Pineapple Power Corporation PLC Corporate Update (9640P)
February 23 2021 - 01:00AM
UK Regulatory
TIDMPNPL
RNS Number : 9640P
Pineapple Power Corporation PLC
23 February 2021
23 February 2021
Pineapple Power Corporation PLC
Corporate Update
Pineapple Power Corporation plc ("Pineapple Power" or "the
Company") is pleased to provide an update on its activities.
Pineapple Power was formed as a "cash shell" with a specific
focus on acquisitions in the clean and renewable energy sector, as
outlined in its prospectus published on 21 December 2020 (the
"Prospectus"), which can be found on the Company's website -
www.pineapple-powercorp.com
The Company notes the increase in its share price since its
listing became effective on 24 December 2020 and is appreciative of
investors' support for the Company. The Company is making this
announcement both in response to such share price rise and in light
of the numerous requests for an update received by it.
There is consistent news flow about new technology development
and the attention of governments world-wide to address the problems
of air pollution, environmental damage and global warming related
to the continued use of fossil fuels which the Directors consider
to be supportive of businesses and investors operating in the
renewable energy and clean technology sectors. Accordingly, the
Company's Directors continue to believe that, as was stated in the
Prospectus, in light of such issues there is a significant
commercial opportunity in the renewable and clean energy sectors.
Within this broad sector, the Company has a focus on potential
opportunities in the battery storage sector, although not to the
exclusion of other areas should an attractive opportunity
arise.
Due to such extensive media coverage of this industry and its
potential for growth, and due to the Company's status as a Main
Market-listed "cash shell", Pineapple Power has received a number
of approaches to discuss potential transactions. Such approaches
are preliminary in nature and the Company's Board and its advisers
are in the early stages of considering them, with the relevant
counterparty, in accordance with the business strategy, execution
and due diligence criteria and processes set out in the Prospectus.
The Company is also actively seeking other potential transaction
candidates.
None of the situations currently under review are at a stage
where it would be appropriate for the Company to announce details
to the market. There can be no guarantee or certainty that any of
the current matters under discussion will proceed, or on what
terms, or that the Company will be able to source potential
alternative transactions. The Board of the Company, with its
advisers, intends to continue its thorough review and vetting
process, and, in accordance with its obligations as a listed
company and within market practice, Pineapple Power will announce
details in due course of any potential transaction that has
progressed to a stage where it would be appropriate to do so, but
will not otherwise provide any further updates to the market.
For further information please contact -
Pineapple Power Corporation PLC
Claudio Morandi - Director +44 203 039 3913
Clive de Larrabeiti
Corporate Finance Advisor
clive.d.l@pineapple-powercorp.com +44 797 317 7973
-------------------
Joint Corporate Broker
Peterhouse Capital
Charles Goodfellow
cg@peterhousecap.com
+44 207 220 9791
Joint Corporate Broker
Axis Capital Markets
Richard Hutchison
rh@axcap247.com +44 203 026 0320
-------------------
Media Relations
David Burton
Total Market Solutions
davidburton.tms@gmail.com
Tancredi Intelligent Communications
Salamander Davoudi +44 795 754 9906
salamander@tancredigroup.com
Helen Humphrey
helen@tancredigroup.com +44 744 922 6720
-------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDDDGDDCBDDGBD
(END) Dow Jones Newswires
February 23, 2021 02:00 ET (07:00 GMT)
Pineapple Power (LSE:PNPL)
Historical Stock Chart
From Feb 2024 to Mar 2024
Pineapple Power (LSE:PNPL)
Historical Stock Chart
From Mar 2023 to Mar 2024