Termination of Greenview Acquisition

RNS Number : 9985G

Rockpool Acquisitions PLC

01 April 2022

 

Press release

1 April 2022

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. 

Rockpool Acquisitions Plc

("Rockpool" or "the Company")

Termination of Greenview Gas Limited Option Agreement

Further to the announcement dated 11 January 2022, in which the Company announced that it had decided not to proceed with the acquisition of Greenview Gas Limited ("Greenview"), an alternative party has been found who is willing to step into Rockpool's shoes to acquire Greenview and/or refinance the debt which the Company is owed by Greenview.  The Board is pleased to announce that it has now terminated the option agreement pursuant to which its acquisition of Greenview would have been made (the "Termination").  

The Company has received the sum of £1,200,000 from Greenview as a result of the arrangements in connection with the Termination.  This sum settles all of Greenview's liabilities to the Company, and represents a small premium on the amount of the loan provided by the Company to Greenview and the accrued interest thereon.  This sum will enable the Company to settle all its current obligations, and is anticipated to be enough to cover the transaction costs of making, in due course, an alternative acquisition (on the assumption that the consideration for such an alternative acquisition would consist wholly of new shares in the Company) and of the Company's subsequent readmission to the market, and leave it with funds for working capital. 

As the proposed reverse takeover of Greenview by the Company will no longer proceed, it is the Board's intention to apply to the FCA for the current suspension of the Company's shares to be lifted as soon as possible.  If that application is successful, then trading in the ordinary shares would recommence and continue until the Company announces that it is pursuing a particular alternative reverse takeover transaction. 

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For further information please contact: 

Rockpool Acquisitions Plc
Mike Irvine, Non-Executive Director	[e-mail] www.rockpoolacquisitions.plc.uk

Shard Capital (Broker)
Damon Heath / Erik Woolgar	Tel: [phone]

Abchurch (Financial PR)
Julian Bosdet	Tel: [phone] [e-mail]

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