Last checked at 15 Jun 2017 07:00
15 June 2017
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Atlantis Resources Limited
("Atlantis" or the "Company")
Proposed Bond Launch
Atlantis, a global leader in the tidal power sector, announces that it is working with Abundance Investment Limited ("Abundance"), the provider of a regulated green peer-to-peer investment platform, to prepare an offer for bonds to raise further capital for the activities of the Atlantis group.
Abundance offers individuals the opportunity to invest in projects or companies with a focus on the environment and renewable energy. The Abundance investments are eligible for inclusion in an ISA.
Atlantis is working with Abundance to launch a bond offer which, together with the capital raised in the Company's recent equity issuance, will provide funds for the growth of the Atlantis group's business. These funds are expected to be used to progress and accelerate the development of the best opportunities in the Atlantis project pipeline, to repay some more expensive debt, and to provide general working capital for the Atlantis group.
Atlantis will seek to raise up to £5 million in total through Abundance. It is expected that the bonds will have a 5 year term and a coupon of 8%, payable semi-annually. The issuing entity will be a wholly owned UK based subsidiary of the Company, and the bonds, which will be unsecured, will benefit from a parent company guarantee from Atlantis.
Abundance and Atlantis are working together to prepare for a launch of the bond offer at the end of June 2017.
Enquiries:
Atlantis Resources | via FTI Consulting |
Tim Cornelius, Chief Executive Officer Simon Counsell, Chief Financial Officer | |
FTI Consulting | +44 (0)20 3727 1000 |
Ben Brewerton Alex Beagley James Styles
Abundance Investment Louise Wilson |
+44 (0)20 3475 8666 |