Lift Global Ventures - Update on Investee Company
23/12/2024 07:00
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RNS Number : 0226R Lift Global Ventures PLC 23 December 2024
23 December 2024
Lift Global Ventures Plc
("Lift" or the "Company")
Update on Investee Company
Lift Global Ventures Plc (AQSE:LFT), an investment company focused on
financial media, technology and the energy sector, notes that its investment
portfolio company, Trans-Africa Energy Limited ("TAE") who is focused on
developing energy infrastructure projects located primarily in Sub-Saharan
Africa, the first of which is in Ghana is in discussions with a Southern
African state investor in relation to an investment into TAE.
As such the New Redemption Date of 31 December 2024 has been extended to 31
January 2025.
Capitalised terms shall have the same meaning as the RNS dated 25 October
2024, unless otherwise defined.
Related Party Transaction
Roy Kelly, Non-Executive Chairman of the Company, is also a non-executive
director of TAE in which the Company has the investment. Mr Kelly has been
advising TAE since March 2021 and was appointed as a director of TAE in
September 2022. Mr Kelly has no shares or equity in TAE. Zak Mir and Sandy
Barblett (as the Independent Directors) of the Company have considered and
agreed to the proposal to extend the New Redemption Date. The Independent
Directors have therefore decided to treat the extension of the New Redemption
Date as a related party transaction under the AQSE Growth Market Rules.
The Independent Directors believe that the New Redemption Date is in the best
interests of the Company and that, having exercised reasonable care, skill and
diligence, confirm that the related party transaction is fair and reasonable
as far as the shareholders of the Company are concerned.
The directors of the Company accept responsibility for the contents of this
announcement.
The information communicated in this announcement is inside information for
the purposes of Article 7 of Regulation 596/2014.
Enquiries:
Lift Global Ventures Plc
Zak Mir, CEO +44 (0) 7867 527 659
Oberon Capital (AQSE Corporate Adviser and Broker)
Nick Lovering, Adam Pollock, Mike Seabrook +44 (0) 203 179 5300
For more information please visit: www.liftgv.com (http://www.liftgv.com/)
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