REG - Codex Acquisitions - Acquisition Update

Codex AcquisitionsAnnouncement

10/06/2024 16:00

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RNS Number : 8499R  Codex Acquisitions PLC  10 June 2024

10 June 2024

Codex Acquisitions plc

Extension of Long Stop Date and Exclusivity Period for Proposed Acquisition

Codex Acquisitions plc (LSE: CODX) (the "Company" and "Codex") is pleased to
announced that it has entered into an amendment letter, dated 7 June 2024 (the
"Extension Side Letter") to the heads of terms, dated 8 December 2023 (the
"HOTs") with Technologies New Energy S.A. ("TNE"), a sociedade anónima
incorporated in Portugal operating in the renewable energy sector, pursuant to
which the Long Stop Date and Exclusivity Period (as specified in the HOTs)
have been extended by mutual agreement of the parties to 30 September 2024 to
provide for additional time for Codex to complete its proposed acquisition of
the entire issued share capital of TNE (the "Proposed Acquisition"). The
Extension Side Letter does not alter any other provisions specified in the
HOTs.

Background to the Proposed Acquisition

The Company was established as a 'special purpose acquisition company' with
the objective of undertaking one or more acquisitions in the clean and
renewable energy sector, as outlined in its prospectus published on 4 March
2022, a copy of which can be found on the Company's website at the following
link: https://www.codexplc.com (https://www.codexplc.com) .

The Proposed Acquisition is in line with the Company's acquisition strategy.

There can be no guarantee that the Proposed Acquisition will complete nor as
to the final terms of the Proposed Acquisition.

About TNE

TNE is a global provider and project developer of integrated state-of-the-art
energy efficiency, energy transition and decarbonisation solutions.

 

TNE owns a diversified and differentiated portfolio of renewable projects in
Portugal based on the energy flexibilisation, Power-to-X and
Biomass-to-Liquids technologies architecture that will enable novel
applications to a clean transition for the hard-to-abate sectors such as
chemical industries, mobility applications and urban built environments. TNE
mission is to significantly accelerate developments to drive decarbonisation
efforts at scale and get a lasting and unparalleled impact on our planet.

 

Further details about TNE can be found on its website at the following link:
https://tne.pt/ (https://tne.pt/) .

Julio Perez, Non-Executive Director of the Company, commented:

"We are grateful to our partners at TNE for agreeing to extend the Long Stop
Date and Exclusivity Period. This extension is crucial as it provides the
necessary additional time required to progress the Proposed Acquisition.

We remain committed to concluding this transaction to the satisfaction of all
parties involved and look forward to the continued collaboration with TNE."

Ricardo Eiras, CTO of TNE, commented:

"We would like to thank Codex for agreeing to an extension of the Long Stop
Date and Exclusivity Period. TNE remain dedicated to completing this pivotal
transaction with Codex and appreciate their continued co-operation and support
throughout this process."

The Company will make further announcements in due course, as appropriate.

Enquiries:

 

For further information, please visit www.codexplc.com or contact:

 

Codex Acquisitions plc

Julio Perez

Non-Executive Director

T: +44 (0)20 8682 0582

Email: info@codexplc.com

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