NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, INTO OR WITHIN ANY JURISDICTION WHERE TO DO SO
WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF
SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS
MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES
LAWS.
THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE
RELEASE.
1 March 2024
New Energy One
Acquisition Corporation Plc
("NEOA" or the
"Company")
Cessation of
Operations and Redemption of Public Shareholders
New Energy One Acquisition Corporation Plc
("NEOA" or the "Company"), a special purpose acquisition company,
announces today that the Board of Directors of NEOA has decided
that it is in the best interests of the Company not to pursue a
Business Combination and to cease all operations except for the
purpose of winding up.
NEOA has considered a range of options for a
Business Combination and has had discussions with some excellent
companies. However, given the current challenging UK public equity
market conditions, the Board has concluded that a successful
Business Combination cannot be completed by 15 March 2024. It
would be inappropriate to incur further expenses in attempting to
conclude a business combination, and thus the Board has made the
difficult decision to redeem the Public Shareholders and cease
operations, except for the purposes of winding up.
The Company intends to effect the redemption of
all Ordinary Shares held by Public Shareholders, in accordance with
the terms set out in the IPO Prospectus and the Articles of
Association. There will be no redemption rights with respect to the
Public Warrants which will automatically expire upon completion of
the liquidation of the Company. In addition, the Company
intends to give notice to the Financial Conduct Authority ("FCA")
and the London Stock Exchange ("LSE") for the cancellation of
admission to listing on the standard segment of the Official List
of the FCA and to trading on the Main Market for listed securities
of the LSE of the Ordinary Shares and the Public Warrants of the
Company.
A further announcement will be released in due
course setting out the redemption process for Public
Shareholders.
For further information, please
contact:
NEOA
ONE Advisory Limited
co-sec@oneadvisory.london
FGS Global
EnergyOne-LON@fgsglobal.com
+44 (0)20 7251 3801
The information contained in this announcement
is deemed by NEOA to constitute inside information for the purposes
of Article 7 of the UK Market Abuse Regulation. By publication of
this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain. The
person responsible for arranging the release of this announcement
on behalf of NEOA is Sanjay Mehta, Executive Director.
The LEI of NEOA is
213800NRR4DCRPRUZ804.