Net Zero Infrastructure PLC said on Tuesday its shareholders had approved a plan to issue up to £642.75m in new shares, granting the company authority to allot additional equity capital without pre-emption rights.
At a general meeting convened earlier in the day, all resolutions were passed on a poll with 100% approval, according to the company’s filing. The authority to issue new shares was backed by 18,991,061 votes in favor and none against, while a separate resolution to disapply pre-emption rights also secured unanimous support.
The London-listed special purpose acquisition company, which targets environmentally sound infrastructure projects internationally, said the resolutions provide flexibility to raise capital for prospective acquisitions. The move follows the company’s existing share capital structure, which stood at 85.7m ordinary shares in issue as of the record date for voting eligibility.
The company did not disclose a timeline for any potential issuance or specify the intended use of proceeds beyond general corporate purposes related to its acquisition strategy.
