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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  SIMEC Atlantis Energy Limited    SAE   SG9999011118

SIMEC ATLANTIS ENERGY LIMITED

(SAE)
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SIMEC Atlantis Energy : Directorate Change

10/14/2020 | 03:40am EST

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 SIMEC Atlantis Energy.

14 October 2020

SIMEC ATLANTIS ENERGY LIMITED

('Atlantis', the 'Company' or the 'Group')

Directorate Change and appointment of Stephen Hodges as Special Advisor to the Board of Directors

Atlantis, the global developer, owner and operator of sustainable energy projects is pleased to announce the appointment of Duncan Black as a Non-Executive Director, with immediate effect, and the appointment of Stephen Hodges as Special Adviser to the Atlantis Board of Directors. The Company confirms that, further to the announcement on 27 July 2020, Ian Wakelin has now stepped down from his non-executive Board position.

Duncan brings a wealth of experience in leading investment groups, advisory firms and power companies within the UK, Asia and Australia. Duncan has formerly held the positions of Co-Head, Infrastructure Investment, at Eastspring Investments (part of Prudential plc), Asia Head of Acquisitions at Deutsche Asset Management, CFO of CLP Holdings' Australian electricity and gas utility business, EnergyAustralia, and Head of Finance and Development at InterGen in Asia Pacific.

Having previously held the position of CFO of Atlantis, and a NED of the Board up until 2018, Duncan has a deep understanding of the Company, while his contacts and knowledge of the Asian power and infrastructure markets will allow Atlantis to pursue expansion opportunities presented by our project partners in Japan and South Korea.

Duncan will also take up the position of chair of the Audit Committee, a committee on which he served previously, and a member of the Nomination Committee, where he will bring significant experience and expertise.

Stephen is a waste sector specialist who most recently held the position of Director of Engineering at Viridor Waste Management Ltd. His knowledge of the UK waste and waste to energy sector will be very valuable to both the Board of Directors in his role as Special Advisor as well as to the Executive Management Team as a member of the Technical Committee.

Chairman of SIMEC Atlantis Energy, John Neill said:

Duncan is an exceptional candidate with extensive knowledge of Atlantis, and we are all looking forward to working with him to establish Atlantis as a global leader in sustainable power generation. Further, we are delighted that Stephen has agreed to join the Atlantis team as a Special Advisor. I know that his extensive industry and technical knowledge will be a very valuable resource for the Company to draw on as we seek to deliver our flagship Uskmouth conversion project and build out our fleet of fuel production plants across the UK.

Duncan's shareholding in Atlantis is 1,042,419 shares (0.21% issued share capital) and he currently holds directorships with Asia Infrastructure Advisors Pte. Ltd (formerly known as Lyon Group Singapore Pte. Ltd), Daestrum Holdings S.A. - Luxembourg and is in the process of becoming a Director at Impact Energy Development Limited - Hong Kong. In the last 5 years Duncan has also held Directorships with Daestrum Capital Pte. Ltd. Singapore (2016 to 2020) and Atlantis Resources Limited (2013 to 2018).

Save as disclosed, there are no other matters which are required to be disclosed in relation to Duncan Black, aged 50, in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

Enquiries:

Investec Bank PLC +44 (0) 20 7597 5970
Jeremy Ellis

Sara Hale

Ben Griffiths

SIMEC Atlantis Energy Limited +44 (0) 7739 832 446
Sean Parsons, Director of External Affairs

Notes to Editors

SIMEC Atlantis Energy

Atlantis is a global developer, owner and operator of sustainable energy projects with a diverse portfolio in various stages of development. This includes a 77 per cent. stake in the world's largest tidal stream power project, MeyGen, 100 per cent. of the 220MW Uskmouth Power Station conversion project and 100 per cent. of Green Highland Renewables, a leading developer of mini-hydro projects.

https://www.simecatlantis.com/

Disclaimer

SIMEC Atlantis Energy Ltd. published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 07:39:04 UTC


© Publicnow 2020
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Sales 2020 22,9 M 17,1 M 17,1 M
Net income 2020 -10,6 M -7,89 M -7,89 M
Net Debt 2020 67,2 M 50,2 M 50,2 M
P/E ratio 2020 -20,7x
Yield 2020 -
Capitalization 214 M 161 M 160 M
EV / Sales 2020 12,3x
EV / Sales 2021 22,0x
Nbr of Employees 88
Free-Float 46,1%
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Number of Analysts 2
Average target price 1,26 SGD
Last Close Price 0,44 SGD
Spread / Highest target 203%
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Spread / Lowest Target 176%
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Managers
NameTitle
Timothy James Cornelius Chief Executive Office & Executive Director
John Mitchell Neill Non-Executive Chairman
Andy Richardson Chief Operating Officer
Stephen Hutt Chief Financial Officer
John Anthony Clifford Woodley Non-Executive Director
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