REG - Net Zero Infrastruct - Update on Transaction

Net Zero InfrastructureAnnouncement

01/04/2025 07:00

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RNS Number : 0205D  Net Zero Infrastructure PLC  01 April 2025

1 April 2025

 

NET ZERO INFRASTRUCTURE PLC

 

("NZI" or the "Company")

 

Update on Transaction

 

Further to the announcement on 18 January 2024, in which NZI announced that it
had signed a non-binding letter of intent ("LOI") with QuiaPEG Pharmaceuticals
Holding AD (publ) ("QuiaPEG" or the "Potential Target"), pursuant to which NZI
would, inter alia, have an option to purchase IP from the Potential Target at
the end of a 12 month period, the Company announces that the LOI has not been
extended beyond its initial 12 month period.

During the period of the LOI, NZI and QuiaPEG have engaged in extensive
discussions regarding a potential licence agreement and a purchase option for
NZI concerning the QuiaPEG's intellectual property assets. Although NZI has
shown interest in continuing the discussions and thereby extending the LOI,
QuiaPEG has decided not to extend the LOI. The Company does not exclude
entering into a new letter of intent with QuiaPEG, but it is now focused on
other opportunities.

The NZI Board is therefore now actively considering another potential
acquisition opportunity in a different sector of the market, which would
constitute a reverse takeover under the Financial Conduct Authority's Listing
Rules. Non-binding heads of terms are being negotiated. However, as there is
no guarantee that these will be signed and given that the Company has very
limited cash resources available, the NZI Board has requested that the
Company's shares remain suspended from trading on the London Stock Exchange
for the time being pending clarification of the potential acquisition, which
could result in the provision of capital, and therefore the Company's
financial position.

Further announcements will be made in due course, as appropriate.

Contact Details

 

 Net Zero Infrastructure plc                    +44 (0) 799 932 9382

 Mike Ellwood - Non-Executive Chairman
 Axis Capital Markets Limited (Company Broker)  +44 (0) 203 026 0320

 Richard Hutchison
 IFC Advisory (Financial PR)                    +44 (0) 203 934 6630

 Graham Herring

 Tim Metcalfe

 

 

 

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