Mustang Energy To Increase Stake In VRFB-H To Nearly 50%

Mustang Energy PLC – London-based special purpose acquisition company – Says finalisation and review of prospectus by Financial Conduct Authority has commenced. Prospectus concerns Mustang’s share exchange agreement with Acacia Resources Ltd. Mustang intends to increase its stake in VRFB Holdings Ltd to 49.5% through the purchase of Acacia Resource’s 27% stake, as announced in August. VRFB-H is a 50% shareholder in Enerox Holding Ltd, a special purpose vehicle which holds the entire issued share capital of Enerox GmbH, an Austrian-based vanadium redox flow battery manufacturer.

Bushveld Minerals Ltd, the 50.5% majority shareholder of VRFB-H, noted the announcement on Monday.

Current Mustang Energy stock price: Suspended since April 2021

Current Bushveld Minerals stock price: 5.03 pence, up 6.0%

12-month change: down 45%

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