Last checked at 24 Jun 2015 08:00
24 June 2015
Atlantis Resources Limited
AGM Trading Update
Atlantis Resources Limited (AIM: ARL, "Atlantis", or the "Company"), a global leader in the tidal power sector, will provide the following update on its business at its Annual General Meeting to be held at 10:00am today.
Progress on the development of the Company's flagship MeyGen project is on track for first power in 2016. Construction works continue at the onshore site, with completion of three of the four directionally drilled bores now complete. MeyGen expects to mobilise vessels to install the power export cables later this year, bringing each cable to shore through these drilled bores for connection to the onshore control buildings.
Furthermore, the Company is progressing well towards final completion of the acquisition of Marine Current Turbines Limited in an all share deal following announcement of the execution of the sale and purchase agreement with Siemens AG on 29 April 2015.
Enquiries:
Atlantis Resources | +44 (0)20 3727 1000 |
Tim Cornelius, Chief Executive Officer | |
Duncan Black, Chief Financial Officer | |
Peel Hunt LLP (Nominated Adviser and Broker) | +44 (0)20 7418 8900 |
Daniel Harris Jock Maxwell Macdonald Euan Brown | |
FTI Consulting | +44 (0)20 3727 1000 |
Ben Brewerton Alex Beagley Stephanie Blott James Styles |