Acquisition

Tertre Rouge Assets PLC

09 November 2023

 

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

9 November 2023

Tertre Rouge Assets PLC (the "Company" or "TRA")

Purchase Agreements signed

Further to the Company's announcement on 27 July 2023, TRA is pleased to provide an update regarding the proposed acquisitions of certain classic cars.

The Company is pleased to announce that it has now entered into purchase agreements with the relevant vendors for the acquisition of the following classic cars (the consideration details for which are set out in the announcement of 27 July):

(a)     the 1952 Ferrari Formula 2;

(b)     the 1963 Jaguar E-Type Lightweight;

(c)     the 1971 Formula One Ferrari;

(d)     the 1962 Ferrari 250 GT SWB; and

(e)     the 1958 Mercedes Benz 300SL Roadster,

(together, the "Cars").

Completion of each purchase agreement, and the acquisition of the Cars in accordance with the respective terms of each agreement, is conditional on the readmission of the Company's enlarged issued share capital to trading on the London Stock Exchange's Main Market for listed securities ("Readmission"). The acquisition of the Cars is not interdependent.

The Company continues to progress the purchase agreement for the additional classic car detailed in the 27 July announcement (namely, the 1969 Lamborghini Miura P400 SV) and the share purchase agreement relating to the proposed acquisition of the entire issued share capital of The Run To Group Limited. In conjunction with these two agreements, the Company is continuing to progress approval of its prospectus with the Financial Conduct Authority, which is a requirement of the Readmission process.

For further information, please contact:

Steven Schapera

Non-Executive Chairman & Co-Founder

T:  [phone]

E:  [e-mail]

 

END