Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Terry,
A RTO typically take a few months minimum to progress from the letter of intent / heads of terms signing point to reaching completion.
(Resource sector RTOs, which this of course isn't, tend to take even longer.)
So I would have been surprised if completion here had been achieved this early, which would have been much faster than average.
Especially as we are in the summer lull, and the FCA has been experiencing delays since the COVID-19 pandemic.
So I wouldn't draw any conclusions for the likelihood or not of this going ahead from the time that it's taking.
I would also say that the generally poor stock market conditions since May are helpful here.
As I said here on 10th. May:-
Poor stock market conditions tend to make it harder to IPO, increasing the attractions of the RTO route, and increasing the bargaining power of shells like NZI.
The cash shell TMTA released its final results recently, and this point from Chairman's statement backs up this view:-
26th Jul 2022 7:00 am RNS Final Results
"Results for the period 25 March 2021 to 31 March 2022
... The recent resets of pricing in technology stocks in our view works to the company's advantage. ..."
https://www.lse.co.uk/rns/TMTA/final-results-587ma8gkxqc1q20.html
From NZI's second 19th. May RNS (8.11a.m.), re the RTO work required:-
"The Proposed Transaction is subject, inter alia, to the completion of due
diligence, documentation and compliance with all regulatory requirements,
including the Listing and Prospectus Rules and, as required, the Takeover Code
(the "Conditions"). The Company will update shareholders as to progress made in
relation to the Proposed Transaction as and when appropriate. As a non-binding
LOI is subject to the Conditions, the Company cannot guarantee nor provide any
certainty that the Proposed Transaction will be completed."
"CUTTING EDGE
Innovation
From manufacturing world first to clever safety initiatives, read about how we ensure that TCP is at the cutting edge of plant sales and hire.
At TCP we pride ourselves on our commitment to innovation - something recognised in our collection of awards.
Here are just a few ways we stay ahead of the competition.
Hydrogen fuel cells
We are the proud manufacturers of the world’s first low-energy, hydrogen-fuelled LED lighting tower powered by the BOC Hymera fuel cell. Instead of polluting exhaust fumes, all they produce is clean power and water vapour, making them the ultimate in eco-friendly lighting solutions. And, on top of their zero emissions status, they also produce zero noise, making complying with Section 61 a breeze.
Efficiency
We’ve gone to great lengths to ensure that our products are as economical as possible. For instance, all our LED lights feature a prismatic lens that makes the most of every lumen, magnifying the light output while maintaining a smooth, glare-free beam. It’s also not just our hydrogen offerings that are ultra-efficient, with our diesel options using 75% less fuel than standard mobile towers. As such, they’re capable of running for up to 170 hours unsupervised.
Safety
Safety is at the heart of everything we do. As well as working with respected manufacturers such as Hamm and Ramax, we work hard to make sure that our own products raise the bar on site safety. This dedication is shown by the development of the AMOSS, ‘Automatic Mast Operating Safety System’, that, once fitted, prevents operators from moving the light tower while the mast is raised. It’s a simple, low-cost solution to potentially expensive incidents and has been adopted by lighting tower manufacturers across the globe. Outside of lighting, we also specialise in remote-controlled rollers, insulating the user from harmful hand/arm vibration (HAV).
Fit for purpose
Whether you’re looking for an anti-theft lighting tower that’s ultra secure or one that’s as easy to transport as wheeling a barrow, we’ve got the lighting solution for you. With 30 years of experience across the UK, we understand what our customers need most, and design solutions to meet them. Everything is incredibly easy to use, with towers boasting the likes of multiple tie-down points and single-axis, hand-operated masts. Plus, you can be sure you’re picking safe products, either designed in house or chosen from our trusted manufacturers."
https://www.tcp-group.co.uk/18/21/construction-plant-machinery-innovation
"WHY TAYLOR CONSTRUCTION PLANT
With decades of construction experience, you can be confident renting from TCP:
1000+
LIGHTING TOWERS ON RENTAL
1,400+
PLANT MACHINES AVAILABLE FOR HIRE
30
YEARS OF EXPERIENCE
5
LOCATIONS GIVING UK-WIDE COVERAGE"
https://www.tcp-group.co.uk/1/1/uk-lighting-compaction-recycling-plant-supplier
"Headquartered in the historic Essex town of Maldon, Taylor Construction Plant Ltd offers nation-wide rental and sales from sites across the UK.
With depots in Coventry, Essex, Leeds, Exeter and now Scotland, we are better positioned than ever before to serve our customers. Whether it’s equipment hire and servicing from leading construction brands or our own award-winning off-grid fleet, we’ve got you covered.
