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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Net Zero Infrastructure Plc | NZI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 1.35 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.35 |
| Industry Sector |
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| GENERAL RETAILERS |
| Top Posts |
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Posted at 07/6/2023 18:58 by hedgehog 100 Thanks to MrMagorium on LSE for flagging up this piece on the LINE Hydrogen website:-"LINE Hydrogen Announces UK Listing June 1, 2023 | Line Hydrogen | Brisbane, Australia The Australian green hydrogen company is merging with UK organisation, Net Zero Infrastructure PLC, and is set to be listed on the LSE by September. LINE Hydrogen, a leading Australian-based hydrogen production company is pleased to announce that it has executed a Heads of Terms with Net Zero Infrastructure PLC (NZI) a Special Purpose Acquisition Company (SPAC) listed on the Main Market of the London Stock Exchange (LSE) for a reverse takeover between the two companies. The proposed transaction is expected to be completed by September 2023, subject to pre-conditions and regulatory approvals. ..." |
Posted at 01/6/2023 15:22 by hedgehog 100 01/06/2023 07:51 PR Newswire (US) Net Zero Infrastructure Plc - Possible Acquisition and Suspension of Listing LSE:NZI Net Zero Infrastructure Plc"The Directors of the Company are pleased to inform shareholders that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of LINE Hydrogen (Australia) Pty Ltd, a limited liability company in the renewables energy sector incorporated in Australia (the "Potential Target") in consideration for an issue of new shares in the Company (the "Acquisition"). The Acquisition, if completed, and an associated proposed private fundraise by the Company, details of which will be announced in due course, would result in the shareholders of the Potential Target having a majority interest in the enlarged group. ... NZI's Chairman, Mike Elwood said: "Joining forces with LINE Hydrogen means we can leverage our joint resources with a view to expanding operations and driving the development of the green energy sector. Together, we believe that we are well-positioned to capitalize on the growth potential in this market and contribute to a more sustainable future." Brendan James, Founder and Executive Chairman of LINE Hydrogen, added: "We are thrilled to announce our proposed transaction with NZI," said Brendan James, Founder and Executive Chairman of LINE Hydrogen. "The planned merger reflects our shared vision of advancing the hydrogen economy and accelerating the adoption of clean energy solutions. We believe that, by combining our strengths and expertise, we can create significant value for our shareholders and make a positive impact on the global energy landscape." ... About LINE Hydrogen (Australia) Pty Ltd LINE Hydrogen (Australia) Pty Ltd is an Australian-based hydrogen production company. The company specializes in the production, distribution and storage of hydrogen for various applications, offering innovative solutions that contribute towards a sustainable and decarbonized future. ..." "Green Hydrogen Production Now" "LINE Hydrogen will deliver early market, commercial scale green hydrogen for diesel replacement in Australia." Looks like it could be a large and exciting RTO. NZI has been suspended today at a price of 1.35p, market cap. £819,450 (60.7M. shares in issue). |
Posted at 14/4/2023 12:54 by lazygun nzi reporting needs improvement.no AGM advance notice, nothing on website... 16 million or so votes cast on proposals - so some people were advised of it... so who and how and when? l |
Posted at 15/2/2023 11:40 by lazygun I gather there are other opportunities that NZI are exploring currently, so if any of them pan out we may yet end up back in suspense again sooner rather than later…L |
Posted at 18/1/2023 17:37 by hedgehog 100 Also note that due to recent changes in listing rules, 'newer' main-listed shells like MCI cannot arrange a sub-£30M. market cap. RTO, unlike NZI.To summarise:- • 'Pre-existing' main-listed shells that listed by 2.12.21 can still arrange a sub £30M. market cap. RTO (minimum only £0.7M.), up until 1.12.23 completed FCA submissions; after that they can still arrange RTOs, but subject to the £30M. minimum. • 'New' main-listed shells can still float with a sub £30M. market cap. (previous minimum only £0.7M.), up until 2.6.23, if they completed their FCA submission by 2.12.21. - But these shells will be subject to the £30M. RTO minimum. This clearly gives shells like NZI more flexibility. And as the supply of older main-listed shells like NZI gradually dries up, their scarcity value increases, with the smallest RTO candidates fighting over this diminishing pool of available shells. NZI is also far further down the road to arranging a RTO than new shells, and will have an existing list of RTO candidates to choose from, from its work since it listed in September 2021. |
