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On 01 July 2022, Alteration Earth PLC's ordinary shares of £0.003 each were admitted to the Standard Segment of the Official List and began trading on the Main Market of the London Stock Exchange under the ticker ALTE. The Company completed a funding round raising gross proceeds of £1,260,000 before expenses and has 18,000,000 Ordinary Shares in issue. Alteration Earth PLC also engaged Gneiss Energy Limited as its corporate finance adviser.
| Date | 1 Jul 2022 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 8940Q |
Alteration Earth PLC
("Alteration Earth" or "ALTE" or the "Company")
Admission to the Official List and first day of dealings
Alteration Earth PLC, a UK company established as a special purpose acquisition company to seek and acquire businesses in the clean technology and/or clean energy sector, is pleased to announce that its ordinary shares of £0.003 each (the "Ordinary Shares") have been admitted to the Standard Segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission"). The Company completed a successful seed and subscription funding round raising gross proceeds of £1,260,000 before expenses (the "Subscription"). On Admission, the Subscription became unconditional in all respects.
First dealings in the Ordinary Shares are due to commence at 8:00 a.m. today under the ticker symbol ALTE.
On Admission, the Company will have 18,000,000 Ordinary Shares in issue.
Company highlights:
ALTE has been formed as a special purpose acquisition company with the intention of acquiring a company, business, project, or asset(s) within the clean technology and/or clean energy sectors (an "Acquisition") that can commercialise its services and/or products in the global transition to a more sustainable utilisation of the Earth's resources and energy.
The Company has engaged the services of Gneiss Energy Limited ("Gneiss Energy") to act as its corporate finance adviser. The services to be provided to the Company by Gneiss Energy include, but may not be limited to, the provision of screening and execution support in relation to one or more potential Acquisition targets.
The Company believes that clean energy and clean technology will be of paramount importance to countries seeking to reduce their environmental impact whilst also trying to achieve energy security. The International Energy Agency (https://www.iea.org/about) recognises this and has published a report in June 2022 that states:
"Global energy investment is set to increase by 8% in 2022 to reach USD 2.4 trillion, with the anticipated rise coming mainly in clean energy. Although encouraging, the growth investment is still far from enough to tackle the multiple dimensions of today's energy crisis and pave the way towards a cleaner and more secure energy future."
The Company believes that the global consciousness and desire, and in certain cases the requirement to meet minimum obligations, to invest in clean energy and technology will present many opportunities for existing and new market entrants. The Company intends to capitalise on this by completing an Acquisition which has the potential to offer solutions to both national and international markets.
A copy of the Company's prospectus is available on the Company's website at https://altearthplc.com/.
FOR FURTHER INFORMATION, PLEASE CONTACT
Alteration Earth PLC
Matthew Beardmore
Director
T: +44 (0) 204 501 8549
Email: [email protected]