Stranger Holdings PLC Heads of Terms to Acquire Two Companies (2019P)
09 Octubre 2019 - 1:00AM
UK Regulatory
TIDMSTHP
RNS Number : 2019P
Stranger Holdings PLC
09 October 2019
Stranger Holdings plc / Index: LSE / Epic: STHP / Sector:
investment
9 October 2019
Stranger Holdings plc ('Stranger' or the 'Company')
Heads of Terms to Acquire Two Companies
Holding Cobalt, Nickel & Associated Battery Metal Assets
Stranger Holdings plc, the London listed investment company, is
pleased to announce that it has signed non-binding Heads of Terms
to acquire two companies holding technology mineral assets
including cobalt, nickel and associated metals. One is a UK company
with assets located in south eastern Cameroon, Africa, and one is a
US company with assets in Idaho, United States ('the
Acquisitions'). Further details will be provided upon execution of
formal sale and purchase agreements.
The Acquisitions are subject, inter alia, to the completion of
due diligence, documentation and compliance with all regulatory
requirements, including the Listing and Prospectus Rules and, as
required, the Takeover Code.
The Acquisitions, if they proceed, will constitute a Reverse
Takeover under the Listing Rules since, inter alia, in substance it
will result in a fundamental change in the business of the
issuer.
As the Acquisitions will constitute a Reverse Takeover under the
Listing Rules, the Company has requested that the listing in the
Company's ordinary shares be suspended pending the publication of a
prospectus in relation to the Acquisition, which the Company is
working on, and the application for the enlarged Company to have
its Ordinary Shares admitted to the Official List and to trading on
the main market for listed securities of the London Stock
Exchange.
The previously contemplated and announced transactions to
acquire The Airedale House group of companies and HCS (North East)
Limited have been terminated with immediate effect.
* * ENDS * *
For further information visit www.strangerholdingsplc.com or
contact the following:
Stranger Holdings plc
James Longley Stranger Holdings plc info@strangerholdingsplc.com
Financial PR
Isabel de Salis St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
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END
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