We’re committed to providing the UK and overseas with innovative, high-quality solutions, providing value for money while offering market-leading products to increase efficiency, environmentalism and safety."
"Mobile Lighting Solutions
TCP has also developed its own award-winning range of mobile lighting towers that use either diesel or hydrogen fuel cell technology. The Ecolite T and P diesel lighting towers use 75% less fuel than standard mobile towers and are capable of running for up to 170 hours unsupervised.
Our latest development is the Ecolite TH200 – the world’s first low-energy, hydrogen-fuel-cell-powered LED lighting tower.
These H2 towers boast zero site emissions, zero spillage and zero noise pollution, enabling seamless compliance with Section 61. And, with a range of complementary products – such as the ultra-portable WH2 and the ultra-secure Ecolite P – TCP offers a full suite of off-grid power solutions.
It has won a number of accolades including the 2013 ‘Skanska Supply Chain Green Solution Award’, and was shortlisted for the 2015 Highways Industry ‘Product of the Year’. The Ecolite TH200 has also been selected as a finalist for the Essex Greener awards’ 'Most Innovative Product 2015' and the ‘Intelligent Infrastructure Challenge 2017’, run by Highways UK."
https://www.tcp-group.co.uk/13/about
Looks ok to me - good business space/sector (presumably strong growth potential), profitable, cash+shares structure etc. A good start for NZI!
Be interesting to see what the terms of the deal are.
Suspended for a RTO (reverse takeover), as is standard practice.
And it looks like a good one: a significant, profitable business in an exciting, buoyant space.
Well done to NZI's management, and fingers crossed that the RTO proceeds.
19th May 2022 7:30 am RNS Suspension - Net Zero Infrastructure PLC
"NOTICE OF TEMPORARY SUSPENSION OF LISTING FROM THE OFFICIAL LIST
19/05/2022 07:30
TEMPORARY SUSPENSION
Net Zero Infrastructure PLC
The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 19/05/2022 07:30 at the request of the company: ..."
https://www.lse.co.uk/rns/NZI/suspension-net-zero-infrastructure-plc-2f113nazn282hyf.html
Proposed Acquisition and Suspension of Listing PRN 19.05.22 08:11:00
"NZI, a special purpose acquisition company formed with the intention to acquire renewable or clean energy technology companies and to finance, develop and promote those environmentally sound projects internationally, is pleased to confirm that it has signed a non-binding letter of intent (“LOI”) to acquire the entire issued share capital of Taylor Construction Plant Limited and Solar Highways Limited (“TCP” or “the Target”). TCP is a UK based infrastructure services business, for a combination of cash consideration and new shares in the Company (the "Proposed Transaction"). The Proposed Transaction, if completed, and an associated proposed placing of shares by the Company, details of which will be announced in due course, would result in the shareholders of the Target having a significant minority interest in the enlarged group.
The principal activity of TCP is the supply and hire of specialist equipment to UK infrastructure and construction contractors. TCP is transitioning its existing business from diesel-powered to zero emission equipment powered by hydrogen and other renewable sources. This is carbon neutral at the point of use and offers customers an alternative to the use of diesel across a wide range of market applications, including in construction, events, film, and temporary power. The Target is profitable and includes as its customers a number of leading participants in the infrastructure services market.
The Proposed Transaction is subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the Listing and Prospectus Rules and, as required, the Takeover Code (the ”Conditions”). The Company will update shareholders as to progress made in relation to the Proposed Transaction as and when appropriate. As a non-binding LOI is subject to the Conditions, the Company cannot guarantee nor provide any certainty that the Proposed Transaction will be completed. ..."
https://www.londonstockexchange.com/news-article/NZI/proposed-acquisition-and-suspension-of-listing/15459682
Seems like good news! RTO
Wow. That's two of my shares that have been suspended this week. EUA now unsuspended.
Thoughts.
GLA
LSE % Gainers Top Lists
EPIC Name %
BSFA Bsf Enterprise +64%
Share Price: 9.00 Bid: 8.00 Ask: 10.00 Change: 3.50 (63.64%)
Today's top riser BSFA shows the potential of shells in even challenging stock market conditions.
And NZI has multiples more cash than BSFA did prior to its RTO, while being at a similar pre-RTO market cap.
