REG - AIM - Sch One Update - European Green Transition plc

Kingdom HoldingsAnnouncement

28/03/2024 17:15

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RNS Number : 7837I  AIM  28 March 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):

  144,495,892 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.£6.4 million.

 Anticipated market capitalisation on Admission: c.£14.4 million.

 Note: The Company intends to launch a retail offering through the Bookbuild
 platform following publication of its Admission Document and prior to
 Admission. Consequently, the figures in this announcement may change and a
 subsequent Schedule One announcement will be made following completion of the
 retail offering.

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

 c.59.3%

 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%                                      11.7%
 Cathal Friel                  13.7%                                      7.4%
 McNolan Venture Ltd           11.6%                                      5.1%
 Jacqueline Hall               8.3%                                       3.2%
 Jeremy Martin                 8.3%                                       3.2%
 Ian O'Connell                 7.0%                                       2.8%
 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) from the date of the Company's admission.

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

 QCA Corporate Governance Code

 DATE OF NOTIFICATION:

 28 March 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) from the date of the Company's admission.

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

 

QCA Corporate Governance Code

 

DATE OF NOTIFICATION:

 

28 March 2024

NEW/ UPDATE:

 

Update

 

 

 

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