Secondary Trading Following Cancellation
31 July 2024
i(x) Net Zero PLC
("i(x) Net Zero" or the "Company")
Secondary Trading on Asset Match Following Cancellation
i(x) Net Zero announces details of the secondary market trading facility that will be in place following the cancellation of trading on AIM of its Ordinary shares ("Cancellation"), following approval by shareholders at the General Meeting held on 19th July 2024. The Cancellation will take effect from 7.00 a.m. on 1st August 2024.
The Company has now appointed Asset Match (www.assetmatch.com) to facilitate trading in the Ordinary Shares following Cancellation. Asset Match, a firm authorised and regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility for the Ordinary Shares. This facility will allow existing holders of Ordinary Shares in the Company ("Shareholders") and new investors to trade Ordinary Shares by matching buyers and sellers through periodic auctions.
Investors are encouraged to register on www.assetmatch.com and add i(x) Net Zero to their 'Watchlist' to continue to receive Company updates and auction/price information.
The Secondary Market Trading Facility is expected (but is not certain) to operate for a minimum of 12 months after the Cancellation. The Directors' current intention is that it will continue beyond that time, but Shareholders should note that it could be withdrawn and therefore inhibit the ability to trade the Ordinary Shares.
The Asset Match trading facility operates under its own code of practice which governs the behaviour of participants and the running of the periodic auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website together with the closing date of the auction. At the end of each auction period, Asset Match passes this information through a non-discretionary algorithm that determines a "market-derived" share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the closing date of each auction.
Shareholders will continue to be able to hold their shares in uncertificated form (i.e. in CREST) and should check with their existing stockbroker whether they are willing or able to trade in unquoted shares. Shareholders wishing to trade shares through Asset Match must do so through a stockbroker. A comprehensive list of stockbrokers who have signed up to access the Asset Match platform is available on request..
Full details will be made available to Shareholders on the Company's website at https://ixnetzero.com/ and directly by letter or e-mail (where appropriate). Shareholders may contact Asset Match in relation to any queries regarding trading via the secondary market trading facility by emailing dealing@assetmatch.com.
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i(x) Net Zero |
Via Buchanan below |
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Pär Lindström - Chief Executive Officer |
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Jonathan Stearns - Chief Financial Officer |
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Canaccord Genuity Limited Nominated Adviser & Broker |
+44 20 7523 8000 |
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Max Hartley |
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Harry Pardoe |
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Burson Buchanan |
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Helen Tarbet |
+44 7872 604 453 |
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Simon Compton |
+44 7979 497 324 |
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Abby Gilchrist
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+44 7557 952 223
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Asset Match Limited |
+44 20 7248 2788 |
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Ben Weaver |
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Hannah Woodley |
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