New Energy One Acquisition Corporation plc
("NEOA," or the "Company")
Related Party Transaction
New Energy One Acquisition Plc announces that it has entered into a loan agreement with Eni International B.V. ("Eni") on 30 August 2023 (the "Loan Agreement") which is intended to provide working capital for NEOA.
Eni is a shareholder of NEOA and holds 1,750,000 Ordinary Shares and 1,068,750 Sponsor Shares, representing in aggregate approximately 45% of NEOA's issued share capital.
Pursuant to the Loan Agreement, Eni has agreed to provide NEOA with an unsecured loan of £3.6 million (the "Loan") for general corporate purposes. NEOA intends to repay the Loan following completion of a business combination. The Loan, together with all interest accrued thereon, is repayable in full on or before the expiry date of 31 March 2024.
Jadran Trevisan, a director of NEOA, nominated by Eni, did not take part in the NEOA board's consideration of the Loan or vote on the board resolution to approve the Loan.
The Loan constitutes a material related party transaction for the purposes of paragraph 7.3 of the Disclosure Guidance and Transparency Rules. NEOA's directors (other than Jadran Trevisan) confirm that the Loan is fair and reasonable from the perspective of NEOA and its shareholders (other than Eni).
For further information please contact:
NEOA
Sanjay Mehta sanjay.mehta@energyone.je
FGS Global EnergyOne-LON@fgsglobal.com
+44 (0)20 7251 3801
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.