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Heramba Electric plc Announces Receipt of Notice from Nasdaq Regarding Delisting

1. Heramba acquired significant equity interests in Kiepe Electric GmbH. 2. Business combination announced strengthens Heramba's position in the market.

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Why Bullish?

The acquisition enhances Heramba's market foothold, potentially increasing investor confidence. Historical examples show acquisitions often lead to positive stock performance in the short term.

How important is it?

The strategic acquisition may lead to increased revenues and market share, directly influencing PITA's performance.

Why Short Term?

Immediate market reactions are likely, fueled by potential operational synergies. Historical data indicates quick positive stock movements post-acquisition announcements.

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HERBKIEP
DÜSSELDORF, GERMANY, ATLANTA, GA, AND NEW YORK, NY / ACCESS Newswire / April 28, 2025 / As previously disclosed, and pursuant to the terms and conditions set forth in the Share Purchase Agreement, dated as of July 25 and 26, 2023, by and among Heramba GmbH ("Heramba"), Heramba Holdings, Inc. ("Heramba Holdings"), Knorr-Bremse Systeme für Schienenfahrzeuge GmbH ("KB GmbH") and Knorr-Brake Holding Corporation ("KB US"), as amended pursuant to the Amendment Agreement to Share Purchase Agreement, dated as of January 31, 2024, on February 6, 2024, (i) KB GmbH, as sole shareholder of Kiepe Electric GmbH, sold and transferred 85% of the equity interests in Kiepe GmbH, as well as certain receivables and shareholder loans, to Heramba, and (ii) KB US, as the sole member of Kiepe Electric LLC ("Kiepe US" and together with Kiepe GmbH, "Kiepe"), sold and transferred all ownership interests in Kiepe US, as well as certain receivables, to Heramba Holdings. As previously disclosed, and pursuant to the terms and conditions set forth in the Business Combination Agreement, dated as of October 2, 2023, by and among Project Energy Reimagined Acquisition Corp., Heramba Electric plc, Heramba Merger Corp., Heramba Limited and Heramba, effective as of July 26, 2024, the business combination contemplated by the Business Combination Agreement was consummated resulting in, among other matters, each of Heramba, Heramba Holdings, Kiepe GmbH and Kiepe US becoming direct or indirect subsidiaries of the Company.

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