Member Info for Bella6532

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in July 2019.

Suspension and Application for Listing

The Acquisition will constitute a Reverse Takeover under the Listing Rules since it will, amongst other things, result in a fundamental change in the business of the Company.

Accordingly, the Company has requested the suspension of the listing of its shares on the Standard Segment of the Official List, and trading on the Main Market has been suspended with effect from 7:30 a.m. today, pending the publication of a prospectus and the application by the Company to have its enlarged share capital listed on the Standard Segment of the Official List and admitted to trading on the Main Market.

The Company will provide further update on the Acquisition in due course.

Dean Gallegos, the Managing Director of Mustang Energy, said: "The chance to participate in Enerox represents an exciting opportunity for our stakeholders, thanks to Enerox's research and development initiatives in the energy storage sector, and its state-of-the-art vanadium-based technology. We are delighted to have reached this agreement with the principals involved and look forward to working with them to conclude an RTO which we believe will be value-enhancing for our stakeholders to participate in and have exposure to a much-needed solution within the green energy field. The board will continue to explore further investments in the energy storage value chain and renewable energy projects development space in line with its recently articulated strategy."

ENQUIRIES

For further information, please visit www.mustangplc.com, follow us on Twitter @Mustang_Plc, or contact:

Mustang Energy PLC

Dean Gallegos, Managing Director

dg@mustangplc.com

+61 416 220 007

Page 2
(a) the approval of its shareholders of the MUST Capital Raise ("Shareholder Approval"); and (b) the publication of a prospectus by MUST and readmission of MUST to listing and trading ("Readmission"); as required given that the Acquisition constitutes a reverse takeover ("RTO") under the Financial Conduct Authority's Listing Rules. The CLNs attract interest at a rate of 10 per cent. per annum, and can be satisfied at the time of conversion in cash or in shares of the capital of the Company (at the election of the Company). The CLN holders will receive warrants to subscribe for new shares in the capital of MUST (one warrant being issued for every two MUST Conversion Shares held), exercisable at a price per share of 30 pence ("Warrants"). The Warrants have an expiry period of three years from the Conversion Date.

· The difference between the principal amount raised by the issue of the CLNs and the MUST Capital Raise will be used to pay fees associated with the MUST Capital Raise and for additional working capital of the Company. The lead investors of the CLNs are Acacia, the Company's largest shareholder, and AIM-quoted investing company Primorus Investments plc (together, the "Lead Investors").

· In circumstances where Readmission does not take place by 31 December 2021, BMN has agreed to issue new ordinary shares in its capital ("BMN Shares") to Noteholders in respect of the principal amount and accrued interest under the CLNs (the "Backstop") in return for MUST: (i) transferring to BEL all of MUST's shares in VRFB-H; and (ii) paying a fee to BMN of an amount equal to 5 per cent. of the MUST Capital Raise (including both principal and interest), to be satisfied by the issue of new ordinary shares in the capital of the Company at a price of 20 pence per share (the "Backstop Fee"). In consideration of BMN providing the Backstop, the Backstop Fee is payable in the event of Readmission not occurring by the aforesaid date or immediately prior to completion of Readmission. Each of the Lead Investors have the sole discretion to elect not to receive BMN Shares and instead receive shares directly in the capital of VRFB-H.

The Directors are pleased to report that the Acquisition will represent an investment in the energy sector, a sector which was contemplated at the time of the Company's original IPO in July 2019.

Tue, 27th Apr 2021 07:31

RNS Number : 7033W
Mustang Energy PLC
27 April 2021

Tuesday 27 April, 2021

Mustang Energy PLC





Mustang Energy PLC

Acquisition and Suspension of Listing

The Directors of MUST are pleased to inform shareholders that MUST has entered into a legally binding investment agreement with VRFB Holdings Limited ("VRFB-H"), its existing shareholders and Bushveld Minerals Limited ("BMN"), pursuant to which MUST has subscribed for shares constituting a 22.10 per cent. interest in the issued share capital of VRFB-H (the "Acquisition").

VRFB-H is a 50 per cent. shareholder in Enerox Holding Limited ("EHL"). BMN's 84 per cent.-owned energy subsidiary, Bushveld Energy Limited ("BEL"), is VRFB-H's majority shareholder, holding 50.5 per cent. of its issued share capital. EHL is a special purpose vehicle which holds the entire issued share capital of Enerox GmbH ("Enerox"), an Austrian-based vanadium redox flow battery ("VRFB") manufacturer. Enerox has invested more than 20 years of research and development into its CellCube energy storage system. Its vanadium-based technology is known to be state-of-the-art in the battery market and has already deployed more than 130 systems / 23 MWh across 5 continents.

The Acquisition represents the entry by the Company into the high-growth stationary battery market.

Some background details to the Acquisition are as follows:

· As announced by BMN on 1 April 2021, the board of EHL resolved to raise US$30 million from its shareholders in the form of equity through an issuance of new EHL shares for cash ("EHL Capital Raise").

· The EHL Capital Raise is intended to fund growth capital required to scale up its vrfb production capacity to 30MW (120-240MWh) in annual production capacity by 2022 as its pipeline grows, with additional growth aspirations thereafter.

