Admission to Trading on AIM

About this update from European Green Transition Plc

8 April 2024 European Green Transition plc ("European Green Transition", "EGT" or "the Company") Admission to Trading on AIM, First Day of Dealings and Notice of Investor Presentation   European Green Transition, a company developing green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition, is pleased to announce the admission of its entire issued ordinary share capital to trading on AIM ("AIM"), a market of the London Stock Exchange plc ("Admission").   The commencement of trading of the Company's ordinary shares of £0.0025 each in the capital of the Company (the "Ordinary Shares") will become effective at 8:00a.m. under the ticker "EGT". On Admission, the Company will have a market capitalisation (at the Placing Price) of approximately £14.5 million and have 144,620,892 Ordinary Shares in issue.   Admission follows a Placing, Subscription and Retail Offer for a total of 64,620,890 new Ordinary Shares at a price of 10 pence per Ordinary Share (the "Placing Price"), raising gross proceeds of £6.46 million. Defined terms in this announcement have the same meaning as those in the Admission Document published by the Company on 28 March 2024. Aiden Lavelle, Chief Executive Officer of European Green Transition, said: "Today's listing and fundraise is a crucial milestone for EGT. The funds raised will contribute to our existing green economy projects which are intended to support the energy transition across Europe, notably the Olserum Rare Earth project in Sweden. Additionally, the fundraise will strengthen the Company's position to acquire what we believe are distressed and undervalued green economy assets in Europe. "I would like to thank our new and existing shareholders for their support and commitment to investing in the future of EGT. We are confident the Company can capitalise on the significant opportunities created by the green energy transition in Europe to develop a profitable and sustainable business and I look forward to updating the market on future progress." Cathal Friel, Co-Founder & Non-Executive Director of European Green Transition, said: " The listing of European Green Transition on the London Stock Exchange is an excellent milestone and following strong support from both institutional and family office investors we successfully raised a total of £6.46 million. "The EGT team and Board have a strong track record of scaling M&A focused companies on AIM, notably Cove Energy plc, Amryt Pharma plc and hVIVO plc, and we are confident we can replicate this tried and tested approach. I am particularly excited by the significant opportunity that EGT aims to capitalise on in Europe as we move from the dependence on fossil fuels towards a green, renewables-focused economy, and I have personally invested a further £300,000 in the IPO alongside the incoming investors on top of my significant investment in EGT to date."   Notice of Investor Presentation   The Company Directors will be holding a remote presentation for investors, followed by an opportunity to ask questions. The presentation will take place at 6:00pm BST on 8 th April 2024 .   Please register for the webinar via the following link: https://stream.brrmedia.co.uk/broadcast/660d17367b6f45767a005050       EGT Company Overview   Developing Green Economy Assets through a Disciplined M&A Focused Model · EGT's business model is to develop green economy assets in Europe, capitalising on Europe's green energy transition. The Company intends to implement a disciplined M&A focused model and has already acquired a portfolio of assets, notably their principal Olserum Rare Earth Element (REE) project. · The Company intends to utilise its experienced team and Board to acquire further green economy assets in Europe, with a particular focus on what the Directors believe are distressed and/or undervalued assets, which includes critical materials projects, solar projects, wind projects, rehabilitation projects and processing projects. · EGT has already identified a pipeline of additional green economy assets, some of which the Directors believe could be acquired for a fraction of the capital that has previously been invested in them. · Through capital-efficient investment and operational expertise, EGT intends to advance its projects to build a sustainable, profitable business with the optionality to sell or partner certain assets with large financial investors or industry players.   