Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

SIMEC ATLANTIS ENERGY LIMITED

(SAE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

SIMEC Atlantis Energy : Middlesbrough – PrimaryBid Offer Announcement

08/06/2020 | 05:19am EST

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF SIMEC ATLANTIS ENERGY LIMITEDIN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATES OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (COLLECTIVELY, THE "UNITED STATES"), CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN OR INTO OR FROM ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE PROHIBITED BY ANY APPLICABLE LAW.

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)

6 August 2020

SIMEC Atlantis Energy Limited
(the "
Company") (AIM: SAE)

PrimaryBid.com Offer

SIMEC Atlantis Energy Limited is delighted to announce a conditional offer for subscription for new ordinary Shares at an issue price of 12 pence per new ordinary Share (the "Placing Price"), being a discount of 34.25 per cent. to the closing mid-price on 5 August 2020, through PrimaryBid Limited (the "PrimaryBid Offer"). The Company is also conducting a placing of new ordinary Shares at the Placing Price by way of an accelerated bookbuild process by Investec Bank PLC and Arden Partners plc (the "Placing") as announced at 7:00 a.m. on 6 August 2020.

The PrimaryBid Offer and the Placing are conditional on the new ordinary Shares to be issued pursuant to the PrimaryBid Offer and the Placing being admitted to trading on AIM ("Admission"). Admission is expected to be take place at 8.00 a.m. on 11 August 2020. The PrimaryBid Offer will not be completed without the Placing also being completed.

The net proceeds of the Placing will be used to fund the Company's working capital requirements, in order that the Company's auditors are able to give a clean going concern opinion in respect of the Company's financial statements for the period ended 31 December 2019. The net proceeds of the Placing, and the proceeds of the PrimaryBid Offer, will also be used in connection with the proposed investment by the Company in a fuel supply joint venture with N+P. Specifically, of the net proceeds raised, c. £3 million would be used for the former and c. £2.5 million for the latter. If the proposed investment does not proceed or the proceeds are greater than what is required for the proposed investment then the net proceeds of the Placing and the PrimaryBid Offer will be used for the Group's general corporate purposes to the extent that the proceeds exceed the amount used to fund the Group's working capital requirements.

PrimaryBid Offer

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the PrimaryBid Offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.

The PrimaryBid Offer, via the PrimaryBid.com platform, will be open to individual and institutional investors from 7:00 a.m. on 6 August 2020. The PrimaryBid Offer may close early if it is oversubscribed. A further announcement will be made, following the closure of the PrimaryBid Offer which will contain details of the results of the Placing and PrimaryBid Offer.

Subscriptions under the PrimaryBid Offer will be considered by the Company on a "first come, first served" basis, subject to conditions (which are available to view on PrimaryBid.com) with any investment request over £50,000 first requiring consultation with the Company.

No commission is charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid. It is vital to note that once an application for new ordinary Shares pursuant to the PrimaryBid Offer has been made and accepted via PrimaryBid, an application cannot be withdrawn.

For further information on PrimaryBid.com or the procedure for applications under the PrimaryBid Offer, visitwww.PrimaryBid.comor call PrimaryBid.com on +44 20 3026 4750.

The new ordinary Shares to be issued pursuant to the PrimaryBid Offer will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rankpari passuin all respects with the Company's existing ordinary Shares, including the Placing Shares.

Defined terms in this announcement shall have the same meaning as in the Company's announcement of 7:00 a.m. on 6 August 2020, save as provided otherwise in this announcement.

Enquiries

PrimaryBid Limited+44 (0) 20 3026 4750
James Deal
Fahim Chowdhury

Investec Bank plc+44 (0) 20 7597 5970
(Nominated Adviser, Broker and Joint Bookrunner to the Company)
Jeremy Ellis
Sara Hale
Ben Griffiths

Arden Partners plc+44 (0) 20 7614 5900
(Joint Bookrunner to the Company)
Ciaran Walsh
Ruari McGirr
Benjamin Cryer

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

FTI Consulting+44 (0) 20 3727 1000
(PR Adviser to the Company)
Ben Brewerton
Caroline Cutler
Chris Laing

Details of the PrimaryBid Offer

The Company highly values its retail investor base which has supported the Company alongside institutional investors over several years. Given the longstanding support of retail shareholders, the Company believes that it is appropriate to provide retail and other interested investors the opportunity to participate in the PrimaryBid Offer. The Company is therefore making the PrimaryBid Offer available exclusively through PrimaryBid.com.

