Stranger Holdings PLC Corporate Update (7564T)
March 22 2023 - 3:00AM
UK Regulatory
TIDMSTHP
RNS Number : 7564T
Stranger Holdings PLC
22 March 2023
22 March 2023
STRANGER HOLDINGS PLC
("Stranger" or the "Company")
Corporate Update
Stranger Holdings plc (LSE:STHP) is pleased to provide an update
on corporate activities as it advances the reverse-take-over
('RTO') of the Company by Mayflower Energy Metals Ltd ('MEML') and
its acquisition of the Henkries Uranium Project ('Henkries' or 'the
Project') in South Africa.
The MEML RTO transaction continues to progress, with the
Prospectus relating to the transaction expected to be approved by
the FCA in April and re-admission to the London Stock Exchange
likely to take place in late Q2 2023 under the Company's new name,
Neo Energy Metals (ticker: NEO). Accordingly, the Prospectus will
be published ahead of a General Meeting to approve the RTO
transaction; a General Meeting circular is currently being prepared
for shareholders.
At re-admission, Jason Brewer will be appointed as Executive
Chairman to spearhead the growth of the Company. Jason is a senior
mining executive with over 25 years' experience in international
mining, financial markets, and investment banking and with a
particular focus on developing mining projects in Africa. His
current directorships include CEO of Marula Mining PLC, an African
focused battery metals investment and exploration company with
interests in several high value mine projects in Africa.
In line with the positive outlook for uranium driven by the
ongoing energy crisis and the urgent need to reach NetZero by 2050,
the Company remains confident in its new strategy to focus on
investing in uranium exploration and development projects. The
Company is therefore pleased to have secured its interest in
Henkries, where work continues on optimising the Project's planned
development path, and where following re-admission, the Company
aims to quickly complete additional metallurgical testwork and
development focused shallow drilling programme to support an
accelerated development timetable for production. Furthermore,
several other advanced uranium acquisition targets have been
identified to support the Company's expansion strategy.
Stranger Chairman and CFO, James Longley, said: "We are
delighted with the progress being made toward completing the RTO
and look forward to advancing the initial project, Henkries,
towards production. This is particularly exciting given the clear
potential for growth in nuclear power and uranium exploration and
mining as highlighted by the IEA, which suggested that nuclear
power production will have to increase 80% by 2040 to reach global
decarbonisation targets."
* * ENDS * *
For further information visit www.strangerholdingsplc.co.uk or
contact the following:
Stranger Holdings James Longley info@strangerholdingsplc.com
plc
St Brides Partners Financial PR stranger@stbridespartners.co.uk
Ltd
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END
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