Aura Renewable Acquisitions PLC Annual Results (3777V)
April 05 2023 - 1:00AM
UK Regulatory
TIDMARA
RNS Number : 3777V
Aura Renewable Acquisitions PLC
05 April 2023
Aura Renewable Acquisitions plc
("Aura" or "Company")
Annual Results
5 April 2023 - Aura Renewable Acquisitions plc, a UK-based
company whose objective is to invest in the global renewable energy
sector supply chain and thereby build shareholder value, is pleased
to announce its maiden results for the period from the date of
incorporation on 4 November 2021 through to 31 December 2022.
Aura was formed as a special-purpose acquisition company
focusing on the Global Renewable Energy Sector Supply Chain,
particularly on businesses in the wind, solar, biomass, hydropower,
carbon capture, waste management, energy storage, smart grid and
green hydrogen supply chain.
The Company raised gross proceeds of GBP1 million on admission
to the Standard Segment of the Official List of the Financial
Conduct Authority and to trading on the Main Market for listed
securities of the London Stock Exchange in April 2022. For the
period ended 31 December 2022 the Company recorded a loss before
taxation of GBP236,000, a significant part of which related to the
expensed costs related to the listing. Our operating expenses are
very closely controlled, and the directors do not draw income
during this pre investment stage. As of 31 December 2022, the
Company had bank balances of GBP809,000.
The Company continues to actively review potential acquisition
targets at various stages of development and operating in a number
of geographic regions, all of which have potential global
relevance. We also continue to take soundings from the investor
community to thereby best fit investment appetite with the
opportunities available.
National governments have recently shown a common resolve to
reflect the need to focus on sustainable renewable energy,
including the scale up of affordable, clean, homegrown power to
provide long term energy security in the UK, investment incentives
to speed the transition to low-carbon economy in the US through the
Inflation Reduction Act, and C$80 bn of tax credits over 10 years
for clean technology and clean electricity in Canada.
Our investment horizon is relatively wide within our chosen
sector, and we will continue to assess and qualify what we believe
to be value accretive opportunities in the UK and overseas. When
our ongoing evaluation and investigation result in the potential
for a transaction, the Company will give the market appropriate
notice.
John Croft, the Chairman of Aura commented:
" Since listing, Aura has been exploring targets in the UK and
overseas which could provide an opportunity to create significant
growth in this crucially important, exciting and fast-moving market
sector. We have also consulted with the Board's professional and
business networks to raise the Company's profile and reinforce its
intentions and objectives to these potential introducers of
opportunities, as a result of which we have held early discussions
with a number of potential target companies for acquisition.
"The widespread economic and political uncertainty caused by
supply chain issues, inflation, interest rate rises, hostilities in
Europe and further afield, the lingering impact of Covid and
climate change, restricted capital market activity during 2022.
However, there are early signs that capital market transactions may
be beginning to resurface, and we remain more confident than ever
that the renewable energy sector will offer excellent opportunities
for acquisitive and organic growth. We are committed to ensure that
the Company and its stakeholders have the chance to share in these
opportunities."
Publication on website
A copy of this announcement is also available on the Company's
website at http://www.aurarenewables.com.
Enquiries
Aura Renewable Acquisitions Plc
John Croft (Non-Executive Chairman) 07785 315588
Robin Stevens (Non-Executive
Director) 07787 112059
Media enquiries
Allerton Communications
Peter Curtain 020 3633 1730
aurarenewables@allertoncomms.co.uk
LEI: 894500XA241IB9HL7147
Notes to Editors
Aura was established to acquire and then act as the holding
company for targeted businesses operating in the Global Renewable
Energy Sector Supply Chain, particularly participants in the wind,
solar, biomass, hydropower, carbon capture, waste management, smart
grids and green hydrogen supply chain, and their sub-sectors. These
potential targets could range from raw materials resourcing to
power generation, energy storage and recycling.
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
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