Business
Interim Results
Interim Results.
About this update from Earnz Plc
[{"type":"text","content":"\n\nEARNZ PLC\n \n(\"EARNZ\", the \"Company\" or the \"Group\")\n \nInterim Results\n \nEARNZ plc, (AIM:EARN) an AIM Rule 15 cash shell which is seeking acquisitions in the energy services sector, is pleased to announce its unaudited interim results for the six months to 30 June 2024.\n \nThis announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \nEnquiries:\n \n\n\n\n\nEARNZ plc \nBob Holt\nJohn Charlton\nElizabeth Lake\n\n\n\n\n\nTel: +44 (0) 7778 798 816\n\n\n\n\n\nShore Capital & Corporate Limited (NOMAD & Joint Broker)\n\n\n\n\n\nTel: +44 (0) 20 7408 4090\n\n\n\n\nTom Griffiths / Tom Knibbs / Lucy Bowden\n \n\n\n\n\n\n\n\n\n\n\nZeus Limited (Joint Broker)\nHugh Morgan / Antonio Bossi / Andrew de Andrade\n\n\n\n\n\nTel: +44 (0)20 7220 1666\n \n \n\n\n\n\n\n\n\nExecutive Chair's Statement\n \nOn 28 February 2024, at a general meeting, the disposal of the legacy Solar Business, Verditek Italy srl, and all related business assets of Verditek plc (the \"Solar Business\") was approved, in return for satisfaction of the outstanding bonds and accrued interest. The Solar Business was disposed of on 29 February 2024. This disposal was necessary in order to satisfy outstanding creditor obligations of the Company, and to avoid putting the Company into administration.\n \nFrom 1 March, the Company has been regarded as an AIM Rule 15 cash shell, having ceased to own, control or conduct all, or substantially all, of its existing trading business, activities or assets. Under the AIM Rules for Companies (\"AIM Rules\"), the Company needs to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 (\"Reverse Takeover\") within 6 months (by 31 August 2024) of becoming an AIM Rule 15 cash shell. Following the disposal of the Solar Business, the existing Board of Directors of the Company all resigned with immediate effect, and a new Board of Direct...