More Acquisitions PLC Update on Proposed RTO (3160W)

TIDMTMOR

RNS Number : 3160W

More Acquisitions PLC

17 April 2023

17 April 2023

More Acquisitions plc

("More" or the "Company")

Update on Proposed RTO

Further to the announcement on 23 September 2022 regarding the proposed acquisition by More of Megasteel Limited ("Megasteel") (the "RTO" or the "Proposed Acquisition"), the Company is pleased to confirm that preparations for the publication of a prospectus and admission of the enlarged group to trading on the London Stock Exchange are now well advanced.

The Directors of More are also pleased to confirm that the Company and Megasteel are currently undertaking an investor roadshow as part of the Proposed Acquisition.

Rod McIllree, Executive Director of More Acquisitions plc, said:

"We are pleased to report that the RTO is progressing well. We are particularly encouraged by the strong level of interest that has been being shown in Megasteel by the UK investment community to date. We are increasingly confident that shareholders can expect completion of the RTO within this quarter, subject to FCA and other relevant approvals."

Nigel Roberts, CEO of Megasteel Limited, said:

"We are very pleased that we are are now in the final stages of the proposed RTO of Megasteel Ltd by More Acquisitions PLC. I have met with several existing shareholders of More and also potential shareholders and I look forward to concluding the process speedily and successfully."

Enquiries:

More Acquisitions plc

Rod McIllree/ Charles Goodfellow

   Peterhouse Capital Limited    [phone] 

Financial Adviser

Narisha Ragoonanthun/ Guy Miller/ Brefo Gyasi

Broker

Lucy Williams/ Duncan Vasey

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 [e-mail] 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

FUREALLLFLDDEFA

(END) Dow Jones Newswires

April 17, 2023 02:00 ET (06:00 GMT)