Mustang Energy Takeover Rumours (MUST)

From Cykel's results RNS today On 19 January 2024 the Company announced the suspension of our Aquis listing and that we had entered into non-binding heads of terms with Mustang Energy plc ("Mustang") for Mustang to acquire the entire share capital of the Company. This transaction, commonly referred to as a Reverse Takeover, will allow Cykel's shareholders to benefit from a listing on the Main Market of the London Stock Exchange. See hxxps://www.cykel.ai/proposed-all-share-acquisition-of-cykel-ai-plc-by-mustang-energy-plc for more information on the transaction so, all seems to be on course

I’m sure Bixby is a smart cookie.He might be puzzled that DG has put a date into the public domain & once again, either misjudged how long it takes the FCA to review a potential prospectus, or has made errors in its’ submission resulting in delays.He might be using DG/Must as useful idiots to get a better approach from another party or to get a better deal from MUST.It is notable that the ‘takeover announcement’ can be extended again next time but only if Cykel want to.

...and so the merry go round starts all over again. FFS! Mustang and Cykel today jointly announce that the Takeover Panel has consented to an extension to the Deadline until 5.00 p.m. (London time) on 15 March 2024 Gallegos kicks it down the road for a month - what a shocker! Still, he gets another £10k salary for waiting by the phone.

If we get confirmation by Friday that the takeover is going ahead I will have some confidence that this could get back to market at some future date.However, if we hear nothing by the 16th & then next Monday get the ‘…extension’ RNS from Gallegos,just like the succession of extensions we previously had from him, then I’ll expect it to drag on & eventually fall apart after he has strung it out as long as possible.