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Pin to quick picksSimec Atlantis Share News (SAE)

Share Price Information for Simec Atlantis (SAE)

London Stock Exchange
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Share Price: 1.15
Bid: 1.00
Ask: 1.30
Change: 0.36 (45.57%)
Spread: 0.30 (30.00%)
Open: 0.90
High: 1.25
Low: 0.90
Prev. Close: 0.79
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IN BRIEF: SIMEC Atlantis loss widens; plans to raise GBP2.5 million

Tue, 28th Sep 2021 17:49

SIMEC Atlantis Energy Ltd - Edinburgh-based tidal and hydro energy producer - Revenue for six months to end of June 30 GBP5.2 million, down from GBP7.9 million a year ago. Pretax loss widens to GBP10.7 million from GBP6.2 million. Behind the wider loss, "there was reduced revenue performance from the MeyGen project as a result of significant outages in three of its four turbines, which necessitated retrieval for onshore repair. 2021 results for the tidal turbine and engineering services division have seen a drop off following a very strong 2020, which benefitted from revenues on the phase 1 Japanese tidal project."

Separately unveils plans for share placing to raise GBP2.5 million priced at 2.5 pence per share. Placing price represents 48% discount to Tuesday's closing price.

Net proceeds will be used to fund working capital and "the delivery of its 'first-of-a-kind' and world leading projects".

Adds that Jay Hambro has resigned as SIMEC representative on the SIMEC Atlantis Energy board.

Current stock price: 4.85p

Year-to-date change: down 77%

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
11 Jan 2024 14:54

IN BRIEF: SIMEC Atlantis Energy reaches milestone in BESS project

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company focused on tidal energy - Says the next battery energy storage system project at the Uskmouth site has been granted planning consent with conditions by Newport City Council. Describes this as "another significant milestone" in the plan to develop 1 gigawatt of BESS at the Uskmouth sustainable energy park.

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5 Dec 2023 20:01

EARNINGS AND TRADING: Lowland Investment NAV falls but dividend hiked

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

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2 Nov 2023 16:00

UK shareholder meetings calendar - next 7 days

Friday 3 November 
Cap-XX LtdAGM
Finsbury Food Group PLCGM re takeover by Frisbee Bidco
Jubilee Metals Group PLCAGM
Monday 6 November 
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Tuesday 7 November 
Time Finance PLCAGM
Wednesday 8 November 
Incanthera PLCAGM
Thursday 9 November 
D4t4 Solutions PLCGM re name change to Celebrus Technologies PLC
Libertine Holdings PLCAGM
SIMEC Atlantis Energy LtdEGM re appointment of Nexia Singapore PAC as auditors
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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27 Sep 2023 14:42

TRADING UPDATES: SIMEC Atlantis swings to profit; System1 optimistic

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

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27 Sep 2023 10:49

Simec Atlantis Energy swings to first-half profit

(Sharecast News) - Simec Atlantis Energy announced a profit before tax of £4.5m for the first half of 2023 on Wednesday, marking a notable shift from the £8.6m loss reported during the same period last year.

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27 Sep 2023 10:49

Simec Atlantis Energy swings to first-half profit

(Sharecast News) - Simec Atlantis Energy announced a profit before tax of £4.5m for the first half of 2023 on Wednesday, marking a notable shift from the £8.6m loss reported during the same period last year.

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8 Sep 2023 14:17

Simec Atlantis makes significant advancement in MeyGen project

(Sharecast News) - Simec Atlantis Energy (SAE) announced a significant advancement in its MeyGen tidal power project in Scotland on Friday.

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8 Sep 2023 10:27

SSE, RWE, SIMEC secure UK renewables bids, but offshore wind absent

(Alliance News) - SSE PLC, RWE AG and SIMEC Atlantis Energy Ltd on Friday celebrated their latest contract wins to provide renewables for the UK under the contracts for difference scheme, as the government faced criticism for failing to secure any offshore wind bids.

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8 Sep 2023 08:55

LONDON MARKET OPEN: UK jobs market slow; Round hill soars on takeover

(Alliance News) - Stock prices in London opened higher on Friday, after reports showed that UK hiring activity slowed in August, suggesting that interest rates are working.

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4 Aug 2023 15:47

UK shareholder meetings calendar - next 7 days

Monday 7 August 
Milton Capital PLCAGM
Revolution Beauty Group PLCGM re current directors removal
Tuesday 8 August 
APQ Global LtdAGM
Custodian Property Income REIT PLCAGM
Wednesday 9 August 
Braemar PLCAGM
CML Microsystems PLCAGM
D4t4 Solutions PLCAGM
daVictus PLCAGM
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Tatton Asset Management PLCAGM
Thursday 10 August 
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Marks Electrical Group PLCAGM
Silver Bullet Data Services Group PLCAGM
Friday 11 August 
Crushmetric Group LtdAGM
SIMEC Atlantis Energy LtdAGM
TwentyFour Select Monthly Income Fund LtdAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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26 Jul 2023 12:04

SIMEC Atlantis Energy annual loss narrows, outlook hopeful

(Alliance News) - SIMEC Atlantis Energy Ltd on Wednesday said its loss narrowed but its revenue was down in its annual results, with the company saying it was in a "strong position".

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24 Jul 2023 10:52

SIMEC Atlantis receives GBP4 million payment for project in Wales

(Alliance News) - SIMEC Atlantis Energy Ltd on Monday said it has received the GBP4.0 million development premium from Uskmouth Energy Storage Ltd.

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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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