Greenland Energy Company and 80 Mile plc announced on 12 November 2026 a recommended all-share combination that values AIM-listed 80 Mile at about £74m and would consolidate 100% ownership of the Jameson Land Basin licences in Greenland.
Deal terms and financing
80 Mile shareholders will receive 0.0079485 new Greenland Energy shares for each share held, valuing each at 1.28p. The combination will be effected by a court-sanctioned scheme of arrangement; Greenland Energy will also advance a £3m 12-month convertible loan to 80 Mile.
Regulatory approvals and timing
The deal requires approval by Greenland Energy stockholders and 80 Mile shareholders and court sanction, with completion expected in the first half of 2027.
Market context
80 Mile entered an offer period on 8 September 2026 after Greenland Energy, its partner in the Jameson project, made an indicative approach.
