Business
Acquisition & Suspension of Listing – Update
Acquisition & Suspension of Listing – Update.
About this update from Georgina Energy Plc
[{"type":"text","content":"\n\nMining, Minerals & Metals plc\n26 October 2023\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nMining, Minerals & Metals Plc/Index: LSE/Epic: MMM/Sector: Natural Resources\nMining, Minerals & Metals plc\n(\"MMM\" or the \"Company\")\n \nProposed acquisition and Suspension of Listing - Update\n \nHeads of Terms with Georgina Energy plc\nThe Board has now entered into heads of terms with Georgina Energy plc (\"GEO\"). GEO is an early-stage resource company with a strategy of actively pursuing the exploration, commercial development and monetisation of helium, hydrogen and hydrocarbon interests located in the Amadeus and Officer Basins in Northern and Western Australia (\"Proposed Transaction\"). \nThe Proposed Transaction, if completed, would constitute a reverse takeover under the Listing Rules and accordingly the Company would need to apply for re-admission of its shares to the Official List and the Main Market of the London Stock Exchange.\nAs the Company is currently unable to provide a full disclosure under Listing Rule 5.6.15, the Company's listing in its ordinary shares on the standard segment of the Official List and trading from the London Stock Exchange (\"LSE\") will remain suspended pending the publication of a prospectus providing further details on GEO as enlarged by the Proposed Transaction.\nIn the event that the Proposed Transaction does not proceed the Company will seek the lifting of its suspension from the standard segment of the Official List and trading on the LSE.\nThe Proposed Transaction is conditional on a number of conditions including; i) satisfactory due diligence ii) entering into a definitive legal agreements iii) raising further funds for the Proposed Transaction; iv) approval by shareholders at a General Meeting to be convened; v) obtaining all necessary approvals (if required) and; vi) granting of eligibility for the readmission of the Company to the Official List by the FCA.\nThere can be no certainty that the Proposed Transac...