Business
Potential Acquisition Update & Directorate Change
Potential Acquisition Update & Directorate Change.
About this update from Neo Energy Metals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7455U\n Stranger Holdings PLC\n 08 April 2021\n \n \n \n \n 8 April 2021\n \n Stranger Holdings Plc (\"Stranger\" or the \"Company\")\n \n Potential Acquisition Update & Directorate Change\n \n \n \n \n \n Stranger Holdings PLC, the London listed investment company, is pleased to announce that it has signed non-binding Heads of Terms to acquire Technology Minerals Ltd (\"Technology Minerals\"), which aims to create a consolidated battery metals and battery metal recycling group (\"the Acquisition\"). \n \n \n \n \n The Acquisition is subject, inter alia, to the completion of due diligence, documentation, and compliance with all regulatory requirements, including the Listing and Prospectus Rules and as required, the Takeover Code. The Acquisition, if it proceeds, will constitute a Reverse Takeover (\"RTO\") under the Listing Rules since, inter alia, in substance it will result in a fundamental change in the business of the issuer.\n \n \n \n \n Technology Minerals is a holding company focused on becoming the UK's first listed company to create a circular economy for battery metals within a single group. The Board believes that this represents an attractive opportunity as circular economies hold the key to a viable future for the fast-growing electric vehicle sector.\n \n \n \n \n \n Technology Minerals is currently advancing several acquisitions, principally focused on extracting the raw materials required for Li-ion battery cathodes and thereby helping to solve the ecological issue of spent Li-ion batteries by recycling them for reuse by battery manufacturers; these will be completed at the time of the Acquisition.\n \n \n \n \n \n These potential acquisitions include a major recycling group, the Recyclus Group (\"Recyclus\"), with whom Stranger has previously held talks regarding an RTO. In addition, Technology Minerals has already, or is in the process of, negotiating the acquisition of lithium, cobalt and nickel assets based in the USA, Ireland, Spain, and Cameroon. \n \n \n \n \n \n To support the RTO, Technology Minerals has appointed a team of advisors including PKF Littlejohn as reporting accountants, and Pello Capital as stockbrokers.\n \n \n \n \n \n Board Appointment\n \n \n To help expediate the RTO process, Stra...