25 July 2024
i(x) Net Zero
PLC
("i(x) Net Zero" or
the "Company")
Update re
Enphys Acquisition Corp.
i(x) Net Zero PLC (AIM: IX.), the
investing company which focuses on the Energy Transition, announces
that Enphys Acquisition Corp. ("Enphys") has been informed
by The New York Stock Exchange LLC ("NYSE" or
"Exchange") that the staff of NYSE Regulation has determined to
commence proceedings to delist Enphys Acquisition Corp.'s Class A
ordinary shares, par value $0.0001 per share ("Class A Ordinary
Shares"), units, each consisting of one Class A Ordinary Share and
one-half of one redeemable warrant (the "Units"), with each warrant
exercisable for one share of Class A Ordinary Share of Enphys (the
"Warrants"), and Warrants (NYSE ticker symbols NFYS, NFYS.U and
NFYS.WS, respectively) from the NYSE. Trading in these three
securities on the NYSE has been suspended.
NYSE Regulation reached its decision to delist
Enphys's Securities pursuant to Section 802.01B of the NYSE's
Listed Company Manual because Enphys had fallen below the NYSE's
continued listing standard requiring a listed acquisition company
to maintain an average aggregate global market capitalization
attributable to its publicly-held shares over a consecutive 30
trading day period of at least $40,000,000.
Effective as of 25 July 2024, the Class A
Ordinary Shares, Units, and Warrants may be quoted and traded in
the over-the-counter ("OTC") market under the ticker symbols
"NFSCF," "NFSUF," and "NFSWF," respectively.
The Company's equity interest in Enphys remains
unchanged and the Board does not believe that there is any change
to the carrying NAV of Enphys as a result of the NYSE decision to
delist and the Board has continued confidence in the holding and
options for generating a return for shareholders.
For further
information visit https://ixnetzero.com/ or
contact:
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i(x) Net
Zero
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Via Buchanan below
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Pär Lindström - Chief Executive
Officer
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Jonathan Stearns - Chief Financial
Officer
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Canaccord
Genuity Limited
Nominated Adviser &
Broker
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+44 20 7523 8000
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Max Hartley
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Harry Pardoe
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Burson
Buchanan
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Helen Tarbet
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+44 7872 604 453
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Simon Compton
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+44 7979 497 324
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Abby Gilchrist
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+44 7717 480 063
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Notes to
Editors
About i(x) Net Zero PLC
i(x) Net Zero PLC is an AIM quoted
investing company that provides its shareholders
the opportunity to create long-term capital
growth with positive, scalable, measurable and sustainable impact
on the environment and on the communities it serves.
In accordance with its belief that the world's
biggest problems are also the biggest market opportunities, i(x)
Net Zero focuses on two critical areas in which it aims to make a
positive impact: (i) Energy Transition and (ii) Sustainability in
the Built Environment. The Company uses a multi-strategy investment
approach, providing the companies in which it invests with the
expertise and catalytic capital to help them grow. To date, i(x)
Net Zero has invested in biofuels, direct air capture (carbon
removal), renewable energy, sustainable workforce housing and net
zero construction technology.
i(x) Net Zero is a signatory to the UN
Principles for Responsible Investing. The Company has received
the London Stock Exchange's Green Economy Mark.