Posted at 18/1/2023 16:19 by hedgehog 100 So the TCP deal is indeed off the table now.But NZI still plans to effect a RTO this year, and should have enough cash to arrange this. 18/01/2023 09:46 UK Regulatory (RNS & others) Net Zero Infrastructure Plc Interim Results to 30 September 2022 LSE:NZI Net Zero Infrastructure Plc "INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTH PERIODED 30 SEPTEMEBR 2022 Net Zero Infrastructure Plc, a special purpose acquisition company formed with the intention to acquire renewable or clean energy technology companies and to finance, develop and promote those environmentally sound projects internationally, is pleased to announce its unaudited interim results for the six months ended 30 September 2022. Chairmans Statement Since the Company's year-end in March 2022, the Board continued to search for suitable acquisition targets. On 19 May 2022, the Company announced that it had signed a heads of agreement with Taylor Construction Plant Limited ("TCP") to acquire the entire issued share capital of TCPL. On 18 November 2022, the Company confirmed that it had reluctantly withdrawn from talks to acquire Taylor Construction Plant Limited. Due to market conditions, the Directors of NZI believed that they could not raise the funds required to complete this transaction. As a result, they concluded that it was in the best interests of its shareholders and those of TCP to cease talks with TCP. The net assets of the Company, after costs for the aborted transaction are £ 879,679. The Board still aims to effect a transaction in the renewable or clean energy technology sector, in line with its existing acquisition strategy, in the 2023. Financial Review For the six months to 30 September 2022, the Company reports a net loss of £ 285,605 (2021: net loss of £173,915). During the six months to 30 September 2022, the Company continued its strict financial discipline, incurring a net operating cash outflow of £307,879 (2021: inflow of £66,800). The Company held cash at 30th September 2022 of £888,038 (2021: £66,800). ..." |
Posted at 06/1/2023 16:00 by hedgehog 100 Good to receive an update, and for the annual report and financial statement link to be RNSed.As you would expect, this is the same report and financial statement submitted to Companies House on 12th. December, which we have already seen. So NZI's 1.12.22 Chairman's statement in this is talking as if the TCP RTO is still live, despite the 18.11.22 'termination of acquisition' RNS. And the second RNS today is to a degree qualified in this regard:- "The Directors of NZI continue to see a number of prospective transactions in the renewable or clean energy technology sector, in line with its existing acquisition strategy. In the event that a prospective transaction becomes viable the Directors will notify shareholders." This could suggest that NZI & TCP haven't been able to agree terms that NZI currently considers viable for it, but that this could change. 06/01/2023 11:13 UK Regulatory (RNS & others) Net Zero Infrastructure Plc Annual Report and Financial Statements LSE:NZI Net Zero Infrastructure Plc "ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2022 Please see link for the full Annual Report and Financial Statements here: hxxps://mma.prnewswi 06/01/2023 11:13 UK Regulatory (RNS & others) Net Zero Infrastructure Plc Release of Final Results LSE:NZI Net Zero Infrastructure Plc "Release of Final Results and update on application for the Resumption of Trading Annual Results to 31 March 2021 NZI, a special purpose acquisition company formed with the intention to acquire renewable or clean energy technology companies and to finance, develop and promote those environmentally sound projects internationally announces that today 6 January 2023 that the Company's Annual Report & Financial Statements for the Year to 31 December 2021 has been published ("Annual Report"). The full Annual Report can be viewed at the Company's website: www.nziplc.com The Company's Annual General Meeting will be convened in due course and shareholders will be duly notified. The Annual Report together with the Notice of AGM and Form of Proxy will be mailed or otherwise made available to shareholders in due course. Update on resumption of trading The Board can also confirm that intends to publish its Interim Results to 30 September 2022 by the 16 January 2023 and following those being published will then apply for the lifting of the suspension of the Company's shares to trading on the Standard Segment of the London Stock Exchange. Update on activities The Directors of NZI continue to see a number of prospective transactions in the renewable or clean energy technology sector, in line with its existing acquisition strategy. In the event that a prospective transaction becomes viable the Directors will notify shareholders. ENQUIRIES For further information, please visit - www.nziplc.com Contact Details Net Zero Infrastructure PLC Mike Ellwood - Chairman- 07999 329382 Corporate Finance Advisor Ikonia Fintech Capital AG - David Scott +44 7977 121135 Corporate Broker Axis Capital Markets Kamran Hussain +44 203 0260320" |
