Mining, Minerals & Metals PLC Acquisition & Suspension of Listing -- Update (4399R)
October 26 2023 - 8:00AM
UK Regulatory
TIDMMMM
RNS Number : 4399R
Mining, Minerals & Metals PLC
26 October 2023
Mining, Minerals & Metals plc
26 October 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA
A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Mining, Minerals & Metals Plc/Index: LSE/Epic: MMM/Sector:
Natural Resources
Mining, Minerals & Metals plc
("MMM" or the "Company")
Proposed acquisition and Suspension of Listing - Update
Heads of Terms with Georgina Energy plc
The Board has now entered into heads of terms with Georgina
Energy plc ("GEO"). GEO is an early-stage resource company with a
strategy of actively pursuing the exploration, commercial
development and monetisation of helium, hydrogen and hydrocarbon
interests located in the Amadeus and Officer Basins in Northern and
Western Australia ("Proposed Transaction").
The Proposed Transaction, if completed, would constitute a
reverse takeover under the Listing Rules and accordingly the
Company would need to apply for re-admission of its shares to the
Official List and the Main Market of the London Stock Exchange.
As the Company is currently unable to provide a full disclosure
under Listing Rule 5.6.15, the Company's listing in its ordinary
shares on the standard segment of the Official List and trading
from the London Stock Exchange ("LSE") will remain suspended
pending the publication of a prospectus providing further details
on GEO as enlarged by the Proposed Transaction.
In the event that the Proposed Transaction does not proceed the
Company will seek the lifting of its suspension from the standard
segment of the Official List and trading on the LSE.
The Proposed Transaction is conditional on a number of
conditions including; i) satisfactory due diligence ii) entering
into a definitive legal agreements iii) raising further funds for
the Proposed Transaction; iv) approval by shareholders at a General
Meeting to be convened; v) obtaining all necessary approvals (if
required) and; vi) granting of eligibility for the readmission of
the Company to the Official List by the FCA.
There can be no certainty that the Proposed Transaction will
take place and the Company will continue to update shareholders in
due course.
Update on transaction with African Resources Holdings
The Board of MMM announces that it is not able to pursue the
transaction with Africa Resources Holdings, LLC ("ARH"), to acquire
the entire issued share capital of Narnia Mauritius Gas Holdings
Limited, regarding their interests in the Lindley Natural Gas
Project until such time as the licences relating to the project are
renewed, which has been pending for a considerable period of
time.
Roy Pitchford
Non-Executive Chairman, Mining, Minerals & Metals plc
Telephone +44 (0)20 7317 0644
Email: roy@mmmplc.com
Tavira Financial Limited - Financial Adviser and Broker
Jonathan Evans
Telephone: +44 (0)20 3192 1733
Email: jonathan.evans@tavira.group
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END
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October 26, 2023 09:00 ET (13:00 GMT)
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