Business
Update on Acquisition
Update on Acquisition.
About this update from Acg Metals Limited Class A
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \nTHIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS PART OF THE UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED\n \n10 August 2023\n \nACG Acquisition Company Limited (\"ACG\" or the \"Company\")\nFurther Update on Acquisition\n \nFurther to its announcement on 18 July 2023, ACG announces today that it continues to discuss potential improvements to the transaction structure with its Anchor Investors and Appian Capital. However, ACG has not, despite its best efforts, reached agreement with the respective parties at this time. If no agreement is reached, the Acquisition will not complete. The long‑stop date is 18 August 2023, after which either of ACG or Appian Capital may terminate the Acquisition Agreement (unless the long-stop date is extended by mutual agreement). A further announcement will be made as and when appropriate.\n \nAs a result of the above:\n \n· the book-building conducted in connection with the Placing remains paused;\n· ACG has determined to cancel the Retail Offer, and any funds previously paid will be returned to retail investors through PrimaryBid in accordance with the corresponding provisions of the Prospectus;\n· the Acquisition EGM convened for the purpose of considering the Acquisition has not been rescheduled, and any proxy or direction previously provided by ACG Shareholders to the Company will be disregarded; and\n· any redemption elections made to date by ACG Shareholders in respect of their Class A Ordinary Shares will be considered void.\n \nCapitalised terms used in this announcement have the meaning set forth in the prospectus relating to the Acquisition approved by the U.K. Financial Conduct Authority and published by ACG on 30 June 2023.\n \n \n- ENDS -\n \nThe person responsible for the release of this information on behalf of the Company is Artem Volynets...