Posted at 29/11/2022 15:27 by hedgehog 100 In order for TCP to IPO on the main market now, it would need a minimum 10% free float, and a minimum £30M. market cap.:-"... • Reducing the amount of shares an issuer is required to have in public hands (i.e. free float) from 25% to 10%, reducing potential barriers for issuers created by current requirements. • Increasing the minimum market capitalisation (MMC) threshold for both the premium and standard listing segments for shares in ordinary commercial companies from £700,000 to £30 million. Raising the MMC will give investors greater trust and clarity about the types of company with shares admitted to different markets. The new rules come into force on 3 December 2021. ..." In order for TCP to IPO on AIM now, there would be no minimum market cap. requirement, but it might be required to have a minimum 25% free float:- "... There is no a minimum market capitalisation for a company to be admitted to AIM, but most companies tend to fall within the £25 million to £500 million bracket. There is no minimum percentage of shares that must held in public hands, as is the case with the Full List of the London Stock Exchange. However, in practice, the AIM team may require 25% of shares to be held as a free float. This is a logical requirement as otherwise a company’s stock would not have sufficient liquidity to justify its public company status. ..." So current difficulty in raising funds could certainly scupper an IPO by TCP at the moment. But it should still currently be able RTO into NZI, without raising additional funds initially. The minimum initial market cap. requirement for a RTO into NZI is only £0.7M., for the time being; and as far as I'm aware there would be no onerous free float requirement - and NZI's share of the enlarged equity should be able to count towards this. |
Posted at 21/11/2022 15:13 by hedgehog 100 Thanks for that info. Lazygun.Personally, I wouldn't worry if some of the contact details haven't been updated. Details do sometimes change, and updating isn't always a priority. Ikonica's registered office is in Germany, but their operations are in London: Another possible contact is NZI's largest shareholder, Mr Rupert Labrum, who holds 29.65%:- He is also Executive Chairman at Primorus Investments (PRIM):- And he posts on the ADVFN PRIM thread as betterupthandown1:- Although he's not a NZI director, as the largest shareholder he may have easier contact with its directors, and indeed may carry some influence. I would be interested in his views on why NZI doesn't RTO TCP now, without raising funds, and the raise more funds next year. Note that 'pre-existing' main-listed shells that listed by 2.12.21 (i.e. including NZI) can still arrange a sub £30M. RTO (minimum only £0.7M.), up until 1.12.23 completed FCA submissions; after that they can still arrange RTOs, but subject to the £30M. minimum. "The Directors of NZI still aim to effect a transaction in the renewable or clean energy technology sector, in line with its existing acquisition strategy in the new year." The New Year isn't far away. Normally if a shell with NZI's market cap. and cash said that it it could effect a RTO shortly, you would expect a nice share price uplift in anticipation. I have also previously seen directors come in to buy shares after an aborted RTO. So a dip at trading resumption could provide a real buy opportunity, from an already depressed s.p.: the market cap. of £1.34M., at 2.2p, is already very low. Moreover, the numbers here are similar to CRES, which has a proposed RTO at a shell value of c. £2M.: for NZI that would equate to about 3.3p/share. That's above its IPO price of 3p last year - shells like to RTO at a premium to their original float price. |
Posted at 19/5/2022 09:50 by hedgehog 100 Suspended for a RTO (reverse takeover), as is standard practice.And it looks like a good one: a significant, profitable business in an exciting, buoyant space. Well done to NZI's management, and fingers crossed that the RTO proceeds. 19/05/2022 07:30 UK Regulatory (RNS & others) Official List Suspension - Net Zero Infrastructure PLC LSE:NZI Net Zero Infrastructure Plc "NOTICE OF TEMPORARY SUSPENSION OF LISTING FROM THE OFFICIAL LIST 19/05/2022 07:30 TEMPORARY SUSPENSION Net Zero Infrastructure PLC The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 19/05/2022 07:30 at the request of the company: ..." 