Alexander Mining : AIM - Schedule One - Alexander Mining Plc

On 25 September 2019, the Company announced that it intended to dispose of its wholly owned subsidiary, MetaLeach Limited, and make an acquisition which constituted a reverse takeover under Rule 14 of the AIM Rules. On 29 November 2019, the Company announced that it was seeking a suspension of trading in its shares on AIM and was seeking to acquire the entire issued share capital of eLight Group Holdings Limited ('eLight') and, inter alia, undertake a placing, share consolidation, disposal of MetaLeach and change of name to eEnergy Group plc, subject to shareholder approval.

Following Admission, the main countries of operation will be UK and Ireland.

eLight is an 'Energy Efficiency as a Service' Republic of Ireland registered company which provides commercial customers with immediate energy and cost reductions with zero upfront investment by delivering Light-as-a-Service. eLight had revenues of approximately €4.5 million and loss before tax of approximately €1.6 million in the period to 30 June 2019.

eLight has built a strong position in the UK and Ireland, offering customers the ability to switch to LED lighting technology without capital investment, improve the quality of their lighting and reduce their carbon footprint. eLight's service agreements provide customers with a fully maintained solution for the term of the agreement.

The monthly energy savings which are unlocked are more than the monthly service fee, so customers generate immediate positive cash flow in addition to reducing their carbon footprint.

Energy efficiency upgrades are typically capital intensive, which has traditionally acted as a barrier for organisations looking to reduce their energy consumption. eLight removes these barriers with its service agreement-based business model. The market in the EU for energy efficiency services in 2017 was approximately €25 billion and is expected to double by 2025.

eLight can also provide customers with LED lighting installation services under a traditional 'supply and install' service.

eLight's use of performance-insured contracts for its customers and partnerships with providers of project finance in the UK and the Eurozone enables it to generate positive cashflows upon completion of an installation, with no residual credit exposure to the customer under the service agreement.

eLight has secured contracts directly with certain of the world's leading technology manufacturers, bypassing distributors and wholesale channels to ensure a competitive advantage for its projects, and is in negotiations with a leading green and clean technology funding partner to obtain a dedicated fund for its energy service agreements.