Majestic Corporation - Completes Acquisition and change of Auditor

6 May 2025

Majestic Corporation Plc

(the "Company" or "Majestic")

Completes the Acquisition of Telecycle Europe Limited

and change of Auditor

Majestic Corporation Plc (AQSE: MCJ), a sustainable circular economy solutions provider specialising in recycling precious and non-ferrous metals, is pleased to announce the successful completion of its Share Purchase Agreement ("SPA") to acquire the entire issued share capital of Telecycle Europe Limited ("Telecycle") (the "Acquisition").

This strategic Acquisition follows the conditional SPA announced on 3 September 2024, with all conditions now satisfied. The total consideration of £2 million will be paid in 13 monthly instalments of £150,000, commencing in May 2025, with a final payment of £50,000 due in June 2026.

Telecycle, is a profitable UK-based recycling business, has an established and trusted supply network within the UK and has acted as a tolling agent for Majestic. The Acquisition strengthens Majestic's position by securing  the steady supply of recyclable material, expands its network of suppliers and customers, and eliminates any perceived conflicts of interest

Telecycle provides Majestic with a fully licensed and ISO-certified facility in Deeside Wales which includes an e-waste and collection, sorting, processing, and shipping operations. The benefits will include the streamlining of consolidated financial statements and potentially improved margins overall.

Related Party Transaction

As Peter Lai is a Director of Majestic, as well as a Director and the sole shareholder of Telecycle, this Acquisition is considered a related party transaction under the Aquis Stock Exchange Rules. The Board of Directors of Majestic (excluding Peter Lai) have confirmed the completion of this SPA to be fair and reasonable for Majestic's shareholders and an accretive acquisition for Majestic.

Given the nature of the related party relationship, Majestic and Telecycle have been working harmoniously for over 3 years and this transaction completes and formalises the corporate structure of Majestic.

Change of Auditor

Separately, the Company announces it has appointed RPG Crouch Chapman as its auditors and, as announced on 24 March 2025, anticipates  publishing its FTY24 audited results by 30 May 2025.

Joe Lee, Director and CFO of Majestic Corporation Plc, commented:

"I am delighted that the Acquisition has been successfully completed which marks a significant step forward for Majestic. This transaction not only enhances Majestic's operational efficiency but also positions the Company for sustained future growth."

For further information, please visit www.majestic-corp.com, or contact:

About Majestic Corporation PLC

Majestic Corporation PLC is an emerging leader in sustainable circular economy solutions, specialising in recycling and recovering precious and base metals from everyday materials such as electronics, catalytic converters, and solar and battery materials. The company serves some of the world's largest brands, including Original Equipment Manufacturers (OEMs), blue-chip multinational corporations, financial and leasing businesses, and state and federal governments.

Through its subsidiaries and affiliate companies in strategically located regions, including Europe, North America, and Asia (ex. China), Majestic procures, processes, and ships e-waste to smelter and refinery partners who extract precious and base metals for re-entry into global supply chains.

Majestic and its network's areas of focus include catalytic converters, printed circuit boards, solar panels, battery materials, precious metals recovery, and non-ferrous metals.

As Majestic continues to expand its footprint as a circular economy solutions provider, it remains committed to making a positive environmental impact, adhering to ESG values, and driving its business model through immediate and short-cycle cash flow, which strengthens the Company's performance and sustainability.