19/05/2022 08:11 UK Regulatory (RNS & others) Net Zero Infrastructure Plc Proposed Acquisition and Suspension of Listing LSE:NZI Net Zero Infrastructure Plc "NZI, a special purpose acquisition company formed with the intention to acquire renewable or clean energy technology companies and to finance, develop and promote those environmentally sound projects internationally, is pleased to confirm that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of Taylor Construction Plant Limited and Solar Highways Limited ("TCP" or "the Target"). TCP is a UK based infrastructure services business, for a combination of cash consideration and new shares in the Company (the "Proposed Transaction"). The Proposed Transaction, if completed, and an associated proposed placing of shares by the Company, details of which will be announced in due course, would result in the shareholders of the Target having a significant minority interest in the enlarged group. The principal activity of TCP is the supply and hire of specialist equipment to UK infrastructure and construction contractors. TCP is transitioning its existing business from diesel-powered to zero emission equipment powered by hydrogen and other renewable sources. This is carbon neutral at the point of use and offers customers an alternative to the use of diesel across a wide range of market applications, including in construction, events, film, and temporary power. The Target is profitable and includes as its customers a number of leading participants in the infrastructure services market. The Proposed Transaction is 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 "Conditions"). The Company will update shareholders as to progress made in relation to the Proposed Transaction as and when appropriate. As a non-binding LOI is subject to the Conditions, the Company cannot guarantee nor provide any certainty that the Proposed Transaction will be completed. The Proposed Transaction, if it proceeds, 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. Where a reverse takeover is contemplated but has not yet been completed, the FCA will normally suspend a company's listing pending the publication of a prospectus prepared in accordance with the Prospectus Rules and approved by the FCA, or an announcement that the Proposed Transaction is not proceeding. Accordingly, the Company has requested that the listing of its Ordinary Shares of £0.01 each (ISIN GB00BNK8T635) be suspended temporarily with effect from 7.30 a.m. today. The Company is working on the preparation of a prospectus in relation to the Proposed Transaction and intends, in due course, to make an 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 ("Relisting"). Should the Proposed Transaction not proceed, then the Company would need to apply for the suspension to be lifted and for trading to be restored. The UK MAR offers, by way of exception to the immediate disclosure of inside information, the possibility on a case-by-case basis to delay such disclosure under certain conditions. In accordance with article 17(4) of UK MAR, any issuer may thus delay, under its own responsibility, the public disclosure of inside information so as not to prejudice its legitimate interests provided that such omission is not likely to mislead the public and the issuer is able to ensure the confidentiality of the information. The Company relied on article 17(4) of UK MAR and delayed the release of information in respect of the signing of the LOI. In the opinion of the board of directors of the Company, the delay of the publication of information on the decision to commence negotiations on the Proposed Transaction was in the Company's legitimate interest as its disclosure was likely to affect the outcome of those negotiations or their normal pattern. The decision to commence negotiations only showed the intention and the final success of those negotiations depended on many factors. In the opinion of the board of directors of the Company, the delay was not likely to mislead the public and they could ensure the confidentiality of the information. Mike Ellwood, CEO of NZI, said: "The Board of NZI has been impressed with the historical performance of the Proposed Target and its continued growth as it transitions into the green energy space. The Proposed Target has a strong management team, who have demonstrated innovation with the roll-out of its Hydrogen and other renewable power solutions to the growing UK market in infrastructure services and it is playing an important role in the green economy space. We look forward to working with them with a view to completing this transaction and to continue to develop the business with them thereafter. Andrew Barker, CEO and significant shareholder of Taylor Construction Plant Ltd added: "On behalf of my fellow shareholders and the board of TCP, we are excited by the opportunity to partner with NZI and its shareholders/investo the continued growth within a fast-expanding net zero market sector. As we continue to develop and roll out an exciting new range of clean energy products and services, the enlarged grouping and funding support will be well placed to lead and support its existing and new customer relationships as they transition towards clean energy powered solutions. ..." |
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