REG - Time To ACT PLC - Admission to AQSE and First Day of Dealings

Johnson MattheyAnnouncement

29/05/2024 08:15

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RNS Number : 1464Q  Time To ACT PLC  29 May 2024

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29 May 2024

 

Time To ACT plc

("Time To ACT", "the Company" or "the Group")

 

Admission to Trading on AQSE and First Day of Dealings

 

Time To ACT plc (AQSE: TTA), an engineering business focused on technology for
the energy transition sector, is pleased to announce that admission of its
Ordinary Shares to trading on the Aquis Stock Exchange Growth Market (the
"AQSE Growth Market") will occur, and dealings in its shares will commence, at
08.00 a.m. today, 29 May 2024 ("Admission"). Dealing in the shares will be
under the ticker "TTA" with the ISIN GB00BP2BXN97.

 

Highlights

·    A UK engineering-led group focused on the Energy Transition supply
chain

·    Two principal businesses, Diffusion Alloys (coating services, coating
technology) and GreenSpur (generator technology)

·    Revenue generating and growing topline at c.50% per annum

·    Profitable in FY23, with £1.9 million cash in the bank at 31 March
2024

·    IP-rich (protected patents, know-how, processes, simulation/modelling
and transferable system skills) enabling, in the opinion of the directors,
first-mover advantages and creating high barriers to entry

·    Locally embedded in Middlesbrough, UK (HQ, key management, coatings
plant, relationships)

·    Experienced Board and Management team

 

Chris Heminway, Executive Chairman of Time To ACT commented: "Listing on the
AQSE Growth Market marks a significant milestone for the Company, and I would
like to thank everyone involved in making this day a reality. A special thank
you also goes out to our existing and new shareholders who recognise the
opportunities Time To ACT has in the energy transition supply chain.

 

"Time To ACT is committed to fostering innovation in this sector and
developing engineering-led solutions for a cleaner, greener world. Being
listed on the AQSE Growth Market will play an important role in helping us to
deliver on this commitment."

 

Upon Admission, the Company will have 13,968,470 Ordinary Shares in issue and
a market capitalisation of approximately £6.9 million.

 

For more information, please refer to the Company's AQSE Growth Market
Admission Document, which is available on the Company's website at:
www.timetoactplc.com/investors/ (http://www.timetoactplc.com/investors/)

 

For more information, please visit www.timetoactplc.com
(http://www.timetoactplc.com) or contact the following:

 

 Time To ACT plc

 Chris Heminway, Executive Chairman                Tel: +44 (0) 1642 967138

 Gary Wallace, Chief Financial Officer             Email: crh@timetoactplc.com (mailto:crh@timetoactplc.com)

                                                   Email: gw@timetoactplc.com (mailto:gw@timetoactplc.com)
 Novum Securities Limited, AQSE Corporate Advisor  Tel: +4420 7399 9400

 David Coffman, Daniel Harris, George Duxberry

 Oberon Capital, Corporate Broker                  Tel: +44 203 179 5300

 Nick Lovering, Adam Pollock, Mike Seabrook
 St Brides Partners Ltd, Financial PR              Tel: 020 7236 1177

 Ana Ribeiro / Paul Dulieu / Isabelle Morris       Email: timetoact@stbridespartners.co.uk

 

Introduction AND BACKGrouND

 

Time To ACT plc is an engineering business focused on technology in the energy
transition sector. It currently has two principal operating divisions;
Diffusion Alloys and GreenSpur. As the holding company for the Group, Time To
ACT provides strategic and operational support to the operating companies and
capital to enable their growth.

 

Diffusion Alloys

 

Diffusion Alloys supplies diffusion coatings; an intermetallic layer that
protects metal components from degradation at high temperatures and in highly
corrosive environments, such as those in hydrogen and nuclear energy
generation.

 

Diffusion Alloys has joined forces with Johnson Matthey plc, the market
leaders in synthesis gas ("syngas") with a significant pipeline of Blue
Hydrogen projects, to scale-up production and address the increasing demand
for low carbon hydrogen used to reduce global carbon emissions.

 

The Directors believe that Diffusion Alloys is the only credible diffusion
coater in the world for blue hydrogen components, has already been coating in
volume for a leading European vendor in the green hydrogen space and is also
in pre-commercial discussions with a number of other manufacturers.

 

GreenSpur

 

GreenSpur is an intellectual property creator and generator designer that has
developed a credible solution in renewable energy applications to the Rare
Earth magnet problem.

 

Magnets constructed using Rare Earth elements are a fundamental component in
electrical generators and electric vehicle ("EV") motors which are critical to
delivering the clean energy transition. However, there are substantial supply
chain constraints and risks in the sourcing of Rare Earth elements that are
needed for these magnets.

 

GreenSpur's generator design eliminates the need for Rare Earth magnets and
copper coils without any loss in electrical performance.

 

To date, GreenSpur has built three prototype generators - a 2kW proof of
concept, a 3-stage 75kW demonstrator and a single 250kW stage of a 1MW
generator and the Company believes it can be a catalyst for the use of Rare
Earth-free magnets in wind and renewable energy generation.

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