Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Vulcan Industries Plc | AQSE:VULC | Aquis Stock Exchange | Ordinary Share | GB00BKMDX634 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.125 | 0.00 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Nov 2022 to Nov 2024
TIDMVULC
RNS Number : 0183S
Vulcan Industries PLC
06 March 2023
6 March 2023
Vulcan Industries plc
("Vulcan" or the "Company")
Acquisition of Forepower Lincoln (250) Limited and Equity Issue
Vulcan Industries plc (AQSE: VULC) is pleased to announce that it has acquired the entire share capital of Forepower Lincoln (250) Limited ("FPL 250"), a 240-megawatt (MW) Lithium-ion Battery Storage project.
Acquisition rationale
Following the disposal of its legacy businesses, Vulcan has been working to extend its portfolio of fabrication activities into the renewable energy sector. Vulcan has been engaged with the vendor over the last year to identify and develop a pipeline of Battery Storage opportunities and this acquisition is the initial project in this evolution. Further projects are expected to be brought into the Vulcan Group in due course.
Forepower Lincoln (250)
FPL (250) is a 240MW Lithium-ion Battery Storage project and holds a grid connection contract (to connect to the National Grid Infrastructure) and an option to lease a parcel of land for a minimum of 25 years. It has been identified as a major infrastructure project which is currently in the pre-planning stage. The management team of FPL(250) have a track record in identifying Battery Storage opportunities, obtaining planning, developing and bringing projects on line.
Vulcan offers the vendor the ability to raise the capital necessary to develop the FPL (250) project. It is intended to raise new equity capital initially to fund the working capital requirements of the enlarged Group; continue the planning process on the FPL (250) project and to further develop the pipeline of opportunities.
It is intended to raise new equity capital, initially to fund the working capital requirements of the enlarged Group; settle existing liabilities of FPL (250) of GBP250,000; continue the planning process on the FPL (250) project and to further develop the pipeline of opportunities.
In the event that the FPL (250) project is sold, the profit on disposal will be apportioned, with the first GBP1m payable to the Vendor, the next GBP10m will be retained by the Company and the remainder to be attributed 75% to the Company and 25% to the Vendor.
The Company has entered an Introducers' Agreement with the Seller, whereby Vulcan will be offered rights of first refusal on all future battery storage projects. A fee of GBP10,000 per MW will be payable on receipt of planning consent for each project.
Total Consideration
The total consideration payable is GBP2,600,000 to be satisfied by the issue of 260,000,000 new ordinary shares of GBP0.0004 each (the "Consideration Shares") at a price of 1p.
Following Admission, the Company's issued share capital will comprise 870,527,605 ordinary shares of GBP0.0004 each, with each share carrying the right to one vote.
In total, the Consideration Shares will represent approximately 29.87% of the enlarged share capital of the Company.
Admission
Application has been made for the 260,000,000 Consideration Shares to be admitted to trading on Aquis Stock Exchange ('Admission'). Admission is expected to occur at 8:00am on or around 10(th) March 2023.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 870,527,605 ordinary shares of GBP0.0004 each, with each share carrying the right to one vote.
The Company does not hold any ordinary shares in treasury. The above figure of 870,527,605 may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.
Ian Tordoff, Executive Chairman, "We are delighted to be working with the FPL (250) team to develop initially this exciting project and subsequently the pipeline of projects that we have identified. Battery Storage is an important part of the drive for increased renewable energy in the UK and provides significant opportunities for growth in future."
For further information, visit: https://vulcanplc.com
The directors of Vulcan accept responsibility for this announcement.
TR-1: Standard form for notification of major holdings
Hot Features
Premium
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible) (i)
1a. Identity of the issuer or the Vulcan Industries plc
underlying issuer of existing shares
to which voting rights are attached
(ii) :
--------------------------------------------
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
----
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights X
----
An acquisition or disposal of financial instruments
----
An event changing the breakdown of voting rights
----
Other (please specify) (iii) :
----
3. Details of person subject to the notification obligation (iv)
Name Forepower Lincoln (250) Limited
City and country of registered office East Yorkshire, United Kingdom
(if applicable)
4. Full name of shareholder(s) (if different from 3.) (v)
Name
--------------------------------------------
City and country of registered office
(if applicable)
--------------------------------------------
5. Date on which the threshold was 3 March 2023
crossed or reached (vi) :
--------------------------------------------
6. Date on which issuer notified 3 March 2023
(DD/MM/YYYY):
--------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) held in issuer
of 8. A) (total of 8.B (8.A + 8.B)
1 + 8.B 2) (vii)
------------------ --------------------- -------------- --------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 29.87% 0 29.87% 260,000,000
------------------ --------------------- -------------- --------------------
Position of
previous notification
(if
applicable) 0 0 0
------------------ --------------------- -------------- --------------------
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights % of voting rights
shares (ix)
ISIN code (if possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
------------------
ordinary shares
GB00BKMDX634 260,000,000 29.87%
------------------ ------------------ --------------------- ------------
SUBTOTAL 8. A 260,000,000 29.87%
-------------------------------------- -----------------------------------
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date (x) Conversion rights that may rights
Period (xi) be acquired if the
instrument is
exercised/converted.
----------- -------------------- -------------------------- ------------
SUBTOTAL 8.
B 1
-------------------- -------------------------- ------------
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
(1) (b)
Type of financial Expiration Exercise/ Physical Number % of voting
instrument date (x) Conversion or cash of voting rights
Period (xi) Settlement rights
(xii)
------------ --------------- ----------------- ------------
SUBTOTAL
8.B.2
----------------- ------------
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled
by any natural person or legal entity and does not control any other
undertaking(s) holding directly or indirectly an interest in the
(underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights X
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional
rows as necessary) (xiv)
Name (xv) % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
---------------------- --------------------- ------------------------
Britt Foreman 29.87% 0 29.87%
---------------------- --------------------- ------------------------
10. In case of proxy voting, please identify:
Name of the proxy holder
-----------------------------------------------
The number and % of voting rights
held
-----------------------------------------------
The date until which the voting rights
will be held
-----------------------------------------------
11. Additional information (xvi)
Place of completion East Yorkshire, United Kingdom
Date of completion 3 March 2023
-------------------------------
Contacts
Vulcan Industries plc Via Vox Markets
Ian Tordoff, Chairman
------------------------
First Sentinel Corporate Finance Ltd (AQSE
Corporate Adviser) +44 7876 888 011
------------------------
Brian Stockbridge
------------------------
Jenny Liu
------------------------
Vox Markets (Media and Investor Relations) vulcan@voxmarkets.co.uk
------------------------
Kat Perez +44 7881 622 830
------------------------
Paul Cornelius + 44 7866 384 707
------------------------
About Vulcan
Vulcan seeks to acquire and consolidate traditional but historically profitable engineering, manufacturing, and industrial SMEs for value and to enhance this value in part through group synergies, but primarily by unlocking growth which is not being achieved as a standalone private company. For more information visit https://www.voxmarkets.co.uk/listings/PLU/VULC
Forward Looking Statements
This news release may contain "forward-looking" statements and information relating to the Company. These statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. The Company does not undertake to update forward--looking statements or forward--looking information, except as required by law.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
NEXBBGDXBBGDGXL
(END) Dow Jones Newswires
March 06, 2023 06:13 ET (11:13 GMT)
1 Year Vulcan Industries Chart |
1 Month Vulcan Industries Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