The PrimaryBid Offer is offered under the exemptions against the need for a prospectus allowed under the Prospectus Rules. As such, there is no need for publication of a prospectus pursuant to the Prospectus Rules, or for the approval of the same by the Financial Conduct Authority in its capacity as the UK Listing Authority. The PrimaryBid Offer is not being made into any Restricted Jurisdiction or any other jurisdiction where it would be unlawful to do so.

There is a minimum subscription of £100 per investor under the terms of the PrimaryBid Offer which is open to existing shareholders and other investors subscribing via PrimaryBid.com. This allocation will be filled on a "first come first served" basis.

Any investment request in excess of £50,000 will require the Company's consent and may be subject to scale back.

For further details please refer to the PrimaryBid website atwww.PrimaryBid.com. The terms and conditions on which the PrimaryBid Offer is made and on which any investor shall participate in the PrimaryBid Offer, including the procedure for application and payment for new ordinary Shares, is available to all persons who register with PrimaryBid.

Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.

It should be noted that a subscription for new ordinary Shares pursuant to the PrimaryBid Offer and investment in the Company carries a number of risks. Investors should consider the risk factors set out on PrimaryBid.com before making a decision to subscribe for new ordinary Shares. Investors should take independent advice from a person experienced in advising on investment in securities such as the new ordinary Shares if they are in any doubt.

The person responsible for arranging for the release of this announcement on behalf of SIMEC Atlantis Energy is Tim Cornelius, Chief Executive Officer of SIMEC Atlantis Energy Limited.

For the avoidance of any doubt, Investec Bank PLC and Arden Partners plc are acting for the Company solely in connection with the Placing and not the PrimaryBid Offer. Accordingly, no responsibility or liability is or will be accepted by Investec Bank PLC, Arden Partners plc or any of their respective affiliates or agents (or any of their respective directors, officers, employees or advisers) for the contents of the information contained in this Announcement or otherwise in connection with the PrimaryBid Offer.

Attachments

Disclaimer

SIMEC Atlantis Energy Ltd. published this content on 06 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 August 2020 09:18:03 UTC


© Publicnow 2020
All news about SIMEC ATLANTIS ENERGY LIMITED
11/09SIMEC ATLANTIS ENERGY : Atlantis and Asturfeito's Variable Pitch System for Tida..
PU
10/14SIMEC ATLANTIS ENERGY : Directorate Change
PU
08/28SIMEC ATLANTIS ENERGY : Results of AGM
PU
08/26SIMEC ATLANTIS ENERGY : TR-1 Notification
PU
08/21SIMEC ATLANTIS ENERGY : Debt Financing Update for Uskmouth
PU
08/21SIMEC ATLANTIS ENERGY : Nears GBP170 Million Loan to Fund First Phase of Uskmout..
DJ
08/07SIMEC ATLANTIS ENERGY : Further re Fuel Supply Joint Venture with N+P Group
PU
08/06SIMEC ATLANTIS ENERGY : Results of placing and primarybid offer
PU
08/06SIMEC ATLANTIS ENERGY : Middlesbrough – PrimaryBid Offer Announcement
PU
08/06SIMEC ATLANTIS ENERGY : Project Middlesbrough – Placing Announcement
PU
More news
Financials
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 -20,5x
Yield 2020 -
Capitalization 213 M 159 M 159 M
EV / Sales 2020 12,3x
EV / Sales 2021 21,9x
Nbr of Employees 88
Free-Float 46,1%
Chart SIMEC ATLANTIS ENERGY LIMITED
Duration : Period :
SIMEC Atlantis Energy Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SIMEC ATLANTIS ENERGY LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 1,26 SGD
Last Close Price 0,43 SGD
Spread / Highest target 204%
Spread / Average Target 191%
Spread / Lowest Target 178%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
SIMEC ATLANTIS ENERGY LIMITED130.48%159
VESTAS WIND SYSTEMS A/S77.29%37 403
SIEMENS GAMESA RENEWABLE ENERGY, S.A.77.36%22 440
TONGWEI CO.,LTD142.80%20 789
BROOKFIELD RENEWABLE PARTNERS L.P.35.22%19 786
ENPHASE ENERGY, INC.432.22%17 569