Fandango Holdings Plc executed non-binding Heads of Terms to acquire European Battery Metals Pty Ltd on June 22, 2023. The acquisition is subject, inter alia, to the completion of due diligence, documentation, and compliance with all regulatory requirements, including the Listing and Prospectus Rules and as required, the Takeover Code. The Acquisition, if it proceeds, will constitute a Reverse Takeover under the Listing Rules since, inter alia, in substance it will result in a fundamental change in the business of the issuer.

As of September 6, 2023, Fandango has issued Convertible Loan Notes to certain investors in the nominal amount of £0.35 million the proceeds of which will be used to advance the previously announced proposed acquisition of European Battery Metals.