REG-Net Zero Infrastructure Plc: Termination of Acquisition talks & trading resumption

Net Zero InfrastructureAnnouncement

18/11/2022 07:15

NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA,
CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH
AFRICA, OR ANY PROVINCE OR TERRITORY THEREOF OR TO OR FOR THE ACCOUNT OF ANY
NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES OR ANY PERSON RESIDENT IN
AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND OR THE REPUBLIC
OF SOUTH AFRICA. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE
PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME
HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU
EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.

EMBARGOED

 For release at 7.00 am on 18 November 2022

NET ZERO INFRASTRUCTURE PLC (“NZI” or the “Company”)

Termination of Acquisition talks and resumption of trading

NZI, a special purpose acquisition company formed with the intention to
acquire renewable or clean energy technology companies and to finance, develop
and promote those environmentally sound projects internationally, confirms
that it has today reluctantly withdrawn from talks to acquire Taylor
Construction Plant Limited and Solar Highways Limited (“TCP”) which was
announced on 19 May 2022.

Due to the current market conditions the Directors of NZI believe that they
will not be able to raise the funds required to complete this transaction. 
As a result, they have concluded that it is in the best interests of its
shareholders and the TCP to cease talks with TCP and request that its shares
resume trading.

The net assets of the Company, after costs for the aborted transaction are
£650,000.

The Directors of NZI still aim to effect a transaction in the renewable or
clean energy technology sector, in line with its existing acquisition strategy
in the new year.

Enquiries

Net Zero Infrastructure plc
Mike Ellwood Non-Executive Chairman                  +44 (0)
7999 329382

Ikonia Fintech Capital AG (Corporate Adviser)
David Scott Head of Corporate Finance                  +44 (0)
207 448 9820

Axis Capital Markets Limited (Company Broker)
Kamran Hussain Head of Corporate Broking         +44 (0) 203 026 0320

About Net Zero Infrastructure Plc Net Zero Infrastructure PLC was formed as a
special purpose acquisition company with the intention to acquire renewable or
clean energy technology companies and to finance, develop and promote those
environmentally sound projects internationally. The Company believes that due
to the global concerns regarding environmental damage and climate change as a
result of fossil-fuelled power generation, there exists considerable
commercial opportunities in the renewable and clean energy sector which will
play an increasingly significant role in meeting future energy needs while
reducing further environmental damage. Clean energy investment globally has
grown in real and relative terms. It is this opportunity which Net Zero
Infrastructure intends to participate in and augment as a fund-raising vehicle
for enterprises seeking access to international markets. The Directors of Net
Zero Infrastructure Plc accept responsibility for this announcement.

FORWARD-LOOKING STATEMENTS This announcement contains forward-looking
statements which reflect the Company's or, as appropriate, the Directors'
current views, interpretations, beliefs or expectations with respect to the
Company's financial performance, business strategy and plans and objectives of
management for future operations. These statements include forward-looking
statements both with respect to the Company and the sector and industry in
which the Company proposes to operate. Statements which include the words
"expects", "intends", "plans", "believes", "projects", "anticipates", "will",
"targets", "aims", "may", "would", "could", "continue", "estimate", "future",
"opportunity", "potential" or, in each case, their negatives, and similar
statements of a future or forward-looking nature identify forward-looking
statements. All forward-looking statements address matters that involve risks
and uncertainties because they relate to events that may or may not occur in
the future. Forward-looking statements are not guarantees of future
performance. Accordingly, there are or will be important factors that could
cause the Company's actual results, prospects and performance to differ
materially from those indicated in these statements. In addition, even if the
Company's actual results, prospects and performance are consistent with the
forwardlooking statements contained in this announcement, those results may
not be indicative of results in subsequent periods These forward-looking
statements speak only as of the date of this announcement. Subject to any
obligations under the Prospectus Rules, the Market Abuse Regulation, the
Listing Rules and the Disclosure and Transparency Rules and except as required
by the FCA, the London Stock Exchange, the City Code or applicable law and
regulations, the Company undertakes no obligation publicly to update or review
any forward-looking statement, whether as a result of new information, future
developments or otherwise. All subsequent written and oral forward-looking
statements attributable to the Company or individuals acting on behalf of the
Company are expressly qualified in their entirety by this paragraph. The
information contained in this announcement is for background purposes only and
does not purport to be full or complete. No reliance may be placed for any
purpose on the information contained in this announcement or its accuracy,
fairness or completeness. Alexander David Securities Limited and Axis Capital
Markets Limited, which are authorised and regulated by the Financial Conduct
Authority, are acting only for the Company in connection with the matters
described in this announcement and are not acting for or advising any other
person, or treating any other person as its client, in relation thereto and
will not be responsible for providing the regulatory protection afforded to
clients of Axis Capital or advice to any other person in relation to the
matters contained herein.



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