Listing follows business combination of Global InterConnection Group SA and Disruptive Capital Acquisition Company Limited (DCAC)
Amsterdam – 7 July 2023 – Euronext today congratulates Global InterConnection Group, a UK-based firm, on its listing on Euronext Amsterdam (ticker code: CABLE).
The listing of Global InterConnection Group is the result of the business combination of Global InterConnection Group SA and Disruptive Capital Acquisition Company Limited (DCAC). The business combination resulted in DCAC acquiring 100% of the issued and outstanding share capital of Global InterConnection Group SA together with the benefit of certain shareholder payables: (i) the issue and/or transfer from treasury of 14,500,256 DCAC Ordinary Shares, (ii) a Refundable Advance and (iii) the transfer of the 2028 Greenbonds in respect of Advanced Cables Limited.
Global InterConnection Group, comprising Global InterConnection Group Limited and its subsidiaries, is a platform for the manufacturing, development, operation and ownership of interconnectors and other power transmission assets.
Interconnectors are power cables connecting different countries' electricity grids, as a means of improving grid efficiency and expediting the transmission of energy internationally from where it is generated to where it is needed. As the world transitions towards a Net Zero future, ever-growing electricity demand and increased dependence on intermittent power sources requires grids that are strong, flexible, and interconnected. The world needs to move power from where it is being generated to where it is needed.
DCAC is a special purpose acquisition company ("SPAC") incorporated on 29 April 2021 under the Companies (Guernsey) Law, 2008 (as amended), as a non-cellular company limited by shares.
Edmund Truell, Executive Chairman at Global InterConnection Group, commented:“We are delighted to have listed Global InterConnection Group on Euronext. Armed with the greater profile and access to capital markets afforded by a listing, we believe we are well-positioned to execute on our strategy to build Global InterConnection Group into a world-leading interconnection player. Governments and grid operators are realising that international grid interconnectivity is essential to both energy security and energy transition, and Global InterConnection Group plans to facilitate it through the provision of high voltage cable, capital, and expertise. The team, standing on the shoulders of our expert partners, have overseen the planning, construction and operations of virtually all of the European interconnectors in the last decade."
He added: “Interconnectors are already key to keeping the lights on; to efficient energy usage; and indeed storage. For example, surplus intermittent wind power can be exported from the UK to Norway to generate pumped storage hydro-electric ‘clean batteries’. At scale and with less energy loss than batteries or via current hydrogen technologies when the wind is not blowing in the North Sea, the hydro power can be sent back to the UK, topped up by either French nuclear power or Irish wind.”
Caption: Edmund Truell, Executive Chairman of Global InterConnection Group, and his team sounded the Gong this morning to celebrate the listing of the company on Euronext Amsterdam. They were joined by Simone Huis in ’t Veld, CEO of Euronext Amsterdam, and Rene René van Vlerken, Head of Listing Euronext Amsterdam, during the gong ceremony.
About Global InterConnection Group Global InterConnection Group (“GIG”), comprising Global InterConnection Group Limited and its subsidiaries, is a platform for the manufacturing, development, operation, and ownership of interconnectors and other power transmission assets, with three interlocking divisions: (i) a portfolio of interconnector operating assets and projects; (ii) High Voltage Direct Current ("HVDC") cable manufacturing to supply grid upgrades and our interconnector projects, and (iii) ancillary services, such as commissioning and overseeing the design, planning and operational management for grids and interconnectors. Interconnectors are power cables connecting different countries' electricity grids, as a means of improving energy security by expediting the transmission of energy internationally from where it is generated to where it is needed.
About Disruptive Capital Acquisition Company Limited (DCAC) DCAC is a special purpose acquisition company incorporated on 29 April 2021 under the Companies (Guernsey) Law, 2008 (as amended), as a non-cellular company limited by shares. The DCAC Ordinary Shares and DCAC Warrants were listed and traded on Euronext Amsterdam under the ISIN GG00BMB5XZ39 and symbol DCACS for the DCAC Ordinary Shares and ISIN GG00BMB5XY22 and symbol DCACW for the DCAC Warrants.