17th May 2022 8:00 am RNS Admission to Trading and First Day of Dealings
"Following the successful reverse takeover of 3D Bio-Tissues Limited ("3DBT"), a tissue engineering business based in Newcastle, UK, the Company announces admission of the enlarged group to the standard segment of the Official List and initiation of trading on the London Stock Exchange's Main Market at 8.00 a.m. today under the ticker ' BSFA ' ("Admission"). The Admission follows a placing which raised GBP1.75m at a placing price of 7.37 pence per share.
About 3DBT
• A tissue engineering company with patent-protected IP that is already producing human corneas that could help restore vision to millions of people ..."
https://www.lse.co.uk/rns/BSFA/admission-to-trading-and-first-day-of-dealings-38j8fo00bixs0om.html
Shell company PNPL nearly doubled in the first half of April, despite not even announcing any news.
PNPL is currently 4.75p, market cap. £2.84M.
Like NZI, PNPL had fallen a long way.
But unlike NZI, PNPL is trading at multiples of its cash, which even at the end of last June was below £1M. (£930K.)
"London Stock Exchange Group welcomes The Net Zero Delivery Summit
Posted: 11 May 2022
Share this page
Mark Carney, UN Special Envoy on Climate action and Finance, and Co-Chair, GFANZ opened the market to celebrate the Net Zero Delivery Summit, organized by the City of London Corporation in association with COP26 Presidency UK and Glasgow Financial Alliance for Net Zero (GFANZ).
The City of London Corporation, in association with the COP 26 UK Presidency 2022, is organizing the Net Zero Delivery Summit at the Mansion House, London, on 11th and 12th May 2022.
This international summit, delivered at the halfway milestone between COP 26 in Glasgow and COP 27 in Sharm El-Sheikh, will focus on net zero delivery and the progress of key priorities for finance agreed at COP 26 in Glasgow.
COP26 attracted unprecedented presence and engagement from the financial and professional services (FPS) sector, with the UK and City leading on the commitment to realign trillions of dollars towards global net zero. Almost 200 countries agreed to the Glasgow Climate Pact which aims “to keep 1.5C alive” and complete the Paris Agreement, by accelerating action on climate this decade.
In Glasgow, countries agreed the way forward for the new post-2025 climate finance goal with up to $130tn of private capital committed to reaching net zero by 2050.
The Net Zero Delivery Summit will evaluate the progress made so far, set new milestones, and accelerate on delivery.
Senior international policymakers, experts and Ministers will address what the current challenge to energy security and disruption to supply chains means for the net zero agenda and its implementation; how financial and professional services are supporting net zero delivery across the wider economy; and how finance is being effectively mobilised to support the net zero transition in emerging markets, to build climate resilience in developing countries and secure a just transition to net zero.
Hosted by The Lord Mayor of London, Vincent Keaveny, with participation from the COP 26 and the Glasgow Financial Alliance for Net Zero (GFANZ) leadership, as well as FPS and business leaders, the summit will commit to driving three objectives:
• Maintain momentum on key policy initiatives for finance from COP 26;
• Present as best practice, the role of FPS in helping the wider economy achieve net zero;
• Secure London’s role as a strategic leader on sustainable finance.
Speakers include, John Kerry, Special Presidential Envoy for Climate, Alok Sharma, MP, and COP 26 President; Mark Carney, Co-Chair of GFANZ and UN Special Envoy for Climate Action and Finance, Mary Schapiro, Vice Chair and Head of the Secretariats for GFANZ and Task Force on Climate-related Financial Disclosures ...
www.netzerodeliverysummit.com"
https://www.londonstockexchange.com/discover/news-and-insights/london-stock-exchange-group-welcomes-net-zero-delivery-summit
A shell like NZI - with both great cash underpinning and great deal prospects - is a great place to 'park funds' at the moment.
Many investors may wish to reduce their exposure to shares in companies with trading businesses, but holding cash for months doesn't give any real direct upside - certainly in the short term.
NZI though has both underpinning, and great potential upside - it could easily multibag from this level on a good deal, and it could be soon.
And you don't have to worry about funds being tied up here for a while if you won't be using them anyway.
Thanks to Burton for flagging up the article below in January, which is worth revisiting.
There's only about four months left to meet that one year target, though of course something could be unveiled sooner.
Either way though, good progress on assessing target companies, and due diligence, should have been made since listing eight months ago.
Though NZI has been very quiet, with shells that tends to be a sign that it's busy, and has keeping its cards close to its chest.
"DATE
26.01.22
Time to zero in on Net Zero Infrastructure ?
“…We’ll have something done within the first year of IPO…” ...
