LONDON: Codex Acquisitions plc (LSE: CODX) has signed an agreement to acquire Technologies New Energy S.A. (TNE), a Portuguese renewable energy company, for £28 million.
The deal will be settled through the issuance of new ordinary shares, conditional upon the listing of the enlarged share capital on the equity shares transition category of the Official List of the Financial Conduct Authority and trading on the London Stock Exchange’s main market.
The agreement includes a long stop date of February 28, 2025, which may be extended by mutual agreement. Codex has also amended its financial advisory agreement with Codex Capital Partners Limited, agreeing to pay a transaction success fee of £107,000 plus VAT 12 months after the listing.
Codex continues to engage with the FCA for approval of its prospectus and eligibility for listing. The company plans to proceed swiftly towards the listing but notes that there is no certainty it will occur or that the acquisition will be completed.
Before the listing, Codex will change its name, logo, TIDM, and website, with details to be announced later. The company’s LEI, and the ordinary shares’ ISIN and SEDOL code will remain unchanged.
Julio Perez, Non-Executive Director of Codex, stated, “We are excited to announce the execution of the acquisition agreement, marking a critical milestone in TNE’s listing on the London Stock Exchange. We are committed to finalizing this transaction and look forward to our collaboration with TNE.”
Ricardo Eiras, CTO of TNE, added, “TNE remains fully committed to completing this transaction with Codex and values their consistent cooperation and support throughout this process.”