Megasteel LTD signed conditional Heads of Terms to acquire More Acquisitions Plc (LSE:TMOR) in a Reverse merger for £28 million on September 23, 2022. Megasteel LTD will pay 2.8 billion new shares at a price 2.25 pence. The Proposed Acquisition remains subject, amongst other things, to completion of customary due diligence. Narisha Ragoonanthun, Brefo Gyasi and Guy Miller of Peterhouse Capital Limited acted as financial advisor to More Acquisitions Plc.

Megasteel LTD cancelled the acquisition of More Acquisitions Plc (LSE:TMOR) in a Reverse merger on May 24, 2023.