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.
Current stock price: 0.82 pence, down 16%
12-month change: down 60%
By Greg Rosenvinge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Simec Atlantis (SAE)