REG - Rockpool Acq Plc - Termination of Greenview Acquisition

Rockpool AcquisitionsAnnouncement

01/04/2022 13:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220401:nRSA9985Ga&default-theme=true

RNS Number : 9985G  Rockpool Acquisitions PLC  01 April 2022

 Press release  1 April 2022

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014.  Upon the publication of this announcement via the
Regulatory Information Service, this inside information is now considered to
be in the public domain.

 

Rockpool Acquisitions Plc

("Rockpool" or "the Company")

Termination of Greenview Gas Limited Option Agreement

 

Further to the announcement dated 11 January 2022, in which the Company
announced that it had decided not to proceed with the acquisition of Greenview
Gas Limited ("Greenview"), an alternative party has been found who is willing
to step into Rockpool's shoes to acquire Greenview and/or refinance the debt
which the Company is owed by Greenview.  The Board is pleased to announce
that it has now terminated the option agreement pursuant to which its
acquisition of Greenview would have been made (the "Termination").

 

The Company has received the sum of £1,200,000 from Greenview as a result of
the arrangements in connection with the Termination.  This sum settles all of
Greenview's liabilities to the Company, and represents a small premium on the
amount of the loan provided by the Company to Greenview and the accrued
interest thereon.  This sum will enable the Company to settle all its current
obligations, and is anticipated to be enough to cover the transaction costs of
making, in due course, an alternative acquisition (on the assumption that the
consideration for such an alternative acquisition would consist wholly of new
shares in the Company) and of the Company's subsequent readmission to the
market, and leave it with funds for working capital.

 

As the proposed reverse takeover of Greenview by the Company will no longer
proceed, it is the Board's intention to apply to the FCA for the current
suspension of the Company's shares to be lifted as soon as possible.  If that
application is successful, then trading in the ordinary shares would
recommence and continue until the Company announces that it is pursuing a
particular alternative reverse takeover transaction.

 

 

Ends -

 

For further information please contact:

 

 Rockpool Acquisitions Plc
 Mike Irvine, Non-Executive Director  mike@cordovancapital.com

                                      www.rockpoolacquisitions.plc.uk (http://www.rockpoolacquisitions.plc.uk/)

 

 Shard Capital (Broker)
 Damon Heath / Erik Woolgar  Tel: +44 (0)20 7186 9952

 

 Abchurch (Financial PR)
 Julian Bosdet            Tel: +44 (0)20 4594 4070

                          julian.bosdet@abchurch-group.com

 

-  Ends -

 

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  ACQBKDBNBBKDAQK