Experienced Leadership Team with Strong Track Record  · EGT is managed by a highly qualified, experienced team with extensive small cap public company experience including Cathal Friel (co-founder, largest shareholder and Non-Executive Director), Aiden Lavelle (CEO and Chartered Geologist with 16 years' industry experience) and Jack Kelly (CFO and Chartered Accountant with extensive experience in M&A). · The EGT team and Board have a strong track record of establishing and scaling M&A focused companies in the public market, including: · Cove Energy plc: IPO completed in 2009, acquired distressed asset from the Artumas Group, completed a trade sale in 2012 for US$1.9 billion. · Amryt Pharma plc: IPO completed in 2016, acquired distressed and/or undervalued assets (Birken AG, Aegerion Pharmaceuticals Inc and Chiasma Inc), completed a trade sale in 2023 for US$1.48 billion. · hVIVO plc (formerly named Open Orphan plc): IPO completed in 2019, acquired distressed assets Venn Life Sciences plc (c. £4 million) and hVIVO plc (c. £13 million), current market cap c. £202 million*.   Existing Assets in Europe  · The Company's principal asset is the Olserum REE project in Sweden, which EGT aims to progress towards obtaining a 25-year exploitation permit. · REEs are a set of 17 metallic elements which are crucial components to the green transition used in a range of high-tech devices including electric vehicles and wind turbines. · The Olserum project is one of Sweden's projects of "National Interest" as designated by the Swedish Geological Survey and the directors believe it has the potential to become Europe's first operating rare earths mine. · EGT will look to capitalise upon the significant forecast shortage of REEs by monetising the asset through sale or partnership with financial institutions and/or industry players. Therefore, crucially, EGT does not intend to develop a mine but is confident in its ability to find third parties to acquire or partner on the project. · In addition, the Company owns copper and graphite assets in northern Sweden and critical mineral projects in Saxony, Germany, all of which have defined potential and tangible upside.   Strong Market Tailwinds and Focus on Environmental, Social & Governance Considerations · EGT expects to benefit from the European Critical Raw Materials Act (CRMA), which has been established to address critical supply shortages in Europe. The CRMA sets clear objectives around extraction, refining and processing, recycling and external sourcing of critical minerals for the EU. · The global market for REEs is forecast to more than double to $21 billion in the next 10 years. REEs are crucial components in the production of permanent magnets found in wind turbines, with each standard 3 MW direct drive wind turbine containing 2 tonnes of REEs. · Maintaining high ESG standards is at the forefront of all of EGT's activities and the Company intends to maintain its environmental and social practices across all projects, engaging with local communities and stakeholders throughout. *Market capitalisation as at 05/04/2024   Enquiries   European Green Transition Aiden Lavelle, CEO +44 (0) 208 058 6129 Jack Kelly, CFO   Panmure Gordon - Nominated Adviser, Sole Bookrunner and Broker James Sinclair-Ford / Dougie McLeod / Ivo Macdonald   Mark Murphy / Hugh Rich / Rauf Munir   + 44 (0) 20 7886 2500   Camarco - Financial PR Billy Clegg, Elfie Kent, Lily Pettifar [email protected] + 44 (0) 20 3757 4980     The Company notes the following updates to tables published in its Admission Document dated 28 March 2024.    