REG - i(x) Net Zero PLC - Update re Enphys Acquisition Corp

I (X) Net ZeroAnnouncement

25/07/2024 07:00

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RNS Number : 7412X  i(x) Net Zero PLC  25 July 2024

25 July 2024

i(x) Net Zero PLC

("i(x) Net Zero" or the "Company")

Update re Enphys Acquisition Corp.

 

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on the
Energy Transition, announces that Enphys Acquisition Corp. ("Enphys") has been
informed by The New York Stock Exchange LLC ("NYSE" or "Exchange") that the
staff of NYSE Regulation has determined to commence proceedings to delist
Enphys Acquisition Corp.'s Class A ordinary shares, par value $0.0001 per
share ("Class A Ordinary Shares"), units, each consisting of one Class A
Ordinary Share and one-half of one redeemable warrant (the "Units"), with each
warrant exercisable for one share of Class A Ordinary Share of Enphys (the
"Warrants"), and Warrants (NYSE ticker symbols NFYS, NFYS.U and NFYS.WS,
respectively) from the NYSE. Trading in these three securities on the NYSE has
been suspended.

 

NYSE Regulation reached its decision to delist Enphys's Securities pursuant to
Section 802.01B of the NYSE's Listed Company Manual because Enphys had fallen
below the NYSE's continued listing standard requiring a listed acquisition
company to maintain an average aggregate global market capitalization
attributable to its publicly-held shares over a consecutive 30 trading day
period of at least $40,000,000.

 

Effective as of 25 July 2024, the Class A Ordinary Shares, Units, and Warrants
may be quoted and traded in the over-the-counter ("OTC") market under the
ticker symbols "NFSCF," "NFSUF," and "NFSWF," respectively.

 

The Company's equity interest in Enphys remains unchanged and the Board does
not believe that there is any change to the carrying NAV of Enphys as a result
of the NYSE decision to delist and the Board has continued confidence in the
holding and options for generating a return for shareholders.

 

 

For further information visit https://ixnetzero.com/
(https://url.avanan.click/v2/___https:/ixnetzero.com/___.YXAzOml4bmV0emVybzphOm86MWI5YTUyZmU4NmZiYWI5OGVjZjRmZWM5ZWRkZjg5OTE6NjpjYzE3OjFhMDNjOTMyMzEzNzkxYzkxY2QxYjg4YWRmYmExMjg5Y2FiNWM1YTQxYmExMjVlNDBhYTVjM2Q0YjZjZTI4NGQ6cDpU)
 or contact:

 i(x) Net Zero                               Via Buchanan below
 Pär Lindström - Chief Executive Officer
 Jonathan Stearns - Chief Financial Officer

 Canaccord Genuity Limited                   +44 20 7523 8000

 Nominated Adviser & Broker
 Max Hartley
 Harry Pardoe

 Burson Buchanan
 Helen Tarbet                                +44 7872 604 453
 Simon Compton                               +44 7979 497 324
 Abby Gilchrist                              +44 7717 480 063

 

 

Notes to Editors

 

About i(x) Net Zero PLC

 

i(x) Net Zero PLC is an AIM quoted investing company that provides its
shareholders the opportunity to create long-term capital growth with
positive, scalable, measurable and sustainable impact on the environment and
on the communities it serves.

 

In accordance with its belief that the world's biggest problems are also the
biggest market opportunities, i(x) Net Zero focuses on two critical areas in
which it aims to make a positive impact: (i) Energy Transition and (ii)
Sustainability in the Built Environment. The Company uses a multi-strategy
investment approach, providing the companies in which it invests with the
expertise and catalytic capital to help them grow. To date, i(x) Net Zero has
invested in biofuels, direct air capture (carbon removal), renewable energy,
sustainable workforce housing and net zero construction technology.

 

i(x) Net Zero is a signatory to the UN Principles for Responsible
Investing. The Company has received the London Stock Exchange's Green Economy
Mark.

 

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