Ridgecrest plc (AIM:RDGC) entered into non-binding heads of agreement Galápagos Cable Systems GACASYS SA on December 7, 2023. Completion of an acquisition of GCS by Ridgecrest and a listing on the London Stock Exchange will be subject to, inter alia, due diligence, GCS securing funding, entering into a binding sale and purchase agreement and satisfaction of regulatory processes in connection with the rules of the London Stock Exchange and the Takeover Panel.

Nick Naylor and Liz Kirchner of Allenby Capital Limited acted as financial advisor to Ridgecrest.