RE: UEE IPO cancelled17 Oct 2024 07:11
Noting the cancellation of the cancellation of the IPO, and having no contact details for UEE, I sent the following to the POW’ nomad SP Angel:
Following the recent activities and RNS releases of Power Metal Resources plc, as their Nomad, are you able to shed any light on what consequences this will have on UEE?
As a shareholder in EEU, via my original Teathers holding, and due to the cancellation of the IPO. I, (and probably all the other TEA shareholders) am at a complete loss as to what our position is!!
As a matter of decency, Isn’t it about time we were informed of the consequences?
This query is directed to yourselves, as their Nomad, as I don’t seem to be able to find contact details for UEE.
Any assistance you can provide, would be greatly appreciated.
Here’s their response:
Thank you for your e-mail, which we hereby acknowledge.
Please note that our duties as Nomad are owed to Power Metals Resources plc (“POW”) and the London Stock Exchange, not Uranium Energy Exploration plc (“UEE”) or shareholders of that company. Notwithstanding, we note the announcement made by POW on 3 June 2024, which stated that the IPO of UEE had been aborted and that the conditional sale of POW’s uranium assets to UEE would no longer proceed.
We have passed your query on to UEE, via our contacts at POW, to see if they can assist in any way. However, we believe that it is the responsibility of UEE to inform its own shareholders of the position.
Yours faithfully
SP Angel Corporate Finance LLP
I then received the following email from UEE:
Future of UEE PLC
I refer to your email below, sent to SP Angel.
As you will have noted from their email, POW announced on 3rd June that the proposed UEE IPO was to be aborted and that is indeed the case.
There are other possibilities for UEE involving different assets and a potential re-listing at some point, and we will inform the market of those plans in due course.
Kind regards
Sean Wade
SO WE WAIT AND SEE !!