Stranger Holdings plc / Index: LSE / Epic: STHP / Sector: investment
13 December 2021
Stranger Holdings plc ('Stranger' or the 'Company')
Update re Acquisition of South African Uranium Asset and Appointment of Director
Stranger Holdings plc, the London listed investment company, is pleased to announce that the transaction to acquire an advance and near-term production uranium project located in South Africa (the 'Acquisition') is being advanced and in accordance with the previously announced Heads of Terms, the Company has appointed a new non-executive director, Ms Jackline Muchai, to the Board, as a representative of the project vendors, effectively immediately.
Ms Jackline Muchai is a Kenyan based businesswoman and is the founder and Chief Executive of Nairobi-based Gathoni MuchaiInvestments Limited, a focused mining and materials investments and real estate l businesses and specialising in investments in East and Southern Africa. Ms Muchai is also a director and the Project Manager of Mayflower Africa Foundation which aims at improving young children's education, health and well-being in Africa through education, nutrition and recreational programs.
On completion of its legal, financial and technical due diligence, it is proposed that the Company will appoint a further non-executive director as a representative of the project vendors to Board, and will then look to complete the Acquisition.
Given the change in strategy to focus on developing the proposed near-term, low-cost uranium project and associated energy metals projects in Africa, the Company aims to change its name on completion of the RTO to Neo Energy Metals Limited.
Further details will be provided as the Company advances its due diligence and documentation.
The following information is disclosed about Ms Jackline Muchai, aged 31:
| Current Directorships / Partnerships: | Previous Directorships / Partnerships held in the past 5 years: | |
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| Mayflower Energy Metals Limited, UK | Nil | |
| Mayflower African Foundation, UK Gathoni Muchai Investments Limited, Kenya |
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The Directors of the issuer accept responsibility for the contents of this announcement.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
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For further information visit www.strangerholdingsplc.co.uk 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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