Update on Proposed RTO

RNS Number : 3160W

More Acquisitions PLC

17 April 2023

 

17 April 2023

More Acquisitions plc

("More" or the "Company")

Update on Proposed RTO

Further to the announcement on 23 September 2022 regarding the proposed acquisition by More of Megasteel Limited ("Megasteel") (the "RTO" or the "Proposed Acquisition"), the Company is pleased to confirm that preparations for the publication of a prospectus and admission of the enlarged group to trading on the London Stock Exchange are now well advanced.  

The Directors of More are also pleased to confirm that the Company and Megasteel are currently undertaking an investor roadshow as part of the Proposed Acquisition.  

Rod McIllree, Executive Director of More Acquisitions plc, said:

"We are pleased to report that the RTO is progressing well. We are particularly encouraged by the strong level of interest that has been being shown in Megasteel by the UK investment community to date. We are increasingly confident that shareholders can expect completion of the RTO within this quarter, subject to FCA and other relevant approvals."

 

Nigel Roberts, CEO of Megasteel Limited, said:

"We are very pleased that we are are now in the final stages of the proposed RTO of Megasteel Ltd by More Acquisitions PLC. I have met with several existing shareholders of More and also potential shareholders and I look forward to concluding the process speedily and successfully."

 

Enquiries:  

More Acquisitions plc

Rod McIllree/ Charles Goodfellow

Peterhouse Capital Limited   [phone]

Financial Adviser

Narisha Ragoonanthun/ Guy Miller/ Brefo Gyasi  

Broker

Lucy Williams/ Duncan Vasey

 

END

 

 

FUREALLLFLDDEFA