LONDON – Lift Global Ventures Plc (AQSE:LFT), an investment company with interests in financial media, technology, and energy sectors, has announced an extension of the New Redemption Date for its portfolio company, Trans-Africa Energy Limited (“TAE”). TAE, which focuses on energy infrastructure projects in Sub-Saharan Africa, is currently in discussions with a Southern African state investor regarding a potential investment.
The New Redemption Date, previously set for December 31, 2024, has been pushed back to January 31, 2025. This extension is treated as a related party transaction under AQSE Growth Market Rules due to the involvement of Roy Kelly, the Non-Executive Chairman of Lift, who also serves as a non-executive director of TAE. Kelly, who has been advising TAE since March 2021 and became a director in September 2022, holds no shares or equity in TAE.
Independent (LON:) Directors Zak Mir and Sandy Barblett have reviewed and agreed to the proposal to extend the redemption date. They have concluded that the extension is in the best interests of Lift and its shareholders, confirming the transaction is fair and reasonable after exercising due care, skill, and diligence.
This announcement is considered inside information in accordance with Article 7 of Regulation 596/2014 and reflects the company’s commitment to transparency with its shareholders. The directors of Lift have taken full responsibility for the content of this announcement, which is based on a press release statement.
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