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Metlen Energy & Metals PLC on Tuesday reported the success of a tender exchange offer ahead of listing in London and Athens. The Maroussi, Greece-based company operates in the energy and metallurgy mining sectors, and is marketing itself as an environmentally-focused ‘green utility’ business. Back in June, the company submitted a voluntary tender exchange offer for all shares of Metlen SA which it did not already hold. Approximately 90% of Metlen SA shares were validly tendered when the acceptance period ended on Friday, the firm said. This included 30.9 million shares held by Chair Evangelos Mytilineos and his companies Frezia Ltd, Kilteo Ltd and Melvet Investments Ltd. Metlen plans to use its right of squeeze-out, which requires holders of the remaining 14.1 million Metlen SA shares to exchange their shares either for new Metlen shares or €39.62 in cash per share. Besides meeting the 90% tender threshold, Metlen said it has satisfied a minimum 10% free float requirement, with final approval subject to a shareholder statement confirming this upon admission. Tendered share transfers are set to begin on Tuesday, and Metlen is due to begin trading in both London and Athens on August 4. The company expects to join the FTSE UK Index Series in September. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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