Stranger Holdings plc / Index: LSE / Epic: STHP / Sector: investment
17 November 2021
Stranger Holdings plc ('Stranger' or the 'Company')
Heads of Terms to Acquire South African Uranium Asset
Stranger Holdings plc, the London listed investment company, is pleased to announce that it has signed non-binding Heads of Terms to acquire a company with a near term uranium project located in South Africa ('the Acquisition').
The Acquisition is subject, inter alia, to the completion of due diligence, documentation, and compliance with all regulatory requirements, including the Listing and Prospectus Rules and as required, the Takeover Code. The Acquisition, if it proceeds, will constitute a Reverse Takeover ("RTO") under the Listing Rules since, inter alia, in substance it will result in a fundamental change in the business of the issuer.
The uranium project, which has existing SAMREC compliant resources, was the subject of a previous positive feasibility study and benefits from excellent infrastructure with road, power and water all located within 2km of the asset. The project has the potential for a major resource upgrade and to be developed as a near-term, low-cost uranium project.
Further details will be provided as the Company advances its due diligence and documentation.
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For further information visit www.strangerholdingsplc.com or contact the following:
| Stranger Holdings plc | James Longley | info@strangerholdingsplc.com |
| St Brides Partners Ltd | Financial PR | stranger@stbridespartners.co.uk |
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