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Share Name Share Symbol Market Type Share ISIN Share Description
Stranger Holdings Plc LSE:STHP London Ordinary Share GB00BYWLRL80 ORD GBP0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.375 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -0.5 -0.4 - 2

Stranger Holdings PLC Potential Acquisition Update & Directorate Change

08/04/2021 7:00am

UK Regulatory (RNS & others)


Stranger (LSE:STHP)
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RNS Number : 7455U

Stranger Holdings PLC

08 April 2021

8 April 2021

Stranger Holdings Plc ("Stranger" or the "Company")

Potential Acquisition Update & Directorate Change

Stranger Holdings PLC, the London listed investment company, is pleased to announce that it has signed non-binding Heads of Terms to acquire Technology Minerals Ltd ("Technology Minerals"), which aims to create a consolidated battery metals and battery metal recycling group ("the Acquisition").

The Acquisition 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 Acquisition, if it proceeds, will constitute a Reverse Takeover ("RTO") under the Listing Rules since, inter alia, in substance it will result in a fundamental change in the business of the issuer.

Technology Minerals is a holding company focused on becoming the UK's first listed company to create a circular economy for battery metals within a single group. The Board believes that this represents an attractive opportunity as circular economies hold the key to a viable future for the fast-growing electric vehicle sector.

Technology Minerals is currently advancing several acquisitions, principally focused on extracting the raw materials required for Li-ion battery cathodes and thereby helping to solve the ecological issue of spent Li-ion batteries by recycling them for reuse by battery manufacturers; these will be completed at the time of the Acquisition.

These potential acquisitions include a major recycling group, the Recyclus Group ("Recyclus"), with whom Stranger has previously held talks regarding an RTO. In addition, Technology Minerals has already, or is in the process of, negotiating the acquisition of lithium, cobalt and nickel assets based in the USA, Ireland, Spain, and Cameroon.

To support the RTO, Technology Minerals has appointed a team of advisors including PKF Littlejohn as reporting accountants, and Pello Capital as stockbrokers.

Board Appointment

To help expediate the RTO process, Stranger is pleased to announce the appointment of Mr Mark Bernard Battles as Non-Executive Director with immediate effect.

Mr Battles (aged 54) has extensive experience working with UK listed companies in both executive and non-executive roles. He has particular experience working with growth businesses across a range of sectors including renewables, natural resources, financial services, media, marketing, telecoms, technology, and real estate.

Mr Battles has worked extensively with private companies offering corporate finance, consultancy and fundraising advice and has a strong network of contacts among the professional advisory and investment communities. He has also been involved in a number of successful IPOs, trade exits and capital raising rounds, which have a combined market value of approximately GBP400 million over the last 15 years.

Furthermore, Mr Battles is a successful investor in his own right and is the founder of the League of Angels ("the League"), an investment society focused on supporting and promoting fast growth British ventures with positive global impact. The League, under Mr Battles stewardship, has grown into a thriving Investor Society and partners with other organisations in Europe and North America.

ENDS

For further information visit www.strangerholdingsplc.com or contact the following:

 
 
  Stranger Holdings plc 
James Longley   Stranger Holdings plc   info@strangerholdingsplc.com 
Financial PR 
Cosima Akerman  St Brides Partners Ltd  info@stbridespartners.co.uk 
 

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END

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April 08, 2021 02:00 ET (06:00 GMT)

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