REG - Boston International - Company Update

Boston International HoldingsAnnouncement

01/12/2025 10:30

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RNS Number : 6823J  Boston International Holdings PLC  01 December 2025

1 December 2025

BOSTON INTERNATIONAL HOLDINGS PLC

("BIH" or the "Company")

Update on Funding Arrangements and Status regarding Potential Acquisitions

The Directors of BIH wish to give an update on the Company's existing funding
arrangements and the status regarding potential acquisitions.

Funding arrangements

As announced by the Company on 17 March 2025, the Company entered into a
bridge loan facility agreement with Zarara Energy Limited ("ZEL"), the
Company's 60% shareholder, to assist with the Company's working capital
requirements (the "Loan Facility Agreement"). The Directors have recently
become aware that ZEL has experienced some short term liquidity issues arising
from an earlier loan (US$1.5 million) to an acquisition target, such that it
has not been able to meet its commitments to the Company under the Loan
Facility Agreement.  The Company has been informed that shareholders of ZEL
have entered into a settlement agreement with the acquisition target and are
now expecting to fully recover the loan money, with first repayment due to be
paid before 31 December 2025.  Such repayments will enable the Company to
recommence drawdowns from ZEL under the Loan Facility Agreement.

Status regarding Potential Acquisitions

Since completion on 29 October 2024 of the subscription by ZEL for 222,407,081
ordinary shares in the Company, the Board's efforts have focussed on finding a
suitable business to acquire by way of a reverse takeover ("RTO"). Over the
past year, the Directors have met various possible candidates, undertaken site
visits and conducted initial due diligence on several businesses - the last
being as recently as October 2025. Companies from Uzbekistan, Poland and
certain African countries, covering both the oil and gas and financial
services sectors, have been considered. Unfortunately, none of these
candidates have met the necessary criteria for a successful RTO.

The Board is presently in early discussions with several energy companies,
which will require further time to conclude. The Company will make further
announcement(s) if, and as soon as, transaction terms are agreed.

 

For further information, please contact:-

 Boston International Holdings Plc
 Christopher Pitman, Chairman       chris.pitman@bihplc.com

 

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