REG - New Energy One Acqn. New Energy One-NEOW - Completion of Share Capital Reduction

New Energy One AcquisitionAnnouncement

06/04/2022 07:00

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RNS Number : 3979H  New Energy One Acquisition Corp.  06 April 2022

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6 April 2022

New Energy One Acquisition Corporation Plc

("NEOA" or the "Company")

Completion of Share Capital Reduction

Following the disclosure in the prospectus published by the Company on 9 March
2022 (the "Prospectus") and pursuant to a shareholder resolution of the
Company passed on 7 March 2022, the Company is now pleased to announce that on
5 April 2022 the High Court of England and Wales sanctioned the cancellation
of the amount standing to the credit of the Company's share premium account
immediately following Admission (the "Share Capital Reduction").

The purpose of the Share Capital Reduction is to create distributable reserves
to enable the redemption of Ordinary Shares as described in the Prospectus and
in accordance with the Company's Articles of Association, thereby enabling the
Company to meet the condition of Listing Rule 5.6.18AG(7). As described in the
Prospectus, the Company's compliance with Listing Rule 5.6.18AG(7) was subject
to Court approval of the Share Capital Reduction. As a result of Court
approval of the Share Capital Reduction, and subject to the Company continuing
to meet the conditions set out in LR 5.6.18AG and the Company providing a
written Board a confirmation to the FCA at the time of any announcement or
leak of a proposed Business Combination as set out in LR 5.6.18CR, the Company
expects that the Ordinary Shares and the Public Warrants would not be
suspended from listing and trading at the time of announcement or leak of a
proposed Business Combination. Any remaining distributable reserves not used
for the redemption of Ordinary Shares will be available for general corporate
purposes.

The Court order confirming the Share Capital Reduction, and a statement of
capital approved by the Court in connection therewith, will be sent to the
Registrar of Companies shortly and accordingly the Share Capital Reduction
will become effective upon the registration of the Court order and associated
statement of capital by the Registrar of Companies.

The Share Capital Reduction will not result in a change in the number of
Ordinary Shares or Sponsor Shares in issue or their nominal value of £0.001
each. The total number of voting rights in the Company will remain at
21,875,000 immediately following the Share Capital Reduction and this figure
may continue to be used by Shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to, their interest in the Ordinary Shares under the
Disclosure Guidance and Transparency Rules.

Defined terms in this announcement shall have the meaning ascribed to them in
the Prospectus unless otherwise specified.

The Prospectus is available on the Company's website at https://neoa.london
(https://neoa.london) , subject to certain access restrictions.

Enquiries:

Finsbury Glover Hering - Communications Advisor

Adrian Rimmer, Partner                          +44
(0) 207 251 3801

Alice Neave, Associate Director
+44 (0) 7827 820 629

 

About New Energy One Acquisition Corporation Plc

 

NEOA has been formed for the purpose of effecting a business combination with
targets that are positioned to participate in or benefit from the global
transition towards a low carbon economy, what is called the "Energy
Transition", which are headquartered in, or which have or are expected to have
a substantial nexus to, Europe.

NEOA is sponsored by LiveStream LLC ("LiveStream") and Eni International B.V.
("Eni"), a wholly owned subsidiary of Eni S.p.A (each of Livestream and Eni
being a "Sponsor Entity" and together, the "Sponsor Entities"). LiveStream is
an investment company formed by one of NEOA's executive directors, Sanjay
Mehta.

NEOA has a highly experienced executive team (the "Executive Team") who
collectively have more than 20 years of proprietary fund management and
principal investment experience, and more than 60 years of extensive capital
markets, corporate finance and operational experience in the energy industry.
NEOA's executive team is supported by a strong group of independent board and
strategic advisors with broad market expertise and deep industry contacts,
including with companies that are at the heart of the Energy Transition.

 

 

 

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