SRJ Technologies receives clearance for ACE acquisition

SRJ Technologies Group Plc (ASX: $SRJ) has received clearance under the National Security and Investment Act 2021 (UK) to proceed with the proposed acquisition of Air Control Entech Limited (ACE) as announced on 24 July 2024. The acquisition remains subject to other customary conditions including SRJ obtaining the required shareholder approvals for the capital raising and issue of the scrip consideration in connection with the acquisition, with such shareholder approvals being sought at the Company's Annual General Meeting on 13 August 2024.

Executive Commentary on ACE acquisition clearance

We are pleased to have received clearance under the National Security and Investment Act 2021 (UK) to proceed with the proposed acquisition of Air Control Entech Limited (ACE). This is a significant step forward for SRJ Technologies as we continue to progress towards the completion of the acquisition. The clearance under the NSI Act was one of the key conditions precedent, and we are now focused on obtaining the required shareholder approvals for the capital raising and issue of the scrip consideration. We look forward to seeking these approvals at our upcoming Annual General Meeting on 13 August 2024.

Summary of SRJ Technologies' ACE acquisition clearance

SRJ Technologies (ASX: $SRJ) has successfully received clearance under the National Security and Investment Act 2021 (UK) to proceed with the proposed acquisition of Air Control Entech Limited (ACE). The company is now moving forward with the acquisition, subject to obtaining the required shareholder approvals for the capital raising and issue of the scrip consideration. SRJ Technologies remains committed to enhancing its range of asset integrity consulting services and providing industry-accredited products to maintain and assure the integrity of pressure containment systems. The upcoming Annual General Meeting on 13 August 2024 will be a crucial event where the shareholder approvals for the acquisition will be sought, marking an important milestone in SRJ's corporate strategy.