REG - ATOME PLC - Director & Senior Manager Subscription

AtomeAnnouncement

22/05/2025 07:00

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RNS Number : 6783J  ATOME PLC  22 May 2025

 

 

 

22 May 2025

 

ATOME PLC

("ATOME", "the Company", or "the Group")

 

 

Directors and Senior Managers subscribe for approximately £1.2m New Shares by
way of bonus application

 

Issue Price at 50 pence being a 29% premium to current share price

 

 

ATOME (AIM: ATOM), the leading developer of international green fertiliser
projects, is pleased to announce a direct subscription by directors and
certain senior management (the "Subscription") at a price per Ordinary Share
of 50 pence (the "Issue Price") being approximately a 29% premium to the
middle market price of the shares of the Company as at the close of business
on 21 May 2025.

 

The Subscription

 

The Subscription has been made by the application of annual bonuses for the
two previously un-awarded full years 2023 and 2024 and has been granted by the
independent Remuneration Committee of the Company to the relevant executives
pursuant to the terms of their contracts of employment/engagement. The
relevant persons are responsible for their own tax liability on such awards.
Each have agreed  not to dispose of any interest in the bonus-related
Subscription Shares until expiry of the period of 6 months from the date of
subscription or the declaration of final investment decision ("FID") on the
Villeta Project and completion of the full financing whichever shall first
occur. Peter Levine, the Chairman, has additionally subscribed for a further
727,660 ordinary shares at the premium Issue Price of 50 pence.

 

This Subscription, with the lock-in period being at a substantial 29% premium
to the current share price, demonstrates management's alignment with
shareholders, as well as conviction and belief in the business, prospects and
demonstrative value of the Company. In awarding the bonuses, the Remuneration
Committee has taken into account the significant milestones achieved by the
executives successfully placing ATOME at the forefront in its industry
targetting FID at Villeta this year.

 

ATOME may, within the Directors current authorities, at its discretion extend
the Subscription at the Issue Price. Any issue of additional new ordinary
shares, if it were to occur, would be announced as soon as possible. Any
existing shareholder may through their stockbroker contact the Company.

 

Subscriptions

 

                                                                                          Percentage holding in the Company post issue

 Directors           Number of Subscription Shares

                                                                Shareholding post issue

 Peter Levine*       800,000                                    14,765,674                28.97%

                     (including 727,660 further subscription)

 Olivier Mussat      507,698                                    3,157,597                 6.20%

 Nikita Levine       124,000                                    319,030                   0.63%

 James Spalding      375,940                                    918,895                   1.80%

 Robert Sheffrin     30,000                                     163,672                   0.32%

 Senior Management

 Denis Kurochkin     200,000                                    470,540                   0.92%

 Terje Bakken        281,955                                    519,035                   1.02%

 Juan Pablo Nogues   126,316                                    230,106                   0.45%

 

*through himself or related parties but excluding his concert parties

 

In aggregate, directors have subscribed for a total of 1,837,638 New Ordinary
Shares representing 3.79%. of the existing issued share capital. In addition
to the directors, other senior management have subscribed for a total of
608,271 Ordinary Shares.

 

Concert Party interest

 

The members of the Concert Party, including Peter Levine, the Chairman and
original founder of ATOME (as defined in the Admission Document published on
17 December 2021), are currently interested in aggregate in 37.841% of the
existing issued share capital, reducing to 37.838% in the enlarged issued
share capital on Admission. As the members of the Concert Party therefore
currently hold and will continue to hold on Admission more than 30% but less
than 50% of the Company's voting share capital for so long as they continue to
be treated as acting in concert, any further increases in the Concert Party's
interests in Ordinary Shares are subject to the provisions of Rule 9 of the
Takeover Code.

 

Admission

 

Application will be made for the Subscription Shares amounting to 2,445,909 in
aggregate to be admitted to trading on AIM ("Admission") and it is expected
that Admission will become effective at 8.00 am on or around 29 May 2025.

Total Voting Rights

 

Following Admission, the Company's issued and fully paid share capital will
consist of 50,961,206 ordinary shares of 0.2 pence each (the "Ordinary
Shares"). The Company has no Ordinary Shares in treasury. As such, the total
number of voting rights in the Company will be 50,961,206 Ordinary Shares.
This number may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

For more information, please visit https://www.atomeplc.com or contact:

 

 ATOME PLC                                   +44 (0) 113 337 2210
 Nikita Levine, Investor Relations
info@atomeplc.com

 Beaumont Cornish (Nominated Adviser)        +44 (0) 20 7628 3396
 Roland Cornish, Michael Cornish

 Stifel (Joint Broker)                       +44 (0) 20 7710 7600

 Jason Grossman, Ashton Clanfield
 SP Angel (Joint Broker)                     +44 (0) 20 3490 0470
 Richard Hail, Jen Clarke, Richard Parlons
 FTI Consulting (Communications Adviser)     +44 (0) 20 3727 1000

                                           atome@fticonsulting.com (mailto:atome@fticonsulting.com)
 Elizabeth Adams, Ben Brewerton

 

About ATOME

 

ATOME PLC is an AIM-listed company targeting green fertiliser production with
445-megawatt of projects in Paraguay and a further pipeline of potential
projects in Central America. ATOME is in the early stages of developing a
significant green power generation and infrastructure business.

 

ATOME's first project in Villeta, Paraguay, benefits from a 145MW renewable
power purchase agreement and 43 hectares of land in a tax-free zone. Front End
Engineering Design studies have been completed and Heads of Terms signed with
Yara International, the leading international fertiliser company, for offtake
of all of Villeta's green fertiliser production. In early 2025, ATOME
announced Hy24, the leading clean hydrogen asset manager, as anchor and lead
equity investor in the project, and confirmed the signing of the US$465
million fixed-price EPC contract with leading ammonia and fertilizer
engineering specialist Casale S.A. The Company is now negotiating the project
finance with a view to commencing work in 2025. There is a further 300MW of
renewable power reserved for ATOME in Paraguay.

 

In Costa Rica, The National Ammonia Corporation S.A. was formed in 2022 with
local partner Cavendish S.A. based in Costa Rica to develop green fertiliser
projects for the region. As well as straddling the Pacific and Atlantic
Oceans, Costa Rica is a democratic Central American country. In agriculture,
Costa Rica is the second largest supplier of pineapples in the world and is in
the top ten banana growers.

 

All power for ATOME is from 100% renewable sources and all chosen sites are
located close to the power and water sources and export facilities to serve
significant domestic and then international demand.

 

The Company has a green-focused Board which is supported by major shareholders
including Peter Levine, Schroders, a leading fund manager, and Baker Hughes, a
global technology company operating in the energy and industry sectors.

 

 

Other information

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

-ends-

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