Business
Stage 2 of Hydrogen Valley Acquistion
Stage 2 of Hydrogen Valley Acquistion.
About this update from 80 Mile Plc
[{"type":"text","content":"\n\n \n\n\n\n\n\n\n\n\n\nAIM: 80M\nFSE: S5A\n\n\n\n\n\n \n\n\n\n\n16 January 2025\n80 Mile PLC / Ticker: 80M / Market: AIM / Sector: Mining\nStage 2 of Hydrogen Valley Acquistion\n80 Mile plc ('80 Mile' or the 'Company'), the AIM and FSE listed exploration and development company with projects in Greenland and Finland, is pleased to announce that following the announcement dated 19 December 2024 regarding the acquisition of up to a 49% interest in Hydrogen Valley Ltd ('HV '), it has completed Stage 2, moving to a 24% interest in HV.\nAs a result of the passing of all resolutions at the Company's General Meeting held on 13 January 2025, 80 Mile has now paid HV the cash consideration of £800,000, and issued 423,957,023 New Ordinary Shares in 80 Mile (equal to 14.5% of the Issued Ordinary Share Capital of the Company), thereby completing Stage 2.\n \nAdmission and Total Voting Rights\nApplication has been made for the Ordinary Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission of the Ordinary Shares will become effective and that dealings will commence at 8.00 a.m. on or around 17 January 2025.\nFollowing admission of the Ordinary Shares, the Company's issued share capital will comprise 3,924,323,275 Ordinary Shares of 0.001p each with voting rights in the Company. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\n \n \nMarket Abuse Regulation (MAR) Disclosure\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.\nFor further information please visit http://www.80mile.com or contact:\n\n\n\n\nEric Sondergaard\n\n\n80 Mile plc\n\n\[email protected]\n\n\n\n\nEwan Leggat / Adam Cowl\n\n\nSP Angel Corporate Finance LLP\n(Nominated Adviser and Broker)\n\n\n+44 (0) 20 3470 0470\n\n\n\n\nMegan Ray / Said Izagaren\n\n\nBlytheRay\n(Media Contact)\n\n\n+44 (0) 20 7138 3205\n\n\n\n\n \nAbout 80 Mile Plc:\n80&...