TIDMACG
RNS Number : 9105P
ACG Acquisition Company Limited
12 October 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY
HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE
7 OF THE MARKET ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS
PART OF THE UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED
12 October 2023
ACG Acquisition Company Limited ("ACG" or the "Company")
Update on the Company
Further to its announcement on 28 September 2023, ACG announces
today that, pursuant to its Memorandum and Articles, it intends to
cease all operations except for the purpose of winding up in
accordance with the laws of the British Virgin Islands, ACG's
jurisdiction of incorporation. Accordingly, Public Shareholders who
hold Class A Ordinary Shares as at 8:00 a.m. (UK time) on 18
October 2023 shall have their Class A Ordinary Shares automatically
redeemed and payment in respect of such Class A Ordinary Shares
will be made through CREST by the Depositary, Link Market Services
Trustees Limited, as promptly as reasonably possible and the
Company intends that such payment be made by no later than 26
October 2023, all in accordance with Regulation 26 of ACG's
Memorandum and Articles. Upon completion of a liquidation of ACG,
the Warrants will expire worthless and holders will no longer have
any rights thereunder.
Notwithstanding the above, the Company is currently in
discussions with the Co-Sponsors and certain IPO Institutional
Investors regarding a potential extension of the Company's
operations. No assurance can be given that an agreement for such
extension will be reached by ACG, the Co-Sponsors and the IPO
Institutional Investors. If agreed, any such extension would be
effected through an amendment to the Memorandum and Articles of ACG
to be voted on by its Shareholders. Upon approval of any such
amendment, Public Shareholders will have the opportunity to redeem
their Class A Ordinary Shares in exchange for the amounts they are
entitled to receive under ACG's Memorandum and Articles.
Further announcements will be made in due course.
Capitalised terms used in this announcement have the meaning set
forth in the prospectus relating to the Acquisition approved by the
U.K. Financial Conduct Authority and published by ACG on 30 June
2023 .
- ENDS -
The person responsible for the release of this information on
behalf of the Company is Artem Volynets, Chief Executive
Officer.
For further information please contact:
Palatine acg@palatine-media.com
Communications Advisor
Conal Walsh / Andreas Grueter / Richard Seed / Kelsey
Traynor
About the Company
ACG Acquisition Company Limited is a SPAC looking to benefit
from favourable price conditions for new economy metals and other
mining materials.
The Company aims to optimise its expertise in global mining by
combining with a mining company that produces materials
characterised by supply constraints and rising long-term demand.
The combined entity will capitalise on the need for resource
security and geographic supply diversification, as well as the
global energy transition.
ACG's team has extensive M&A experience built through
decades spent at blue-chip multinationals in the sector. The team
brings a significant network, including access to many mining
companies as well as a commitment to ESG principles and strong
corporate governance.
For more information about ACG, please visit: www.acgcorp.co
Forward-looking statements
Some of the information in these materials may contain
projections or other forward-looking statements regarding future
events or the future financial performance of the Company. You can
identify forward looking statements by terms such as "expect",
"believe", "anticipate", "estimate", "intend", "will", "could",
"may" or "might" the negative of such terms or other similar
expressions. The Company wishes to caution you that these
statements are only predictions and that actual events or results
may and often do differ materially. The Company does not intend to
update these statements to reflect events and circumstances
occurring after the date hereof or to reflect the occurrence of
unanticipated events. Any forward-looking statements reflect the
Company's current view with respect to future events and many
factors could cause the actual results to differ materially from
those contained in projections or forward-looking statements of the
Company, including, among others, ACG's ability to obtain adequate
information to evaluate the target assets, ACG's ability to
successfully or timely complete the contemplated acquisition, ACG's
and Appian Capital's expectations around the performance of the
target assets, ACG's potential ability to obtain additional
financing to complete the contemplated acquisition and the
financial performance of the enlarged group that would result from
the potential completion of the contemplated acquisition.
Forward-looking statements speak only as of the date they are
made.
Inside information
This announcement contains inside information for the purposes
of the market abuse regulation (EU No. 596/2014), as it forms part
of United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended.
Important notices
This announcement or any part of it does not constitute or form
part of any offer to issue or sell, or the solicitation of an offer
to acquire, purchase, subscribe for, any securities.
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities of the Company have not or will not
be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered
or sold in the United States, except pursuant to an applicable
exemption from registration.
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END
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October 12, 2023 02:00 ET (06:00 GMT)
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