TNE: 30.4.25 RTO At 264% Premium25 Apr 2025 13:31
Some great news today from TNE (Technologies New Energy), formerly CODX (Codex Acquisitions), a similar shell to ARA:-
25th Apr 2025 11:01 am RNS Approval and Publication of Prospectus
"The Company is pleased to announce that the Prospectus has today been approved by the FCA and published by the Company.
It is expected that Admission will become effective, and that unconditional dealings in the Ordinary Shares on the Main Market of the London Stock Exchange will commence, at 8.00 a.m. on 30 April 2025.
Conditional on Admission, the Enlarged Issued Share Capital shall comprise 158,839,050 Ordinary Shares (in aggregate), 11.6% of which shall be in "public hands".
The estimated market capitalisation of the Company on Admission is £31,767,810 based on the Subscription Price / Reference Price of £0.20.
The Company's LEI is 213800VBVRGDTYL9Y928, and the Ordinary Shares have the ISIN GB00BNVRHQ51, SEDOL code BNVRHQ5 and TIDM "TNE".
About TNE:
TNE is positioned as a global supplier of state-of-the-art solutions and projects to enable a faster energy transition, decarbonisation goals and digital transformation at scale. Its business is formed of three units, which broadly undertake the following activities:
• Consulting for third-party clients on the design and regulatory pathway for renewable energy projects;
• Contracting for third-party clients on the construction and installation of renewable energy projects; and
• Portfolio Management of a proprietary portfolio of Projects based on a TNE-specific hybrid biorefinery technology concept from inception to the RTB stage.
José Meneses, Founder of TNE, said: "Now is the right time for TNE to embark on the next stage of its growth journey by listing on the Main Market of the London Stock Exchange. This is a logical next step for TNE to support our ambitious growth trajectory and enhance our global visibility."
- Ends -
Enquiries:
Technologies New Energy plc
José Meneses
info@tneplc.com
+44 (0)20 8682 0582 / +351 915 126 782
Orrick, Herrington & Sutcliffe (UK) LLP is acting as legal adviser.
For the purposes of UK MAR, the person responsible for arranging release of this Announcement on behalf of the Company is Julio Issac Perez, Non-Executive Director."
https://www.lse.co.uk/rns/TNE/approval-and-publication-of-prospectus-geak89bjb7p7hx0.html
So TNE returning from suspension on Wednesday 30.4.25 with a 20p/share RTO valuation for current TNE shares.
Compared to a current TNE s.p. (suspended) of 5.5p, market cap. £467,500 (8,500,00 shares in issue).
I.e. an increase 'on paper' of over 3.6 times: over 260%.