THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.

This announcement is not an admission document or a prospectus and does not constitute or form part of an offer to sell or issue or a solicitation of an offer to subscribe for or buy any securities nor should it be relied upon in connection with any contract or commitment whatsoever in any jurisdiction. Potential investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of the information in the admission document (the "Admission Document") which will be published by the Company in due course in connection with the proposed admission of its issued and to be issued ordinary shares to trading on AIM, a market operated by London Stock Exchange plc ("AIM"). Copies of the Admission Document will, following publication, be available during normal business hours on any day (except Saturdays, Sundays and public holidays) at the registered office of the Company and online at www.europeangreentransition.com, subject to applicable securities laws or regulations. 

28 March 2024

European Green Transition plc

("European Green Transition", "EGT" or "the Company")

Fundraise and Proposed Admission to Trading on AIM

European Green Transition ("EGT"), a company developing a portfolio of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition, announces its proposed admission to trading on AIM ("Admission") and its successful placing and subscription, conditional on Admission, (the "Fundraise") of 64,495,890 new ordinary shares (the "Fundraise Shares") of £0.0025 each in the capital of the Company (the "Shares") at a price of 10 pence per Share (the "Placing Price") with institutional and other investors.

EGT's business model is to develop a portfolio of green economy assets in Europe, capitalising on Europe's green energy transition. The Company intends to implement a disciplined M&A focused model and has already acquired a portfolio of assets, notably its principal Olserum Rare Earth Element (REE) project.

Under the Fundraise, the Company has conditionally raised approximately £6.45 million (before expenses) which it intends to deploy towards its capital-efficient development programmes and to support the potential acquisition of additional green economy assets.

In addition to the Fundraise, the Company also intends to make an offer on the Bookbuild platform (the "Retail Offer") of new ordinary shares at the Placing Price (the "Retail Offer Shares") for up to £0.5 million. A separate announcement will be made shortly regarding the Retail Offer and its terms. The Retail Offer is conditional on the Placing and the Subscription becoming unconditional, however the Placing and Subscription are not conditional on the Retail Offer becoming unconditional.

The Company intends to publish its Admission Document ("Admission Document") in due course and has applied for its enlarged share capital to be admitted to trading on AIM. Admission and the commencement of dealings on AIM are expected to take place at 8.00am BST on 8 April 2024 under the ticker EGT. The Company's ISIN is GB00BPVG5407 and SEDOL is BPVG540.

Panmure Gordon (UK) Limited ("Panmure Gordon") is acting as Sole Broker, Bookrunner and Nominated Adviser in relation to the Fundraise and Admission.

Aiden Lavelle, Chief Executive Officer of European Green Transition, said: 

"We see significant opportunity in Europe for businesses such as ours that support the green economy transition, and we are encouraged by the recent final approval of the European Critical Raw Materials Act, which was adopted earlier this month to ensure a secure and sustainable supply of critical raw materials within Europe.

We are pleased to announce our c.£6.45m Fundraise from institutional investors and family offices, an increase from our target raise, and we intend to imminently launch a retail offer through Bookbuild for a maximum of £0.5m. The Fundraise provides EGT with funding to progress the execution of our capital-efficient development programmes across our portfolio of assets, whilst also potentially supporting the acquisition of further green economy assets within our M&A growth pipeline."

Enquiries

European Green Transition

Panmure Gordon - Nominated Adviser, Sole Bookrunner and Broker

Camarco - Financial PR

For more information visit www.europeangreentransition.com  

Important Notices

This announcement has been issued by, and is the sole responsibility of, the Company.

The content of this announcement has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. Any purchase of the Company's shares on Admission should be made solely on the basis of the information contained in the Admission Document. No reliance may or should be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

For the avoidance of doubt, the contents of the Company's website are not incorporated by reference into, and do not form part of, this announcement.

This announcement includes statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms ''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', ''plans'', ''may'', ''will'' or ''should'' or, in each case, their negative or other variations or comparable terminology. All statements other than statements of historical fact included in this announcement are forward-looking statements. They appear in a number of places throughout this announcement and include statements regarding the directors' or the Company's intentions, beliefs or current expectations.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and therefore are based on current beliefs and expectations about future events. Forward-looking statements are not guarantees of future performance and the Company's actual operating results and financial condition, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if the Company's operating results, financial condition and liquidity, and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. Accordingly, prospective investors should not rely on these forward-looking statements.

These forward-looking statements speak only as of the date of this announcement. The Company and Panmure Gordon expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto, any new information or any change in events, conditions or circumstances on which any such statements are based, unless required to do so by law or any appropriate regulatory authority.

The Shares described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "US Securities Act"), or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold, transferred or delivered, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. The Shares are only being offered outside of the United States in reliance on Regulation S under the US Securities Act.

Furthermore, the Shares have not been and will not be registered under the applicable laws of any of Canada, Australia, Japan or the Republic of South Africa or of any other jurisdiction where to do so would be unlawful and, consequently, may not be offered or sold to any national, resident or citizen thereof. The distribution of this announcement in or into jurisdictions other than the United Kingdom may be restricted by law and therefore any person who is subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, such restrictions. Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction.