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Pin to quick picksSimec Atlantis Share News (SAE)

Share Price Information for Simec Atlantis (SAE)

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Share Price: 0.80
Bid: 0.75
Ask: 0.85
Change: 0.00 (0.00%)
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AIM WINNERS & LOSERS: SIMEC Atlantis tumbles on Uskmouth project delay

Thu, 07th Oct 2021 10:52

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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AIM - WINNERS

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Sosandar PLC, up 20% at 30.3 pence, 12-month range 13.2p-36.8p. The online fashion brand reports surge in revenue to GBP12.2 million for six months to September 30, nearly triple that reported a year ago amid a record revenue month in September. Also reports "continued improvement in Ebitda loss". Hasn't experienced any material hit from supply chain disruption and is well stocked for autumn. "Despite the external pressures, with a strong first half and a record start to autumn trading the outlook for Sosandar is very positive. The board therefore expects results for the full year to be in line with market expectations," it says.

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Hardide PLC, up 13% at 35.00p, 12-month range 23.05p-44p. The surface coating technology developer says value of orders received in second half of financial year ended September 30 is GBP2.5 million, up 52% on those received in first half, though significant proportion of this will be recognised as revenue in the start of the 2022 financial year. "The board is looking forward to an improved performance in FY22 and providing further updates on the various exciting projects in progress," Chair Robert Goddard says.

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Sureserve Group PLC, up 12% at 78.55p, 12-month range 45p-100.49p. The compliance and energy services firm expects results for financial year to September 30 in line with management expectations amid "strong growth" in revenue, earnings and cash flow. Order book up more than 30% on the GBP356 million reported at end of previous financial year.

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AIM - LOSERS

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SIMEC Atlantis Energy Ltd, down 36% at 1.475p, 12-month range 1.2p-26.9p. Says Welsh government will now itself decide on permit variation application for the conversion of the Uskmouth power station and has blocked Natural Resources Wales - which had previously indicated that it was minded to award the variation to the permit - from making a determination. Says "further delay" is a blow, and the government is putting project at risk. "SAE will consider all available legal options and will seek to ensure that the Welsh government understands how critical this project is to South Wales, Newport, to key industries and the hundreds of employees whose jobs are at risk," it says.

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Block Energy PLC, down 23% at 1.775p, 12-month range 1.52p-5.59p. Third quarter production is 34.6 million barrels of oil equivalent, down from 42.6 million barrels in the second quarter. "Production during Q3 includes the resumption of production from well WR-16aZ, following successful installation of a sucker rod pump, but this was more than offset by the decline from well WR-38Z," Block explains says.

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Mercantile Ports & Logistics Ltd, down 14% at 31.00p, 12-month range 6.06p-95p. The Indian port and logistics facility developer and operator's revenue for 2020 rises to GBP745,000 from GBP30,000 in 2019, but pretax loss widens to GBP6.1 million from GBP5.0 million.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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5 Jul 2023 14:48

Simec Atlantis deploys substantially-upgraded turbine

(Sharecast News) - Simec Atlantis Energy announced the successful deployment of 'Turbine 2' at the MeyGen site on Wednesday, marking a significant milestone in the company's ongoing efforts to enhance performance and reliability in tidal energy generation.

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5 Jul 2023 13:25

SIMEC Atlantis Energy renewables arm successfully deploys Turbine 2

(Alliance News) - SIMEC Atlantis Energy Ltd on Wednesday said it successfully deployed Turbine 2 at the MeyGen site, after undergoing significant upgrades to improve performance and reliability.

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27 Jun 2023 15:15

IN BRIEF: SIMEC Atlantis shares to be suspended after results delay

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company focused on tidal energy - Says shares will be suspended on Monday next week, because it will not publish full-year results by Friday this week, as required under AIM listing rules. Says the delay is due to the board "working hard" to sign the 30-year land lease for the 230 megawatt battery energy storage system project at the group's Uskmouth site, which completed on Tuesday last week. The delay is also due to awaiting approval from the holders of the AOE17 debentures to extend the maturity date of their bonds to June 30, 2024, which completed on Monday. Says it expects to publish its annual results during July, as while the audit process is yet to be completed, it has been advised by the auditors that the audit is "substantially complete" and that there are "no material audit issues" causing the delay.

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21 Jun 2023 14:05

IN BRIEF: SIMEC Atlantis says subsidiary debenture extension approved

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company focused on tidal energy - Says subsidiary SAE Renewables's debenture extension from June 30, 2023 to June 30, 2024 has been approved by holders of the debentures issued in 2017 through Atlantis Ocean Energy. Says holders will pay enhanced interest rate of 10% for the extension period.

Read more
2 Jun 2023 12:08

IN BRIEF: SIMEC Atlantis notes SAE Renewables debenture extension

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company focused on tidal energy - Notes SAE Renewables announcement to the holders of the debentures issued in 2017 through Atlantis Ocean Energy. Extends the AOE17 debenture maturity date to June 30, 2024, from 30 June, 2023. Says holders will pay an enhanced interest for the extension period of 10%.

Read more
29 Mar 2023 12:06

IN BRIEF: SIMEC Atlantis Energy amends 2018 debenture, provides update

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company focused on tidal energy - Announces Atlantis Future Energy debenture holders have approved amendment to 2018 debenture dead, extending maturity date to March 31, 2024 from March 31, 2023. Also increases the interest rate paid on the bond to March 31, 2024 from April 1, 2023 to 10% per years. Follows the announcement in late February, when it asked bondholders to agree to delay repayment of GBP5.0 million debt due on March 31. This is because it will receive funds from annual lease income of its 230 megawatt/460 megawatt hours battery energy storage solutions project, which it estimates in either the second or third quarter of 2023.

Read more
23 Feb 2023 19:56

TRADING UPDATES: SIMEC seeks repayment delay, Pires invests in AI

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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9 Dec 2022 11:25

SIMEC Atlantis wins planning consent for energy storage project

(Alliance News) - SIMEC Atlantis Energy Ltd on Friday said Newport City Council in Wales gave it conditional planning consent for a 230 megawatt/460 megawatt per hour battery energy storage system at the Uskmouth site.

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9 Dec 2022 10:58

AIM WINNERS & LOSERS: Bonhill jumps on offer for UK, Asia businesses

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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TRADING UPDATES: Argentex interim profit grows; Egdon swings to profit

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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8 Nov 2022 12:45

Simec Atlantis making 'good progress' with next phase of MeyGen

(Sharecast News) - Tidal energy specialist Simec Atlantis (SAE) said in an update on Tuesday that it was making "good progress" in the delivery of the first commercial-scale tidal array in the world at the MeyGen site in Scotland.

Read more
31 Oct 2022 16:51

Simec Atlantis sells 79pc of its tidal engineering business

(Sharecast News) - Simec Atlantis Energy has agreed to the sale of a 79% stake in its advanced tidal engineering and services (ATES) division to Proteus Marine Renewables, it announced on Monday.

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6 Oct 2022 17:18

TRADING UPDATES: Nostra revenue rises; Synergia eyes Cambay farm-out

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:

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TRADING UPDATES: Nostra revenue rises; Synergia eyes Cambay farm-out

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:

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6 Oct 2022 17:17

TRADING UPDATES: Nostra revenue rises; Synergia eyes Cambay farm-out

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:

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