21st Jun 2024 15:56
Oneiro Energy PLC - London-based special purpose acquisition company focused on energy transition, primarily away from oil - Agrees to acquire the exploration activities of Switch Metals, a Mauritian private investment company focused on battery minerals and technology metals. The acquisition would constitute a reverse takeover under Financial Conduct Authority listing rules. Oneiro will buy Switch's wholly owned Cote d'Ivoire subsidiary which holds several exploration licences and licence applications, as well as the transfer of binding options held by Switch to acquire further licences. Oneiro plans to buy the assets via the issue of shares at 0.85 pence each and pledges to invest USD500,000 into the exploration company. Requests suspension of trading in shares from Friday.
Current stock price: 10.10 pence
12-month change: up 15%
By Jeremy Cutler, Alliance News reporter
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