The Company will complete its
voluntary-delisting from the Tel Aviv Stock Exchange pending
fulfilment of remaining conditions
ASERET, Israel, May 10, 2024
/PRNewswire/ -- Nostromo Energy Limited (TASE:NOST) provider
of the IceBrick® system, a virtual power plant (VPP)-enabled
thermal energy storage for commercial and industrial (C&I)
buildings, announced today results of its shareholders vote on the
proposed arrangement to delist the company's shares from trading on
the Tel Aviv Stock Exchange. Details of the proposed delisting
arrangement were released by the company in its announcement on
February 28, 2024 and are available
here. At the shareholders meeting, duly convened and held today, at
2:00 PM Israel time, the proposed
arrangement was approved by a vote of holders of 6,013,647 shares
(representing 99.37% of total shares present and voting) who voted
FOR the proposed arrangement, vs. a vote of holders of 38,081 of
shares (representing 0.63% of total shares present and voting) who
voted AGAINST.
The closing of the transaction and delisting remains subject to
certain conditions, including final approval by the District Court
in Israel (Central Circuit) of a
pending application under Section 350 of the Israeli Companies Law,
an election by holders of at least 60% of outstanding shares made
by May 16, 2024 to retain their
shares following the delisting (i.e., to rollover), and approval by
the Tel Aviv Stock Exchange of the company's delisting request.
About Nostromo Energy
Nostromo Energy's ice-based energy storage solution is
redefining energy storage for commercial and industrial buildings,
enabling them to become sustainable energy storage assets and
reduce their energy costs and carbon emissions. Nostromo's
IceBrick® system uses ice to store energy when electricity prices
are low and renewable energy is abundant, and discharge the energy
to avoid purchasing electricity that is both carbon intensive and
expensive. In this way, Nostromo helps accelerate the renewable
revolution and paves the way to a carbon-free electric grid, while
offering building owners a safe, clean and financially beneficial
energy storage solution. The IceBrick® is non-flammable, modular
and compact, easily retrofitted to existing commercial and
industrial buildings. To learn more about Nostromo and the
IceBrick® technology, visit www.nostromo.energy.
This press release contains forward-looking statements.
Forward-looking statements are based on assumptions about the
future, involve risks and uncertainties, and are not guarantees.
Future results may differ materially from those expressed or
implied in any forward-looking statement. These forward-looking
statements represent our estimates and assumptions only as of the
date of this press release. We assume no obligation to update or
revise any forward-looking statement as a result of new
information, future events or otherwise.
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SOURCE Nostromo Energy