# Path Investments a transformational first half both financially and strategically

- Link: https://www.directorstalkinterviews.com/path-investments-a-transformational-first-half-both-financially-and-strategically/4121025436
- Published: 2021-09-29T07:06:11+01:00
- Author: Giles

**Path Investments plc** ([LON:PAT](https://www.directorstalkinterviews.com/company/panthera-resources-plc/pat.l)
H), the energy investment company, announced today its interim results for the six
months to 30 June 2021.

**Highlights**

| • | Successful equity fundraising in March 2021 | 
| • | Conditional Reverse Takeover of DG Innovate Limited (“DGI”) announced. | 
| • | Loss before tax £736,254 (H1 2020 loss before tax of £163,699) | 
| • | Loss per share 0.04 (H1 2020 loss 0.08 per share) |

**Commenting, Christopher Theis, Chief Executive of Path Investments, said **: ”
The first half of 2021 has been transformational for Path, both financially and 
strategically. We are very excited about our intended acquisition and welcoming 
the DGI business with its sustainable global energy technologies into Path.” 

The strategy of the Company is focused on delivering a material acquisition in the
energy sector with the objective of providing the Company’s shareholders with access
to a low risk and, over time, diversified portfolio which can offer a dividend stream
as well as offering development potential for capital growth.

Chairman’s Report

In March 2021 the Company was delighted to receive the welcome support of new shareholders
and certain existing holders in a fund raising with gross proceeds of £3.87 million
received to accelerate the Company’s investment strategy. We said at the time that
we were focussed on one opportunity and anticipated updating shareholders in due
course.

Post the accounting period on 13th August 2021 we announced our conditional agreement
to acquire DG Innovate Limited for £32 million to be satisfied by the issue of 5,342,051,305
Path Ordinary Shares of £0.001 each (“Path Shares”) at an issue price of 0.6 pence
per Path Share, which compares favourably with the suspension price of 0.27 per 
Path share.

Further details of the transaction are contained on our website [https://www.pathinvestmentsplc.com/proposed-acquisition-of-dg-innovate/](https://www.pathinvestmentsplc.com/proposed-acquisition-of-dg-innovate/)

As part of the acquisition of DGI, and post the accounting period, Path provided
from its cash resources a secured loan facility to DGI of £600,000.  The facility
was made available in two tranches, both of which have now been released to DGI.

Work is progressing towards completion of the proposed transaction which constitutes
a reverse takeover under the Listing Rules, as it will result in a fundamental change
in the business of the Company. We are making good progress on finalising the necessary
prospectus and shareholder documentation and we expect to be submitting it shortly
for FCA approval.

The transaction is also subject to waiver of Rule 9 of the Takeover Code by the 
Takeover Panel and therefore the approval of Path’s independent shareholders at 
a General Meeting which will be convened for the purpose.

We look forward to updating shareholders further as we move towards completion of
our transaction.

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