EARNZ plc Delays Completion of GEM Newco Acquisition
Energy services business EARNZ plc (LSE:EARN) has reported a temporary delay in finalizing its acquisition of GEM Newco Limited. The transaction, which includes the admission of 218,146,725 new ordinary shares to trading, was pushed back as a result of an administrative delay.
The pause means the issue and admission of the new shares will occur alongside the closing of the deal. Shares in the company were trading at 4.75 GBX, up 5.56% following the announcement.
Management now expects the deal to close on or before Oct. 23, 2026, with share admission taking place on the same day. A subsequent announcement will be released once completion is officially confirmed.
Key points
- EARNZ plc delayed the completion of its GEM Newco Limited acquisition due to an administrative delay.
- The deal involves the admission of 218,146,725 new ordinary shares.
- Completion and share admission are expected on or before Oct. 23, 2026.
- EARNZ plc shares were up 5.56% at 4.75 GBX.
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Why was the EARNZ plc acquisition of GEM Newco delayed?
EARNZ plc reported that the completion of the GEM Newco Limited acquisition was delayed due to an administrative issue.
When is the EARNZ plc acquisition expected to complete?
The acquisition and the admission of 218,146,725 new ordinary shares are expected to complete on or before Oct. 23, 2026.
How many new shares is EARNZ plc issuing for the transaction?
EARNZ plc is admitting 218,146,725 new ordinary shares in connection with the deal.