REG - SIMEC AtlantisEnergy - Request to amend Debenture Deed

SIMEC Atlantis EnergyAnnouncement

25/05/2022 07:00

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RNS Number : 6678M  SIMEC Atlantis Energy Limited  25 May 2022

 

 

 

RNS

25 May 2022

SIMEC ATLANTIS ENERGY LIMITED
("SAE", the "Company" and, together with its subsidiaries, the "Group")

 

SAE issues a request to amend Debenture Deed

 

SAE's subsidiary Atlantis Ocean Energy has issued a communication to its
debenture holders passed via Abundance requesting an amendment to the
debenture deed which will:

 

·      Extend the Maturity Date from 30 June 2022 to 30 June 2023.

·      Allow the interest due on 30 June 2022 to be paid late but no
later than 30 September 2022.

·      Apply additional interest due to the amount that is being paid
late at a rate equivalent to 4% per year.

 

The Company expects to use part of the initial proceeds from the agreement
with Uskmouth Energy Storage to deliver a Battery Energy Storage Site at
Uskmouth, announced separately yesterday, to repay the debentures and
associated interest.

 

This request for a special resolution requires the agreement of 75% by value
of the debenture holders. The voting period on the proposal has now opened and
the results of the vote are expected during the week commencing 13 June. SAE
will provide a further update at that time.

 

 

 

For more information, please contact

 SIMEC Atlantis Energy Limited               +44 (0) 7739 832 446
 Sean Parsons, Director of External Affairs
 Investec Bank PLC - NOMAD and Joint Broker  +44 (0) 20 7597 5970
 Jeremy Ellis

 Ben Griffiths

 Arden Partners PLC - Joint Broker           +44 (0) 20 7614 5900

 Ruari McGirr

 Simon Johnson

 

Notes to Editors

 

SAE is a global developer, owner and operator of sustainable energy projects
with a diverse portfolio in various stages of development.

https://www.simecatlantis.com/ (https://www.simecatlantis.com/)

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