Simec Atlantis Regulatory News (SAE)

06 August 2019

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN OR INTO ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE RESTRICTED BY ANY APPLICABLE LAW.

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SIMEC Atlantis Energy Limited

("Atlantis" or the "Company")

 Launch of Bond

SIMEC Atlantis Energy, the global developer, owner and operator of sustainable energy projects, is pleased to announce the formal launch, through Abundance Investment Limited, the provider of a regulated ethical peer-to-peer investment platform, of a proposed five-year bond offer maturing 2024. The bond has a coupon of 8%, payable semi-annually. The bond offer seeks to raise a maximum of £7 million, with no minimum threshold. The offer is expected to close on or before 31 October 2019, and this date may be extended by up to 3 months at the Company's discretion.

Subject to completion of the bond offer, the proceeds of the issue will be used to progress and accelerate the development of opportunities in the Atlantis project pipeline, including funding the remaining development activities for the Uskmouth power station conversion project and consenting and engineering studies for the proposed Raz Blanchard tidal power project, and to provide general working capital to be used in the development of the Atlantis group's business and project portfolio. The issuing entity is a wholly owned UK based subsidiary of the Company, and the bonds, which are unsecured, will benefit from a parent company guarantee from Atlantis. The bonds will have substantially the same terms as the £5 million 8% bonds due 2022 and the £5 million 8% bonds due 2023 issued, respectively, via the Abundance platform in July 2017 and in 2018.

Tim Cornelius, CEO, SIMEC Atlantis Energy Limited, said:

"As we create a global, diversified renewable energy platform, this bond offer represents a chance for investors to help Atlantis to grow and share in our future financial success. The bonds will help us continue work on amazing and world leading projects such as the Uskmouth power station conversion. These bonds will help us towards our ambition of becoming one of the largest and most diversified renewable energy companies on the London Stock Exchange."

Bruce Davis, co-founder and joint Managing Director, Abundance, said:

"At this time of great political upheaval and climate emergency, now is the time to turn words into actions. Atlantis is one of the most dynamic energy development companies in the world, so we're proud to be backing it as it helps lead the UK to a Net Zero future.

"Abundance investors have been at the forefront of supporting the low-carbon transition and we expect our customers - drawn from ordinary people throughout the UK - to embrace this opportunity to build on the success of our two previous green bonds for Atlantis, with this third offer, our biggest for them so far."

Market Abuse Regulation

The information contained in this announcement is inside information under the Market Abuse Regulation (EU) No 596 / 2014. The person responsible for arranging the release of this announcement on behalf of Atlantis is Tim Cornelius, Chief Executive Officer of Atlantis.

Enquiries:

Cantor Fitzgerald +44 (0)20 7894 7000

Rich Thompson

David Porter