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RNS Number : 5154J AIM 05 April 2024
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")
COMPANY NAME:
European Green Transition plc
("European Green Transition", "EGT" or the "Company")
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
(INCLUDING POSTCODES) :
The Walbrook Building
25 Walbrook
London
United Kingdom
EC4N 8AF
COUNTRY OF INCORPORATION:
United Kingdom
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
www.europeangreentransition.com
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS
SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
STATED:
European Green Transition is a UK company developing a portfolio of green
economy assets in Europe which aims to capitalise on the opportunity created
by the green energy transition. The Company intends to implement a disciplined
M&A focused model and has already acquired an exciting portfolio of
assets, notably their principal Olserum Rare Earth Element (REE) project in
Sweden. The Company intends to utilise its experienced team and board to
acquire further green economy assets in Europe, with a particular focus on
distressed and/or undervalued assets, which includes critical materials
projects, solar projects, wind projects, rehabilitation projects and
processing projects.
EGT has developed a pipeline of opportunities and is led by an experienced
leadership team with a track record of building public companies. EGT's vision
is to build a sustainable and profitable business by successfully executing on
its strategy to develop a portfolio of green economy assets in Europe. The
Company's existing portfolio of green economy assets is anticipated to benefit
from the EU Critical Raw Materials Act (CRMA) which outlines key objectives
and policies to create transformational change to deliver on Europe's green
economy ambitions.
The Olserum project is one of Sweden's projects of "National Interest" as
designated by the Swedish Geological Survey and the directors believe it has
the potential to become Europe's first operating rare earths mine. EGT will
look to capitalise upon the significant forecast shortage of REEs by
monetising the asset through sale or partnership with financial institutions
and/or industry players. EGT does not intend to develop a mine but is
confident in its ability to find third parties to acquire or partner on the
project.
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
and issue price to which it seeks admission and the number and type to be held
as treasury shares):
144,620,892 Ordinary Shares of £0.0025 each.
Issue price per Ordinary Share - 10 pence.
There are no shares to be held as treasury shares and there are no
restrictions as to
transfer of the securities.
CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
MARKET CAPITALISATION ON ADMISSION:
Capital to be raised on Admission: c.£6.5 million.
Anticipated market capitalisation on Admission: c.£14.5 million.
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
c.59.2%
DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
(OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
N/A
THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)
N
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
first name by which each is known or including any other name by which each is
known):
Sven Anders Daniel Akselson - Non-Executive Chair
Aiden Joseph Lavelle - Chief Executive Officer
Jack Daniel Kelly - Chief Financial Officer
Cathal Martin Friel - Non-Executive Director
James Gerald Leahy - Non-Executive Director
FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first
name by which each is known or including any other name by which each is
known):
Shareholder % issued share capital prior to Admission % issued share capital upon to Admission
Raglan Road Capital Limited* 30.1% 13.8%
Cathal Friel 13.7% 5.3%
McNolan Venture Ltd 11.6% 5.1%
Jacqueline Hall 8.3% 3.2%
Jeremy Martin 8.3% 3.2%
Explora Minerals AB 0.0% 3.1%
Ian O'Connell 7.0% 2.7%
Aiden Lavelle 6.2% 2.4%
Paul Foord 3.2% 1.2%
Jack Kelly 3.2% 1.2%
* a company wholly owned and controlled by Cathal Friel (a director of the
Company) and his spouse.
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:
N/A
(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
(i) 31 December
(ii) Unaudited interim financial information for the six months
to 30 June 2023
(iii) 30 June 2024 (audited results for the 12 months to 31
December 2023)
(iii) 30 September 2024 (unaudited results for the 6 months to 30
June 2024)
(iii) 30 June 2025 (audited results for the 12 months to 31
December 2024)
EXPECTED ADMISSION DATE:
8 April 2024
NAME AND ADDRESS OF NOMINATED ADVISER:
Panmure Gordon (UK) Limited
40 Gracechurch Street
London
EC3V 0BT
NAME AND ADDRESS OF BROKER:
Panmure Gordon (UK) Limited
40 Gracechurch Street
London
EC3V 0BT
OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:
The Admission Document, which will contain full details about the applicant
and the
admission of its securities, will be available on the Company's website
(www.europeangreentransition.com).
THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
QCA Corporate Governance Code
DATE OF NOTIFICATION:
5 April 2024
NEW/ UPDATE:
Update
* a company wholly owned and controlled by Cathal Friel (a director of the
Company) and his spouse.
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:
N/A
(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
(i) 31 December
(ii) Unaudited interim financial information for the six months
to 30 June 2023
(iii) 30 June 2024 (audited results for the 12 months to 31
December 2023)
(iii) 30 September 2024 (unaudited results for the 6 months to 30
June 2024)
(iii) 30 June 2025 (audited results for the 12 months to 31
December 2024)
EXPECTED ADMISSION DATE:
8 April 2024
NAME AND ADDRESS OF NOMINATED ADVISER:
Panmure Gordon (UK) Limited
40 Gracechurch Street
London
EC3V 0BT
NAME AND ADDRESS OF BROKER:
Panmure Gordon (UK) Limited
40 Gracechurch Street
London
EC3V 0BT
OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:
The Admission Document, which will contain full details about the applicant
and the
admission of its securities, will be available on the Company's website
(www.europeangreentransition.com).
THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
QCA Corporate Governance Code
DATE OF NOTIFICATION:
5 April 2024
NEW/ UPDATE:
Update
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