REG - AIM Recycling Tech.Group - Schedule One Update - Recycling Tech Group PLC

Neste OyjAnnouncement

10/03/2022 11:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220310:nRSJ3434Ea&default-theme=true

RNS Number : 3434E  AIM  10 March 2022

 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:
 Recycling Technologies Group Limited (to be re-registered as Recycling
 Technologies Group PLC before admission)

 (together with its group companies, "Recycling Technologies")

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES) :

 Registered Address:

 Hill Barn Upper Pavenhill

 Purton

 Swindon

 Wiltshire

 SN5 4DQ

 Principal Trading Address

 Unit B2, Stirling Court, Stirling Road

 South Marston Industrial Estate

 Swindon SN3 4TQ

 United Kingdom

 COUNTRY OF INCORPORATION:
 England & Wales

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
 www.recyclingtechnologies.co.uk (http://www.recyclingtechnologies.co.uk)

 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:
 Recycling Technologies is a UK-based engineering, research and manufacturing
 company founded in 2011 by Adrian Griffiths. Through a decade of research,
 engineering and collaboration with academia, it has developed a proprietary,
 patented technology to recycle mixed plastic waste, the RT7000. The RT7000
 processes hard to recycle plastic waste into chemical feedstocks, such as oil,
 for making new plastics.

 Currently around 12% of global plastic waste is recycled. The RT7000 can
 process hard to recycle plastic waste that would otherwise be incinerated, put
 into landfill or leaked into the environment.

 The RT7000 is intended to be integrated into existing waste processing sites
 and the Company intends to primarily sell the machines to the waste management
 industry. Through selling its machine to the waste management industry,
 Recycling Technologies believes it has created a new, profitable addition for
 the waste manager whilst improving their environmental credentials.

 Recycling Technologies has a number of global partnerships including with
 Neste, the c.$30bn market capitalisation petrochemicals company (which is a
 c.11% shareholder (pre-fundraise) and has a nominated director on the Board),
 Unilever, Nestlé and TOTAL. It is also partnered with INEOS Styrolution to
 modify its proprietary technology into a polystyrene waste to styrene
 recycling process.

 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):
 Ordinary shares of 1 penny each ("Ordinary Shares"). No restrictions on the
 transferability of the securities expected other than customary contractual
 lock-ups following the IPO and pursuant to applicable securities laws.

 Placing price per Ordinary Share: TBC.

 No Ordinary Shares will be held in treasury on Admission.

 CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
 MARKET CAPITALISATION ON ADMISSION:
 Expected Fund Raise: TBC

 Expected Market Capitalisation at the placing price: TBC

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
 TBC

 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:
 None.

 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):
 Adrian Edward Griffiths - Founder & Chief Executive Officer (CEO)

 Stephen Peter Pascoe - Chief Financial Officer (CFO)

 Gary Bruce Bullard - Independent Chairman

 Nicola Marie Frayne - Independent Non-executive Director

 Paul Richard Turner - Independent Non-executive Director

 Simon John Dent - Non-executive Director

 Stephen Peter Hodges - Independent Non-executive Director

 Joonas Mikael Helenius - Non-executive Director

 Alice Sarah Louise Cummings - Independent Non-executive Director

 Laurence David Edgar Hollingworth - Independent 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):
 Significant shareholders post admission will be dependent on the size of the
 raise, valuation and participation in the fund raise. Significant shareholders
 on a fully diluted basis are expected to be as follows:

 Neste Oyj ((1) (4))                                 11.03  TBC
 SOF GP, S.á.r.l. ((2) (4))                          11.03  TBC
 Adrian Griffiths (and his connected persons) ((3))  9.42   TBC
 Future Fund Limited ((4))                           6.93   TBC
 Damian Tuite                                        6.28   TBC
 Alexander Anderson                                  3.90   TBC

(1)   Neste Oyj has a nominated director on the Board in Joonas Helenius

 (2)   Acting in its capacity as general partner of Althelia Sustainable
 Ocean Fund SICAV-SIF. Alter Domus Management Company is the management company
 and Mirova Natural Capital is the financial sub-advisor. The Sustainable Ocean
 Fund has a nominated director on the Board in Simon Dent

 (3)   Chief Executive Officer of Recycling Technologies

 (4)   This assumes (a) the conversion of convertible loan notes (and of the
 interest payable on such loan notes) issued to Neste, SOF and Future Fund,
 into Ordinary Shares pre-admission and (b) a certain warrantholder exercising
 warrants in respect of 133,333 Ordinary Shares pre-admission

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:
 Connexxions Media & Marketing Limited

 Ellason LLP

 Haines Watts Limited

 Hazelwood Accounting Services Limited

 Macfarlanes LLP

 Norton Rose Fulbright LLP

 Rubus Group
 (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)        31 December 2020 (and unaudited financial information for
 the six months ended 30 June 2021)

 (iii)       30 June 2022 (in respect of year end 31 December 2021), 30
 September 2022 (in respect of six months ended 30 June 2022) and 30 June 2023
 (in respect of year end 31 December 2022)

 EXPECTED ADMISSION DATE:
 Early April 2022

 NAME AND ADDRESS OF NOMINATED ADVISER:
 Stifel Nicolaus Europe Limited

 150 Cheapside

 London

 EC2V 6ET

 NAME AND ADDRESS OF BROKER:
 Stifel Nicolaus Europe Limited

 150 Cheapside

 London

 EC2V 6ET

 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:

 www.recyclingtechnologies.co.uk (http://www.recyclingtechnologies.co.uk)

 The admission document will contain full details about the applicant and the
 admission of its securities.

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
 QCA Corporate Governance Code

 DATE OF NOTIFICATION:
 10 March 2022

 NEW/ UPDATE:
 UPDATE

(1)   Neste Oyj has a nominated director on the Board in Joonas Helenius

(2)   Acting in its capacity as general partner of Althelia Sustainable
Ocean Fund SICAV-SIF. Alter Domus Management Company is the management company
and Mirova Natural Capital is the financial sub-advisor. The Sustainable Ocean
Fund has a nominated director on the Board in Simon Dent

(3)   Chief Executive Officer of Recycling Technologies

(4)   This assumes (a) the conversion of convertible loan notes (and of the
interest payable on such loan notes) issued to Neste, SOF and Future Fund,
into Ordinary Shares pre-admission and (b) a certain warrantholder exercising
warrants in respect of 133,333 Ordinary Shares pre-admission

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:

Connexxions Media & Marketing Limited

Ellason LLP

Haines Watts Limited

Hazelwood Accounting Services Limited

Macfarlanes LLP

Norton Rose Fulbright LLP

Rubus Group

(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)        31 December 2020 (and unaudited financial information for
the six months ended 30 June 2021)

(iii)       30 June 2022 (in respect of year end 31 December 2021), 30
September 2022 (in respect of six months ended 30 June 2022) and 30 June 2023
(in respect of year end 31 December 2022)

 

EXPECTED ADMISSION DATE:

Early April 2022

 

NAME AND ADDRESS OF NOMINATED ADVISER:

Stifel Nicolaus Europe Limited

150 Cheapside

London

EC2V 6ET

 

NAME AND ADDRESS OF BROKER:

Stifel Nicolaus Europe Limited

150 Cheapside

London

EC2V 6ET

 

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:

 

www.recyclingtechnologies.co.uk (http://www.recyclingtechnologies.co.uk)

 

The admission document will contain full details about the applicant and the
admission of its securities.

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code

 

DATE OF NOTIFICATION:

10 March 2022

 

NEW/ UPDATE:

UPDATE

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AIMEANDEFLPAEEA