REG - Tech. New Energy - Amendment to Warrant Terms

Technologies New EnergyAnnouncement

05/06/2025 18:30

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RNS Number : 6992L  Technologies New Energy PLC  05 June 2025

05 June 2025

Technologies New Energy plc

Amendment to Warrant Terms

Technologies New Energy plc (LSE: TNE), the energy transition company focused
on developing clean energy projects to drive industrial decarbonisation for
clients with international business operations, announces that that it has
entered into a deed of amendment, dated 4 June 2025, in respect of the warrant
instrument (cast as a deed) originally executed on 2 March 2022 (the
"Instrument").

Pursuant to written consent received from all affected warrant holders, the
Company has agreed to the following amendments:

 

Extension of Exercise Period

 

The original two exercise periods of the Instrument have each been extended by
12 months. As amended, the warrants are now exercisable as follows:

 

·    7,941,952 warrants are exercisable from 30 April 2025 (being the date
of closing of the acquisition by the Company of Technologies New Energy S.A.
(the "Acquisition")) until 30 April 2027 (i.e., a period of 24 months
thereafter); and

 

·    7,941,952 warrants are exercisable from 30 May 2026 (being 13 months
after the date of closing of the Acquisition) until 30 April 2028 (i.e., a
period of 36 months thereafter).

Amendment to Exercise Price

 

The exercise price of the warrants has been amended from £0.20 per share to
£0.10 per share, aligning with the nominal value of the Company's ordinary
shares.

These amendments are jointly intended to enhance the commercial viability of
the warrants and the potential capital inflow to the Company.

The board of directors of the Company believes that the amendments to the
Instrument represent a proactive and value-accretive step. By improving the
likelihood of warrant exercise, these amendments are expected to generate
timely capital inflow, which can be deployed to accelerate the development of
the Company's biorefinery project pipeline and strengthen its overall working
capital position.

José Meneses, Executive Chair and CEO, commented:

 

"I would like to thank all our warrant holders for their unanimous support of
the proposed changes and for their continued backing of Technologies New
Energy plc. This outcome reflects the confidence our stakeholders place in the
Company's long-term strategy and growth potential.

 

We remain focused on the development of our innovative and commercially viable
biorefinery portfolio, and I look forward to providing further updates on our
progress in due course."

 

- Ends -

Enquiries:

 Technologies New Energy plc                    info@tneplc.com
 José Meneses                                   +351 915 126 782
 Burson Buchanan                                +44 (0)20 7466 5000

 Chris Lane, Simon Compton, Abigail Gilchrist   TNE@buchanancomms.co.uk

 

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