RNS Number : 6090D
More Acquisitions PLC
04 March 2022
 

4 March 2022

More Acquisitions plc

("More Acquisitions" or the "Company")

Admission to a Standard Listing
 and to trading on the Main Market of the London Stock Exchange

First day of dealings

Admission details

More Acquisitions plc (LSE: TMOR) announces that 125,000,100 Ordinary Shares will today be admitted 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. The placing of new ordinary shares has successfully raised a total of £1,200,001, at a placing price of £0.01 per share.

Highlights:

•     One Price for All - All investors have come in at the same IPO price; no Founder Shares or pre-IPO rounds; no warrants; no options.

•    No Advisory/Broking Fees- The Company's advisor and broker, Peterhouse Capital, has agreed to waive all advisory fees and commission on all funds raised at the IPO and will receive no annual retainer.

•     Capped listing and on-going costs -

•     Total costs for the IPO have been capped at £50,000, including all accounting, legal, PR and Exchange fees;

•     Total costs for the first full year after listing also capped at £50,000.

•   No ongoing director salaries - The Company's directors will receive no salaries or consultancy fees;   compensation will only be received by way of a success fee on the completion of an acquisition approved by   shareholders.

Strategy

The Company was formed to undertake one or more acquisitions of a majority interest in a company or business. Any such acquisition undertaken by the Company will be treated as a reverse takeover for the purposes of Chapter 5 of the Listing Rules.

The directors intend to search initially for acquisition opportunities in the energy transition sector. Energy transition refers to the global energy sector's shift from fossil-based systems of energy to renewable sources, such as wind and solar and lithium-ion batteries. As the Company intends to apply for the London Stock Exchange's Green Economy Mark in the future, attention will be given to companies that generate over 50% of their total annual revenues from products and services that contribute to the global green economy.

 

Admission details

Prior to Admission, the Company had 5,000,000 Existing Ordinary Shares in issue and conditional on Admission issued 120,000,100 Placing Shares. All Existing Ordinary Shares and Placing Shares were issued at a price of £0.01 per share.

Capitalised terms used in this announcement are as defined in the prospectus published by the Company on 1 March 2022, unless the context otherwise requires. Such prospectus was published to allow for Admission of 5,000,000 Existing Issued Ordinary Shares and 120,000,100 Placing Shares and following any relevant triggering event(s) from time to time, secondary Admission of up to 256,250,005 Shares deriving from the exercise of warrants issued in connection with the Placing. A copy of the prospectus is available at the Company's website, www.moreacquisitions.co.uk.

The total number of Ordinary Shares in issue on Admission will be 125,000,100 and this number may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

Dealing will commence at 8.am. today. The codes for the Ordinary Shares will be as follows:

ISIN 

GB00BMWKKM32

SEDOL code

BMWKKM3

TIDM

TMOR

The Company is incorporated and registered in England and Wales under the Companies Act 2006 with company number 13628889.

For further enquiries please contact:

More Acquisitions plc

Directors

Rod McIllree

Charles Goodfellow

 

 

 

 

 

Peterhouse Capital Limited

Financial Adviser and

Lauren Riley / Brefo Gyasi / Guy Miller / Eran Zucker

 

Corporate Broker

Lucy Williams / Duncan Vasey

 

+44 (0)20 7469 0930 

 

 

 

 

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