Net Zero Infrastructure Plc Intention to Float
14 September 2021 - 4:29PM
UK Regulatory
TIDMNZI
NOT FOR PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES OR AUSTRALIA,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.
For Immediate Release
14 September 2021
NET ZERO INFRASTRUCTURE PLC
("NZI" or the "Company")
Admission Announcement to the London Stock Exchange Main Market
The directors of the Company (the "Directors") are pleased to announce that an
application has been made for the admission ("Admission") of the Company's
ordinary shares to the London Stock Exchange ("LSE") Main Market under Exchange
symbol 'NZI' and ISIN GB00BNK8T635. The Company's registered office is 1
Charterhouse Mews, London, EC1M 6BB, United Kingdom.
The expected date of Admission is 15 September 2021. On Admission, the Company
will have an approximate market capitalisation of £1.82 million at £0.03 per
share.
The Company is the process of conducting a placing of 50,000,000 shares at £
0.03 to raise £1,500,000. Upon Admission, the Company will have net funds of
approximately £1.227 million and there will be 60,700,000 ordinary shares of £
0.01 par value in issue.
Company Information
NZI was established in 2021 through the issue of shares to the founders as a
special purpose acquisition vehicle which will seek an acquisition target in
the renewable and clean energy sector.
In 2019, the United Kingdom became the first major economy in the world to pass
laws to end its contribution to global warming by 2050 and, on 20 April 2021,
the UK government announced a new target to reduce national emissions by 78% by
2035. This new target was enshrined into law in June 2021 pursuant to the
Carbon Budget Order 2021 (SI 2021/750). It meets the recommendation of the
Climate Change Committee, which advised on the net zero target for 2050. The
Climate Change Committee also recommended that low carbon investment scale up
to £50 billion each year for this purpose.
In light of this, the Directors consider there to be significant commercial
opportunities in the renewable and clean energy sectors which, in their view,
will play an increasingly significant role in meeting future energy needs. To
date, the Directors believe that the majority of investment in these sectors
has been made with a focus on delivering specific renewable technologies and
projects rather than on the supply chain and infrastructure which enable such
technologies and projects to operate. The Directors expect these infrastructure
assets, which are critical to achieving the net zero target, to offer stable
long term cash flows to investors.
Directors
The Directors of the Company, and their age and positions are as follows:
Michael Ellwood - Non-executive director and chairman (age 60)
Michael is an experienced corporate banker having previously been Managing
Director of RBS Structured Finance. Most recently, as Head of Corporate and
Commercial Banking at Santander U.K. Ltd in London, he assisted in establishing
Santander in the U.K. corporate banking market, with a significant presence in
the renewable and infrastructure sector.
He sat on both the U.K. Executive Committee and the Global Coverage Board for
the Investment Bank and was also a senior member of the U.K. Credit Committee.
Brian Basham - Non-executive director (age 77)
Brian Basham is a former investigative journalist, Mergers & Acquisitions
communications specialist and entrepreneur. He started his career in
journalism with City Press, then moved to the Daily Mail, the Daily Telegraph
and The Times. After a brief spell as a fund manager, he moved into public
relations, joining John Addey Associates.
Brian has been a founding member of a number of companies, including Broad
Street Group, Primrose Care, Equity Development and ArchOver. He has also
advised the chairmen and chief executives of many large companies and
organisations including British Airways, Hanson, Bae Systems, Tesco, Guinness,
Safeway, Wimpy, Saatchi and Saatchi, Age Concern, and the British Association
of Pension Funds.
Alejandro Ciruelos - Non-executive director (age 40)
Alejandro is a Managing Director at Sustainable Development Capital LLP
("SDCL") where he heads the renewable energy and power practice of the firm. He
has 15 years of experience in structuring, financing, investing and raising
capital for power and infrastructure projects and corporations. Alejandro has
participated twice as an expert witness in the UK Energy and Climate Change
Committee and co-authored Renewable Energy Finance: Powering the Future.
Prior to joining SDCL, Alejandro was a Managing Director and member of the
executive leadership team of Santander Corporate & Investment Banking in London
where he was responsible for the origination, structuring and placement of
private debt and equity products.
James Wharton - Non-executive director (age 37)
James is a British Conservative Party politician who entered the House of Lords
as Baron Wharton of Yarm in September 2020. Prior to this, he served as the
Member of Parliament for his home constituency of Stockton South from 2010 to
2017 and served as the Northern Powerhouse Minister at the Department for
Communities and Local Government. He also served as the Minister for Africa at
the Department for International Development. James' early career was as a
solicitor working for a firm in the Northeast of England.
James now has a number of roles including Chair of the Office for Students,
England's Higher Education regulator.
Reasons for Admission to the London Stock Exchange Main Market
The Company is raising capital to fund the acquisition of a company or business
in the renewable or clean energy sector. The Directors consider that admission
of the Company's shares to trading on the Main Market will be attractive both
to investors under the Placing and to the vendors of potential target companies
or businesses as the Company executes its investment strategy, relative to the
listing or admission of the Company's shares on a different exchange.
Directors Interest
The interests of the Directors, their immediate families and any persons
connected with them (within the meaning of section 252 of the Act) (all of
which, unless otherwise stated, are beneficial) in the Company's issued share
capital as at the date of this announcement and as they are expected to be
prior to and immediately following Admission will be as follows:
Director Name Number of issued Percentage of Entire
Ordinary Shares Issued Share Capital
at Admission
Michael Ellwood 1,250,000 2.06%
Brian Basham 1,000,000 1.65%
Alejandro 0 0%
Ciruelos
James Wharton 0 0%
Shares in Public Hands
Approximately 83.1 per cent. of the Company's share capital will be in public
hands upon Admission.
Document Available for Inspection
Copies of the prospectus and this announcement are available from the Company's
website, https://nziplc.com.
The directors of Net Zero Infrastructure Plc accept responsibility for this
announcement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Company Contact Details:
Net Zero Infrastructure Plc
1 Charterhouse Mews
London, EC1M 6BB,
United Kingdom.
Telephone: +44 (0) 20 8124 3630
https://nziplc.com
Corporate Adviser:
Alexander David Securities Limited
David Scott - Corporate Finance
James Dewhurst - Corporate Finance
49 Queen Victoria Street,
London, EC4N 4SA
United Kingdom
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
Placing Agent and Broker from Admission:
Axis Capital Markets Limited
27 Clements Lane
London, EC4N 7AE
United Kingdom
Telephone: +44 (0) 20 3026 0320
https://axcap247.com
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 forward-looking
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 Markets
Limited or advice to any other person in relation to the matters contained
herein.
END
(END) Dow Jones Newswires
September 14, 2021 11:29 ET (15:29 GMT)