Acquisition Update
04/12/2023 10:04
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RNS Number : 5547V Mustang Energy PLC 04 December 2023
4 December, 2023
Mustang Energy PLC
("MUST" or the "Company")
Acquisition Update
As referred to in its announcements dated 9 August 2023 and 12 September 2023,
the Company had entered into negotiations with the shareholders of VRFB
Holdings Limited ("VRFB-H"), being Bushveld Minerals Limited ("BMN") and
Acacia Resources Limited ("Acacia"), in respect of renegotiating the terms
under which the Company would acquire their interests in VRFB-H.
BMN, as referred to in its announcement dated 20 November 2023, is to commence
a formal sale process for its interest in VRFB-H. The Company has decided not
to participate in that sale process. As a result, Acacia and the Company have
concluded that it is not in either parties' best interest to pursue the
acquisition of Acacia's minority interest in VRFB-H and seek readmission on
that basis alone.
The Company continues to actively consider acquisition opportunities. Further
announcements will be made in due course.
ENQUIRIES
For further information, please visit www.mustangplc.com, follow us on Twitter
@Mustang_Plc, or contact:
Mustang Energy PLC
Dean Gallegos, Managing Director dg@mustangplc.com
+61 416 220 007
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