REG - Aura Renewable Acqns - Cessation of Proposed Acquisition

Aura Renewable AcquisitionsAnnouncement

15/04/2025 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250415:nRSO9895Ea&default-theme=true

RNS Number : 9895E  Aura Renewable Acquisitions PLC  15 April 2025

 

Aura Renewable Acquisitions Plc

("Aura" or the "Company")

 

15 April 2025

 

This announcement contains inside information for the purposes of Article 7 of
the EU Market Abuse Regulation No. 596/2014/EU, which forms part of domestic
UK law pursuant to the European Union (Withdrawal) Act 2018, as amended. Upon
release via a Regulatory Information Service, this information is in the
public domain.

Not for release, publication or distribution in whole or in part, directly or
indirectly in, into or from any jurisdiction where to do so would constitute a
violation of the relevant laws or regulations of such jurisdiction.

 

Termination of exclusivity with Zero Carbon Technologies Limited

and

Restoration of Trading

Aura, a UK-based company, whose objective is to invest in the global renewable
energy sector supply chain and thereby build shareholder value, announced on 9
December 2024 that it had entered into heads of terms (the "Heads of Terms")
with Zero Carbon Technologies Limited ("ZCT"), a UK incorporated company with
planned battery recycling operations in Europe, which set out the key terms
for Aura to acquire 100% of the issued share capital of ZCT ("Proposed
Acquisition").  Although those terms were not legally binding, the Heads of
Terms did include legally binding provisions, including with regard to
exclusive dealing between the parties regarding the Proposed Acquisition.

The Company further announced that should the Proposed Acquisition complete,
it would constitute an Initial Transaction under the UK Listing Rules, and
accordingly the Company requested the Financial Conduct Authority ("FCA") to
suspend the Company's listing on the Equity shares (shell companies) category
of the Official List and the trading of its shares on the Main Market of the
London Stock Exchange ("Suspension").

Unfortunately, the board of directors of the Company ("Board") has concluded
that it would not be in the best interests of the Company's shareholders to
pursue the Proposed Acquisition and has given notice to ZCT that the Heads of
Terms and the discussions relating to the Proposed Transaction are terminated.
Minimal external due diligence costs have been incurred on this potential
transaction.

In light of the termination of the Heads of Terms and discussions, the Company
has applied to have the Suspension lifted. Trading in the Company's shares is
expected to re-commence shortly.

The Board will continue to seek alternative attractive targets and further
updates will be provided in due course.

-       Ends     -

 Contact Information
 Aura Renewable Acquisitions Plc
 John Croft, Chairman: +44 77 8531 5588

 Media Enquiries
 Allerton Communications
 Peter Curtain: +44 203 663 1730

 LEI: 894500XA241IB9HL7147

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSFFFULEISEIL