SIMEC Atlantis Energy Limited Launch of Bond (9749H)
August 06 2019 - 2:00AM
UK Regulatory
TIDMSAE
RNS Number : 9749H
SIMEC Atlantis Energy Limited
06 August 2019
06 August 2019
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR
IN OR INTO ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION,
DISTRIBUTION OR RELEASE WOULD BE RESTRICTED BY ANY APPLICABLE
LAW.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
FORM PART OF AN OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY,
SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY SECURITIES IN ANY
JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE
UNLAWFUL.
SIMEC Atlantis Energy Limited
("Atlantis" or the "Company")
Launch of Bond
SIMEC Atlantis Energy, the global developer, owner and operator
of sustainable energy projects, is pleased to announce the formal
launch, through Abundance Investment Limited, the provider of a
regulated ethical peer-to-peer investment platform, of a proposed
five-year bond offer maturing 2024. The bond has a coupon of 8%,
payable semi-annually. The bond offer seeks to raise a maximum of
GBP7 million, with no minimum threshold. The offer is expected to
close on or before 31 October 2019, and this date may be extended
by up to 3 months at the Company's discretion.
Subject to completion of the bond offer, the proceeds of the
issue will be used to progress and accelerate the development of
opportunities in the Atlantis project pipeline, including funding
the remaining development activities for the Uskmouth power station
conversion project and consenting and engineering studies for the
proposed Raz Blanchard tidal power project, and to provide general
working capital to be used in the development of the Atlantis
group's business and project portfolio. The issuing entity is a
wholly owned UK based subsidiary of the Company, and the bonds,
which are unsecured, will benefit from a parent company guarantee
from Atlantis. The bonds will have substantially the same terms as
the GBP5 million 8% bonds due 2022 and the GBP5 million 8% bonds
due 2023 issued, respectively, via the Abundance platform in July
2017 and in 2018.
Tim Cornelius, CEO, SIMEC Atlantis Energy Limited, said:
"As we create a global, diversified renewable energy platform,
this bond offer represents a chance for investors to help Atlantis
to grow and share in our future financial success. The bonds will
help us continue work on amazing and world leading projects such as
the Uskmouth power station conversion. These bonds will help us
towards our ambition of becoming one of the largest and most
diversified renewable energy companies on the London Stock
Exchange."
Bruce Davis, co-founder and joint Managing Director, Abundance,
said:
"At this time of great political upheaval and climate emergency,
now is the time to turn words into actions. Atlantis is one of the
most dynamic energy development companies in the world, so we're
proud to be backing it as it helps lead the UK to a Net Zero
future.
"Abundance investors have been at the forefront of supporting
the low-carbon transition and we expect our customers - drawn from
ordinary people throughout the UK - to embrace this opportunity to
build on the success of our two previous green bonds for Atlantis,
with this third offer, our biggest for them so far."
Market Abuse Regulation
The information contained in this announcement is inside
information under the Market Abuse Regulation (EU) No 596 / 2014.
The person responsible for arranging the release of this
announcement on behalf of Atlantis is Tim Cornelius, Chief
Executive Officer of Atlantis.
Enquiries:
SIMEC Atlantis Energy via FTI Consulting
Tim Cornelius, Chief Executive Officer
Andrew Dagley, Chief Financial Officer
FTI Consulting +44 (0)20 3727 1000
Ben Brewerton
Alex Beagley
James Styles
Abundance Investment
Louise Wilson
Ainsley Barker +44 (0)20 3475 8666
Cantor Fitzgerald +44 (0)20 7894 7000
Rich Thompson
David Porter
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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