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Net Zero Infrastructure PLC - special purpose acquisition company focused on renewable or clean energy technology companies - Mutually terminates agreement to buy the entire share capital of LINE Hydrogen (Australia) Pty Ltd, with immediate effect. Says the reason for the termination was lack of available funding "given the current market conditions".
Says it is "actively considering" another acquisition opportunity in a different sector of the market, which would constitute a reverse takeover. Non-binding heads of terms are currently being negotiated. However, as there is no guarantee this will be signed, requests that shares remain suspended for the time being.
Net Zero infrastructure shares are currently suspended from trading.
By Holly Beveridge, Alliance News reporter
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