Atlantis Resources Limited Proposed Bond Launch (1275I)
15 June 2017 - 4:00PM
UK Regulatory
TIDMARL
RNS Number : 1275I
Atlantis Resources Limited
15 June 2017
15 June 2017
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RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE,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.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
FORM PART OF AN OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY,
SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY SECURITIES IN ANY
JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE
UNLAWFUL.
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 GBP5 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
+44 (0)20 3727
FTI Consulting 1000
Ben Brewerton
Alex Beagley
James Styles
Abundance Investment +44 (0)20 3475
Louise Wilson 8666
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGURWQUPMPGC
(END) Dow Jones Newswires
June 15, 2017 02:00 ET (06:00 GMT)
Atlantis (LSE:ARL)
Historical Stock Chart
From Apr 2024 to May 2024
Atlantis (LSE:ARL)
Historical Stock Chart
From May 2023 to May 2024