Milton Capital Plc focuses on energy sector acquisitions

LONDON - Milton Capital Plc, a Special Purpose Acquisition vehicle (SPAC) targeting the energy sector, reported its audited accounts for the financial year ended January 31, 2025. The company, which is currently in a suspended state on the stock exchange due to ongoing acquisition discussions, has not yet completed a significant transaction.

During the past year, Milton Capital evaluated numerous domestic and international opportunities, eventually entering into an exclusive agreement with Horizon Energy Global Corporation concerning two UK private limited companies. This potential reverse takeover (RTO) transaction, if successful, would lead to Milton Capital seeking admission to trading on AIM, a market operated by the London Stock Exchange (LON:LSEG).

The company extended the exclusivity agreement multiple times, with the latest extension reaching May 31, 2025. As of the time of reporting, Milton Capital continues to work towards fulfilling the conditions precedent for the acquisition.

Milton Capital’s focus on the energy sector stems from the belief that natural gas plays a crucial role in transitioning to a world less dependent on fossil fuels. Despite geopolitical and market challenges, the company remains committed to transforming into a significant player in the energy sector and delivering value to stakeholders.

The financial statements reveal a loss of £372,629 for the year, with net assets amounting to £363,002. The company’s cash and cash equivalents stood at £390,624, and no dividends were distributed for the year. The strategic report indicates that the company’s primary risk is identifying suitable investment opportunities, a challenge heightened by the need for additional funding and the uncertainties of the global financial market.

The company’s corporate governance report highlights its compliance with the Quoted Companies Alliance Corporate Governance Code, adapted to its size and complexity. The report also details the Directors’ experience and skills, emphasizing their collective expertise in the energy sector.

This article is based on a press release statement, providing an overview of Milton Capital’s current position and strategic focus as it navigates the complexities of SPAC operations and potential acquisitions within the energy sector.

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