· MUST has invested approximately US$7.5 million alongside an investment by BEL of approximately US$7.7 million for an aggregate sum of approximately US$15.2 million in support of VRFB-H's funding commitment into EHL of US$15 million in connection with the EHL Capital Raise. On 31 March 2021, BEL invested US$5 million of its contribution, with the remaining balance having been paid on 26 April 2021.

· MUST has funded its investment into VRFB-H by the issue of US$8,000,000 10 per cent. unsecured convertible loan notes ("CLNs") to certain investors ("CLN holders"), including its 24.03% shareholder Acacia, ("MUST Capital Raise"). The CLNs shall be convertible into shares in the capital of the Company, calculated by dividing the nominal value (and accrued interest, if applicable) of the CLNs (using the average US$/GBP£ closing exchange rate as shown on Bloomberg over the five trading days prior to conversion) by 20 pence ("MUST Conversion Shares"), by no later than 31 December 2021 (such date of conversion being the "Conversion Date"), following: cont...

Funny that...broker exercises 7m warrant shares which were due for admission yesterday...I wonder how many were pre-sold pending today's news...crafty littlecdo and sos.

OK to simply summerize...
BMN debts with Invinity and Enerox paid off with some profit realised.
VRFB-H now in an RTO with Mustang Energy (MUST) a shell company which currently has a London main market listing.
Now will VRFB-H simply take the Mustang Energy name with Enerox being a wholly owned sub or will there be a name change?
Interesting times...and it will make VRFB-H (or whatever it ends up being called) an open market investable entity especially Energy Funds...

Great explanation by BBN...and the bottom line us the fact its a RTO and VRFB-H will become a UK main market listed company won't they or will the Enerox name be used...???

'The Mustang Capital Raise, and the concurrent acquisition by Mustang of shares in the capital of VRFB-H, constitutes a reverse takeover under the Financial Conduct Authority's Listing Rules and will require the publication of a prospectus and readmission of Mustang to trading by no later than 31 December 2021'

Sorry should read ODX just tweeted..
'Oh, and by the way, that VISITECTRegistered sign-branded Mologic COVID-19 Lateral Flow Antigen Test?
It's launching *soon* Rocket'

OmG just tweeted
'Oh, and by the way, that VISITECTRegistered sign-branded Mologic COVID-19 Lateral Flow Antigen Test?
It's launching *soon* Rocket'

But they could all change in a nano...

Short Term Mid-Term Long Term
Trend Bearish Bullish Bullish
Resistance 56 272 63 434 61 523
Spread/Res. -3,1% -14% -11%
Spread/Supp. 11% 80% 131%
Support 48 947 30 231 23 622

Now this is mainstream....

'Australian used car company CarBuyers.com.au has announced that it will pay for customer’s cars in bitcoin if they choose this option instead of cash.
In every state and territory in Australia, just fill out a contact form, have a vehicle inspection arranged, receive an offer, and then indicate that you want to be paid in bitcoin – you will receive bitcoin to your chosen wallet address on the same day. '

Technowiz...I posted the following a couple of days ago..it looks like the pattern is holding up...options are a big factor...

BTC Ups and Downs...23 Apr 2021 08:37
22 Feb to 28 Feb = down
14 Mar to 25 Mar = down
14 Apr to 23 Apr = down

1 Mar to 13 Mar = Up
26 Mar to 13 Apr = Up
26 Apr to 13 May = ?????

https://jeangalea.com/buy-bitcoin-now/
An interesting read especially concerning the upcoming Transfer of Wealth which I don't think has ever been mentioned...

'wouldn’t Avacta have had to RNS this development at the same time as NCYT? After all, it was financially material to both stocks on Friday.'
If NCYT is classed as a manufacturer then perhaps they did when they referred to 'others'...enough to satisfy the markets but not break Non-disclosure...
Personally I would be extremely surprised if NCYT launches an affimer LFT but if they do that would be huge...going to keep everything crossed just in case...

https://www.swlondoner.co.uk/news/19042021-why-defi-crypto-here-to-stay/

Avacta have said all along they are going to licence out their technology.
Avacta affimers will be in many other products not just LFTs and that's where the real money will come from eventually.
What about water testing, lab testing etc etc...this isn't just about Covid...we already have partners working with our Affimers who are developing all sorts other uses...

I do however think it's a tad pre-emptive to try to guess income levels...but hey what else is there to do on a Saturday....

Ndn71...passporting will happen because it will be a demand made of UK travellers by other countries not a demand made by the UK Govt who will be obliged to offer the facility.
Long covid and vaccine intolerance will be next two issues.
Afraid testing is here to stay and Govts will have to start passing cost burden onto private enterprise and consumers.
There is no more normal...

BTC has turned...now in upward trend...

0134...this investing business is all about guess work and looking for clues so I think your analysis of that post is as good as any I've heard today...
If it's not on 7th...then hey ho it was just a giggle making post.
If it is on 7th...then you'll be classed as a true clue reading genius...a BB A Lister...