INTERESTS OF DIRECTORS AND SIGNIFICANT SHAREHOLDERS As at the Date of this Announcement On Admission Existing Director Ordinary Shares Percentage of Existing Share Capital Ordinary Shares Percentage of Enlarged Share Capital Cathal Friel 1 24,658,318 43.8% 27,658,318 19.1% Aiden Lavelle 2 3,903,697 6.9% 3,903,697 2.7% Jack Kelly 1,784,547 3.2% 1,784,547 1.2% Sven Anders Daniel Akselson 3 0 0.0% 450,000 0.3% James Leahy 0 0.0% 0 0.0% Total 30,346,562 53.9% 33,796,562 23.4%   1. Including 16,953,200 Ordinary Shares held by Raglan Road Capital Limited, a company owned by Mr Friel and his spouse. 2. Including 425,858 Ordinary Shares held by his spouse. 3. Including, from Admission, 450,000 Ordinary Shares held by Mitaks Investment & Management AB, a company owned by Mr Akselson and his spouse.   As at the Date of this Announcement On Admission Shareholder Ordinary Shares Percentage of Existing Share Capital Ordinary Shares Percentage of Enlarged Share Capital Raglan Road Capital Limited 4 16,953,200 30.1% 19,953,200 13.8% Cathal Friel 7,705,118 13.7% 7,705,118 5.3% McNolan Venture Limited 5 6,526,704 11.6% 7,426,704 5.1% Jacqueline Hall 4,684,437 8.3% 4,684,437 3.2% Jeremy Martin 4,684,437 8.3% 4,684,437 3.2% Explora Minerals AB 0 0.0% 4,500,000 3.1% Ian O'Connell 3,968,499 7.0% 3,968,499 2.7% Aiden Lavelle 6 3,903,697 6.9% 3,903,697 2.7% Jack Kelly 1,784,547 3.2% 1,784,547 1.2% Paul Foord 1,784,547 3.2% 1,784,547 1.2%     4. Raglan Road Capital Limited is a company controlled by Cathal Friel and his spouse. 5. A company wholly-owned by Mr Michael Nolan and his spouse. 6. Including 425,858 Ordinary Shares held by his spouse.     THE TAKEOVER CODE & CONCERT PARTY   Upon Admission, the Concert Party will be interested in 48,389,339 Ordinary Shares, representing 33.5 per cent. of the voting rights of the Company. Assuming exercise in full by the members of the concert party of the Options (and assuming that no other person converts any convertible securities or exercises any options or any other right to subscribe for shares in the Company), the members of the Concert Party would be interested in 50,689,339 Ordinary Shares, representing approximately 34.5 per cent. of the enlarged voting rights of the Company. A table showing the respective individual interests in shares of the members of the Concert Party upon Admission and following the exercise of the Options is set out below.    As at the date of this Announcement Immediately following Admission Maximum holding following exercise of Options granted to members of the Concert Party 2     Name Number of Existing Shares Percentage of Existing Shares   Number of Shares Percentage of issued Shares Maximum number of Shares 3 Percentage of issued Shares 3 Raglan Road Capital Limited 1   16,953,200   30.1% 19,953,200 13.8% 19,953,200 13.6% Cathal Friel 7,705,118 13.7% 7,705,118 5.3% 7,705,118 5.2% McNolan Venture Ltd 4 6,526,704 11.6% 7,426,704 5.1% 7,426,704 5.1% Ian O'Connell 3,968,499 7.0% 3,968,499 2.7% 3,968,499 2.7% Aiden Lavelle 3,477,839 6.2% 3,477,839 2.4% 4,477,839 3.0% Jack Kelly 1,784,547 3.2% 1,784,547 1.2% 2,784,547 1.9% Liam Tremble 1,171,109 2.1% 1,171,109 0.8% 1,171,109 0.8% Robert Whelan 966,890 1.7% 966,890 0.7% 966,890 0.7% Frances Lavelle 425,858 0.8% 425,858 0.3% 425,858 0.3% Carol Dalton 390,370 0.7% 390,370 0.3% 390,370 0.3% Caroline McNicholas 334,603 0.6% 334,603 0.2% 634,603 0.4% Mitaks Investment & Management AB 5   0   0.0%   450,000 0.3%   450,000 0.3% Ross Crockett 111,534 0.2% 111,534 0.1% 111,534 0.1% David Kennedy 223,068 0.4% 223,068 0.2% 223,068 0.2% Total 44,039,339 78.2% 48,389,339 33.5% 50,689,339 34.5%             1.     Raglan Road Capital Limited is a company owned by Cathal Friel and his spouse 2.     See paragraph 4 of Part 7 of the Company's Admission document published on 28 March 2024 for details of the options over Shares to be granted conditional upon Admission 3.     Assumes exercise of the options over 2,300,000 shares granted to members of the Concert Party and assumes no other issue of Shares 4.     All of the Shares beneficially owned by Michael Nolan are held by McNolan Venture Ltd which is presumed to be part of the Concert Party 5.       All of the Shares beneficially owned by Sven Anders Daniel Akselson are held by Mitaks Investment & Management AB which is presumed to be part of the Concert Party   ENDS   For more information visit www.europeangreentransition.com  

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