Fund managers of the Association of Investment Companies are tipping that renewable energy will be the best performing sector in 2022, and that’s one of the reasons why before September 2022, Net Zero Infrastructure hopes it will have made its proof-of-concept, proof-of-listing investment.
Chairman Mike Elwood is confident his wish to make the first post-listing deal within 12 month’s of IPO will be done.
“I’m looking forward to finding that target that we believe is the right fit for NZI. I’m looking forward to NZI being a real company with a real business and a good purpose behind it.”
He says that the company was established to connect power sources around the grid by making investments into, for example, the entrepreneurial smaller companies with green energy tech capability.
The intelligence about the right fit investee enterprises is coming from within. Elwood credits his shareholders and their own networks as being the conduits who are introducing the ideas and businesses that are ripe for investment at the right stage of development.
One shareholder in particular has confidence. Rupert Labrum has built up a 29% interest in NZI and is responsible for the multiple ‘Holding(s) in Company’ RNS’s that are dominating NZI’s official news feed. Labrum is also the film producer behind the critically acclaimed ‘Let Me Go’ starring Juliet Stevenson, and he’s all about authenticity and true story narratives.
Elwood is aware, and as he explains to Sarah Lowther in this podcast: “Getting the right type of investment is critical to making sure we get the story right for the shareholders.”"
https://total-market-solutions.com/2022/01/net-zero-infrastructure-plc-january-2022/
Poor stock market conditions tend to make it harder to IPO, increasing the attractions of the RTO route, and increasing the bargaining power of shells like NZI.
And meanwhile, the valuations of RTO targets for shells tend to be depressed.
So ironically, the s.p.s of shells like NZI can become depressed at the same time as they are in effect becoming more valuable: more capable of cutting a cracking RTO deal on great terms - i.e. a better shell valuation and lower target valuation, and great quality targets.
NZI should be making great progress towards a potential RTO, and should be updating us very soon.
NZI's current market cap., at 2.1p (down from 2.5p late morning), is just £1.27M.
It raised £1.5M. at 3p when it floated eight months ago.
It could be the cheapest shell on the London Stock Exchange.
15th Sep 2021 7:00 am RNS Admission to the Official List and First Day of Dealings
"Net Zero Infrastructure PLC, a UK company established as a special purpose acquisition company to seek and acquire businesses in the clean energy sector, is pleased to announce that its ordinary shares of £0.01 each have been admitted to the Standard Segment of the Official List and to trading on the Main Market of the London Stock Exchange, following a successful placing of 50,000,000 ordinary shares at £0.03 pence per share raising gross proceeds of £1,500,000, before expenses.
First dealings in the Ordinary Shares are due to commence at 8am today under the ticker symbol “NZI”.
On admission, the Company will have 60,700,000 ordinary shares in issue. ..."
https://www.lse.co.uk/rns/NZI/admission-to-the-official-list-and-first-day-of-dealings-a1bx6vnwsukw7lb.html
“…We’ll have something done within the first year of IPO…”
Podcast interview...
https://total-market-solutions.com/2022/01/net-zero-infrastructure-plc-january-2022/
Added more last week
L
Great research skittish, bring on Monday...
Interesting link up announced on 12-11-2021 at COP26 - SDCL and Rolls Royce to launch "Energy-as-a Service" with SDCL providing the finance and Rolls Royce the nuts and bolts.
https://www.sdclgroup.com/blog/2021/11/12/rolls-royce-and-sdcl-join-forces-to-accelerate-the-take-up-of-sustainable-power-with-launch-of-energy-as-a-service/
The interest here is that Rolls Royce is of course a major UK company, and that Alejandro Ciruelos a director at NZI, is MD Renewable Energy at SDCL.
"Rolls-Royce will work with SDCL and other partners to design, finance, build, commission and operate new projects. SDCL has more than a decade of experience of developing and financing clean and decentralised energy infrastructure projects in the UK, continental Europe, North America and Asia. Rolls-Royce, through its Power Systems business unit, has a portfolio of microgrid systems that bring together renewable energy sources such as solar and windpower with mtu-branded battery storage and gensets (an engine and electrical generator) to ensure reliable power generation. It is currently developing fuel cell systems and making its existing mtu engines compatible with sustainable fuels, paving the way for net zero microgrid solutions within the next two years."
Key words here I think are "other partners" and "net zero microgrid solutions" - opening for NZI?
me, let me go.......light the fuse
So under radar here. 2m cash shell uber cheap when you look at market peers... Big big re rate incoming. Dyor
close to liftoff??
and another buy to start the mornng off with
l...