Two Shields Investments plc, the AIM quoted investment company with a strategy to build a high quality portfolio of investments in fast growing and scalable digital and technology enabled businesses, is pleased to announce that completion has taken place in relation to the sale of its interest in its Lithium Assets to Leopard Lithium Pty Ltd (“Leopard Lithium”).
As announced on 27 August 2019, TSI signed binding heads of agreement (“Heads of Agreement”) with Leopard Lithium, an Australia registered private company, to sell TSI’s interests in Nashwan Holdings Ltd (“Nashwan”) and Mansa Lithium Inc(“Mansa”).
The two binding Heads of Agreement set out the terms upon which Leopard Lithium agreed to acquire 100% of the issued shares in both Nashwan and Mansa (the “Transactions”). The full details of the Transactions are set out in the announcement of 27 August 2019.
The board of TSI is pleased to confirm that completion of the sale of Nashwan and Mansa has taken place, and that TSI now holds a total of 531 shares in Leopard Lithium, which represents approximately 26.5% of Leopard Lithium’s share capital.
Chairman of TSI, Andrew Lawley, said:
“Completion of the sale of the Mali located lithium assets represents further progress from the TSI Board in delivering on its stated strategy of divesting its legacy commodity-based assets as we seek to focus our attention and resources on our high growth potential tech opportunities. We look forward to reporting further progress by Leopard Lithium on the development of the lithium licences and on further developments in our other commodities based interests. We remain strongly of the opinion that this course of action will ensure the best possible outcome for TSI shareholders in relation to these assets.”
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (eu) 596/2014.
Defined terms used above have the same meaning as set out in the 27 August 2019 announcement
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