loss before taxation (63,685) (61,140)
Tax calculated at the statutory rate of 25% (30 June 2024: 22%) (15,921) (15,285)
Tax effects of:
Unrecognised tax losses 15,921 15,825
- -
Tax expense
As at 30 June 2025, the Company had estimated unutilised tax losses of
approximately £600,000 available for relief against future profits. No
related deferred tax asset has been provided for in the accounts based on the
uncertainty as to when profits will be generated against which to relieve such
asset.
10 Earnings per ordinary share
Basic earnings per ordinary share is calculated by dividing the earnings
attributable to Shareholders by the weighted average number of ordinary shares
outstanding during the period. Diluted earnings per share is calculated by
dividing earnings by the weighted average number of shares in issue and
potential dilutive shares outstanding during the period.
Because the Company was in a net loss position, diluted loss per share
excludes the effects of ordinary share equivalents consisting of warrants,
which are anti-dilutive.
Six Six months ended 30 June 2023
£
months ended
30 June 2024
£
Loss for the period attributable to shareholders (63,685) (61,140)
Weighted average number of shares in issue 10,500,000 10,500,000
Earnings per share (£) (0.006) (0.006)
11 Cash and cash equivalents
At 31 December
2024
At 30
£
June
2025
£
Cash at bank 396,736 485,642
396,736 485,642
12 Share capital and warrants
Number of Number of Deferred Shares Ordinary Total
Ordinary Shares
£
Shares Deferred Shares
£
£
At 31 December 2024 and 30 June 2025 10,500,000 45,000 1,050,000 - 1,050,000
Warrants
The Company granted a total of 12,780,000 unlisted Warrants, on Admission in
April 2022, in relation to the share capital of the Company.
On 2 April 2025, the following amendments were passed by the warrant holders:
(a) the rights of the Aura Freely Transferable Warrants 2022 and of the Aura
Broker Warrants 2022 were 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 were 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 were 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) previously being £0.15 per share.
No warrants were exercised in the period ended 30 June 2025 and accordingly
all 12,780,000 warrants remained outstanding.
13 Related party transactions
During the six months to 30 June 2025, Harmony Global Partners Limited, a
shareholder in the Company, provided services in connection with the
assessment of acquisition opportunities for fees totalling £10,000.
14 Post balance sheet events
There were no events arising after 30 June 2025 that require to be disclosed
as balance sheet events.
15 Ultimate controlling party
At 30 June 2025, the Company did not have any single identifiable controlling
party.
16. Half Year Report
A copy of this half year interim report, as well as the annual statutory
accounts to 31 December 2024 are available on the Company's website
http:www.aurarenewables.com.
Statement of Directors' Responsibilities
We confirm that this set of Condensed Interim Financial Statements:
· have been prepared in accordance with International Accounting
Standard 34, 'Interim Financial Reporting';
· gives a true and fair view of the assets, liabilities, financial
position and loss of the Company;
· includes a fair review of the information required by DTR 4.2.7R
of the Disclosure and Transparency Rules, being an indication of important
events that have occurred during the first six months of the financial period
and their impact on the set of interim financial statements; and a description
of the principal risks and uncertainties for the remaining six months of the
period.
· includes a fair review of the information required by DTR 4.2.8R
of the Disclosure and Transparency Rules, being the information required on
related party transactions.
A list of current directors is maintained on the Company's web site:
https://aurarenewables.com/about/ (https://aurarenewables.com/about/)
The Interim Report was approved by the Board of Directors and the above
responsibility statement was signed on its behalf by:
John Croft
By order of the Board
2 September 2025
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