REG - New Energy One Acqn. New Energy One-NEOW - Related Party Transaction

New Energy One AcquisitionAnnouncement

31/08/2023 17:00

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RNS Number : 0122L  New Energy One Acquisition Corp.  31 August 2023

New Energy One Acquisition Corporation plc

("NEOA," or the "Company")

 

Related Party Transaction

 

New Energy One Acquisition Plc announces that it has entered into a loan
agreement with Eni International B.V. ("Eni") on 30 August 2023 (the "Loan
Agreement") which is intended to provide working capital for NEOA.

 

Eni is a shareholder of NEOA and holds 1,750,000 Ordinary Shares and 1,068,750
Sponsor Shares, representing in aggregate approximately 45% of NEOA's issued
share capital.

 

Pursuant to the Loan Agreement, Eni has agreed to provide NEOA with an
unsecured loan of £3.6 million (the "Loan") for general corporate purposes.
NEOA intends to repay the Loan following completion of a business combination.
The Loan, together with all interest accrued thereon, is repayable in full on
or before the expiry date of 31 March 2024.

 

Jadran Trevisan, a director of NEOA, nominated by Eni, did not take part in
the NEOA board's consideration of the Loan or vote on the board resolution to
approve the Loan.

 

The Loan constitutes a material related party transaction for the purposes of
paragraph 7.3 of the Disclosure Guidance and Transparency Rules. NEOA's
directors (other than Jadran Trevisan) confirm that the Loan is fair and
reasonable from the perspective of NEOA and its shareholders (other than Eni).
 

 

For further information please contact:

 

NEOA

Sanjay
Mehta
    sanjay.mehta@energyone.je (mailto:sanjay.mehta@energyone.je)

 

FGS
Global
EnergyOne-LON@fgsglobal.com (mailto:EnergyOne-LON@fgsglobal.com)

 
+44 (0)20 7251 3801

 

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