NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA, CANADA, JAPAN, NEW
ZEALAND, THE REPUBLIC OF
IRELAND OR THE REPUBLIC OF SOUTH
AFRICA, OR ANY PROVINCE OR TERRITORY THEREOF OR TO OR FOR
THE ACCOUNT OF ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES OR ANY PERSON RESIDENT IN
AUSTRALIA, CANADA, JAPAN, NEW
ZEALAND, THE REPUBLIC OF
IRELAND OR THE REPUBLIC OF SOUTH
AFRICA. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR
THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION
(596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY
THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310)
("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
EMBARGOED
For release at 7.00 am on
18 November 2022
NET ZERO INFRASTRUCTURE PLC (“NZI” or
the “Company”)
Termination of Acquisition talks and
resumption of trading
NZI, a special purpose acquisition company formed with the
intention to acquire renewable or clean energy technology companies
and to finance, develop and promote those environmentally sound
projects internationally, confirms that it has today reluctantly
withdrawn from talks to acquire Taylor Construction Plant Limited
and Solar Highways Limited (“TCP”) which was announced on
19 May 2022.
Due to the current market conditions the Directors of NZI
believe that they will not be able to raise the funds required to
complete this transaction. As a result, they have concluded
that it is in the best interests of its shareholders and the TCP to
cease talks with TCP and request that its shares resume
trading.
The net assets of the Company, after costs for the aborted
transaction are £650,000.
The Directors of NZI still aim to effect a transaction in the
renewable or clean energy technology sector, in line with its
existing acquisition strategy in the new year.
Enquiries
Net Zero Infrastructure plc
Mike Ellwood Non-Executive Chairman
+44 (0) 7999 329382
Ikonia Fintech Capital AG (Corporate Adviser)
David Scott Head of Corporate
Finance
+44 (0) 207 448 9820
Axis Capital Markets Limited (Company Broker)
Kamran Hussain Head of Corporate
Broking +44 (0) 203 026
0320
About Net Zero Infrastructure Plc Net Zero Infrastructure PLC was
formed as a special purpose acquisition company with the intention
to acquire renewable or clean energy technology companies and to
finance, develop and promote those environmentally sound projects
internationally. The Company believes that due to the global
concerns regarding environmental damage and climate change as a
result of fossil-fuelled power generation, there exists
considerable commercial opportunities in the renewable and clean
energy sector which will play an increasingly significant role in
meeting future energy needs while reducing further environmental
damage. Clean energy investment globally has grown in real and
relative terms. It is this opportunity which Net Zero
Infrastructure intends to participate in and augment as a
fund-raising vehicle for enterprises seeking access to
international markets. The Directors of Net Zero Infrastructure Plc
accept responsibility for this announcement.
FORWARD-LOOKING STATEMENTS This announcement contains
forward-looking statements which reflect the Company's or, as
appropriate, the Directors' current views, interpretations, beliefs
or expectations with respect to the Company's financial
performance, business strategy and plans and objectives of
management for future operations. These statements include
forward-looking statements both with respect to the Company and the
sector and industry in which the Company proposes to operate.
Statements which include the words "expects", "intends", "plans",
"believes", "projects", "anticipates", "will", "targets", "aims",
"may", "would", "could", "continue", "estimate", "future",
"opportunity", "potential" or, in each case, their negatives, and
similar statements of a future or forward-looking nature identify
forward-looking statements. All forward-looking statements address
matters that involve risks and uncertainties because they relate to
events that may or may not occur in the future. Forward-looking
statements are not guarantees of future performance. Accordingly,
there are or will be important factors that could cause the
Company's actual results, prospects and performance to differ
materially from those indicated in these statements. In addition,
even if the Company's actual results, prospects and performance are
consistent with the forwardlooking statements contained in this
announcement, those results may not be indicative of results in
subsequent periods These forward-looking statements speak only as
of the date of this announcement. Subject to any obligations under
the Prospectus Rules, the Market Abuse Regulation, the Listing
Rules and the Disclosure and Transparency Rules and except as
required by the FCA, the London Stock Exchange, the City Code or
applicable law and regulations, the Company undertakes no
obligation publicly to update or review any forward-looking
statement, whether as a result of new information, future
developments or otherwise. All subsequent written and oral
forward-looking statements attributable to the Company or
individuals acting on behalf of the Company are expressly qualified
in their entirety by this paragraph. The information contained in
this announcement is for background purposes only and does not
purport to be full or complete. No reliance may be placed for any
purpose on the information contained in this announcement or its
accuracy, fairness or completeness. Alexander David Securities
Limited and Axis Capital Markets Limited, which are authorised and
regulated by the Financial Conduct Authority, are acting only for
the Company in connection with the matters described in this
announcement and are not acting for or advising any other person,
or treating any other person as its client, in relation thereto and
will not be responsible for providing the regulatory protection
afforded to clients of Axis Capital or advice to any other person
in relation to the matters contained herein.