REG - SIMEC AtlantisEnergy - SAE update on Abundance Bonds and BESS project

SIMEC Atlantis EnergyAnnouncement

29/03/2023 07:00

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RNS Number : 5405U  SIMEC Atlantis Energy Limited  29 March 2023

29 March 2023

 

SIMEC Atlantis Energy Limited

("SAE Renewables", "SAE", the "Company" and, together with its subsidiaries,
the "Group")

 

 

SAE update on Abundance Bonds and BESS project

 

 

Abundance Bonds

Further to the Company's announcement on 23 February 2023, SAE is pleased to
announce that Atlantis Future Energy debenture holders have approved the
amendment to the 2018 debenture deed, which will:

 

·      Extend the maturity date from 31 March 2023 to 31 March 2024, and

·      Increase the interest rate paid on the bonds from 1 April 2023 to
31 March 2024 to 10% per annum.

 

BESS at Uskmouth

SAE is pleased to report that good progress is being made on the additional
120MW Uskmouth BESS project, which re-uses the site of the old cooling towers.
SAE is aiming to agree terms with a developer this year and to secure planning
in Q1 2024.

 

 

 

For further information, please contact:

 

 SAE Renewables                                           +44 (0)7739 832 446

 Sean Parsons, Director of External Affairs

 Strand Hanson Limited (Nominated and Financial Adviser)  +44 (0)20 7409 3494

 Richard Johnson

 Rory Murphy

 David Asquith

 Zeus Capital Limited (Broker)                            +44 (0)20 3829 5000

 Louisa Waddell

 Simon Johnson

 

Notes to Editors

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

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

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