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17 Apr 2023 07:00
17 April 2023
More Acquisitions plc
("More" or the "Company")
Update on Proposed RTO
Further to the announcement on 23 September 2022 regarding the proposed acquisition by More of Megasteel Limited ("Megasteel") (the "RTO" or the "Proposed Acquisition"), the Company is pleased to confirm that preparations for the publication of a prospectus and admission of the enlarged group to trading on the London Stock Exchange are now well advanced.
The Directors of More are also pleased to confirm that the Company and Megasteel are currently undertaking an investor roadshow as part of the Proposed Acquisition.
Rod McIllree, Executive Director of More Acquisitions plc, said:
"We are pleased to report that the RTO is progressing well. We are particularly encouraged by the strong level of interest that has been being shown in Megasteel by the UK investment community to date. We are increasingly confident that shareholders can expect completion of the RTO within this quarter, subject to FCA and other relevant approvals."
Nigel Roberts, CEO of Megasteel Limited, said:
"We are very pleased that we are are now in the final stages of the proposed RTO of Megasteel Ltd by More Acquisitions PLC. I have met with several existing shareholders of More and also potential shareholders and I look forward to concluding the process speedily and successfully."
Enquiries:
More Acquisitions plc
Rod McIllree/ Charles Goodfellow
Peterhouse Capital Limited +44 (0)20 7469 0930
Financial Adviser
Narisha Ragoonanthun/ Guy Miller/ Brefo Gyasi
Broker
Lucy Williams/ Duncan Vasey
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