Sch One Update - European Green Transition plc | RNS | Ticker

Sch One Update - European Green Transition plc

RNS Announcement

RNS Number : 7837I

AIM

28 March 2024

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

European Green Transition plc

("European Green Transition", "EGT" or the "Company")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

The Walbrook Building

25 Walbrook

London

United Kingdom

EC4N 8AF

COUNTRY OF INCORPORATION:

United Kingdom

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.europeangreentransition.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

European Green Transition is a UK company developing a portfolio of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition. The Company intends to implement a disciplined M&A focused model and has already acquired an exciting portfolio of assets, notably their principal Olserum Rare Earth Element (REE) project in Sweden. The Company intends to utilise its experienced team and board to acquire further green economy assets in Europe, with a particular focus on distressed and/or undervalued assets, which includes critical materials projects, solar projects, wind projects, rehabilitation projects and processing projects.

EGT has developed a pipeline of opportunities and is led by an experienced leadership team with a track record of building public companies. EGT's vision is to build a sustainable and profitable business by successfully executing on its strategy to develop a portfolio of green economy assets in Europe. The Company's existing portfolio of green economy assets is anticipated to benefit from the EU Critical Raw Materials Act (CRMA) which outlines key objectives and policies to create transformational change to deliver on Europe's green economy ambitions.

The Olserum project is one of Sweden's projects of "National Interest" as designated by the Swedish Geological Survey and the directors believe it has the potential to become Europe's first operating rare earths mine. EGT will look to capitalise upon the significant forecast shortage of REEs by monetising the asset through sale or partnership with financial institutions and/or industry players. EGT does not intend to develop a mine but is confident in its ability to find third parties to acquire or partner on the project.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

144,495,892 Ordinary Shares of £0.0025 each.

Issue price per Ordinary Share - 10 pence.

There are no shares to be held as treasury shares and there are no restrictions as to

transfer of the securities.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission: c.£6.4 million.

Anticipated market capitalisation on Admission: c.£14.4 million.

Note: The Company intends to launch a retail offering through the Bookbuild platform following publication of its Admission Document and prior to Admission. Consequently, the figures in this announcement may change and a subsequent Schedule One announcement will be made following completion of the retail offering.

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

c.59.3%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

N/A

THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Sven Anders Daniel Akselson - Non-Executive Chair

Aiden Joseph Lavelle - Chief Executive Officer

Jack Daniel Kelly - Chief Financial Officer

Cathal Martin Friel - Non-Executive Director

James Gerald Leahy - Non-Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Shareholder	% issued share capital prior to Admission	% issued share capital upon to Admission
Raglan Road Capital Limited*	30.1%	11.7%
Cathal Friel	13.7%	7.4%
McNolan Venture Ltd	11.6%	5.1%
Jacqueline Hall	8.3%	3.2%
Jeremy Martin	8.3%	3.2%
Ian O'Connell	7.0%	2.8%
Aiden Lavelle	6.2%	2.4%
Paul Foord	3.2%	1.2%
Jack Kelly	3.2%	1.2%

* a company wholly owned and controlled by Cathal Friel (a director of the Company) and his spouse.

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 December

(ii) Unaudited interim financial information for the six months to 30 June 2023

(iii) 30 June 2024 (audited results for the 12 months to 31 December 2023)

(iii) 30 September 2024 (unaudited results for the 6 months to 30 June 2024)

(iii) 30 June 2025 (audited results for the 12 months to 31 December 2024)

EXPECTED ADMISSION DATE:

8 April 2024

NAME AND ADDRESS OF NOMINATED ADVISER:

Panmure Gordon (UK) Limited

40 Gracechurch Street

London

EC3V 0BT

NAME AND ADDRESS OF BROKER:

Panmure Gordon (UK) Limited

40 Gracechurch Street

London

EC3V 0BT

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

The Admission Document, which will contain full details about the applicant and the

admission of its securities, will be available on the Company's website

(www.europeangreentransition.com) from the date of the Company's admission.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code

DATE OF NOTIFICATION:

28 March 2024

NEW/ UPDATE:

Update

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END

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RNS metadata

Title: Sch One Update - European Green Transition plc
Time: 16:00:01
Date: 28 Mar 2024
Category: Corporate updates
ID: 7837I