Mustang Energy PLC - London-based special purpose acquisition company - Receives extension to buy 27% stake in VRFB Holdings Ltd.
New deadline for USD10.5 million purchase is October 28.
"The parties to the investment agreement, including [Mustang Energy], have agreed to extend the maturity date until October 28, 2022 to allow for the finalisation of a prospectus and review process of that prospectus by the Financial Conduct Authority in connection with readmission, a process that has commenced," Mustang Energy explains.
VRFB is a 50% shareholder in Enerox Holding Ltd, which is a special purpose vehicle that owns Enerox GmbH, an Austrian vanadium redox flow battery manufacturer.
Current stock price: 30.60 pence, suspended
By Tom Budszus; tombudszus@alliancenews.com
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Mustang Energy (MUST)