SIMEC Atlantis Energy

GHR acquisition to have profound earnings implications - SIMEC Atlantis CEO

Tim Cornelius, SIMEC Atlantis PLC’s (LON:SAE) chief executive  expects the acquisition of Green Highland Renewables to complete next month and add to earnings almost immediately.

Atlantis is to raise at least £5mln through a placing and crowdfunding offer to pay the initial consideration for GHR, which will have an immediate impact on the business.

Elsewhere, the Uskmouth waste to power project is making good progress with a first plant to make pellets to fuel the power station to be commissioned shortly.

At MeyGen in the Pentland Firth, Atlantis will also apply for funding from the Scottish Government’s new tidal power support initiative.

Quick facts: SIMEC Atlantis Energy

Price: £0.10

Market: AIM
Market Cap: £40.76 m

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Atlantis Resources expecting to start trading as SIMEC Atlantis Energy...

Tim Cornelius, chief executive of  Atlantis Resources Limited (LON:ARL), updates Proactive Investors on the acquisition of the Uskmouth power station in Wales. Shares in Atlantis Resources are currently suspended, however Cornelius expects work towards the readmission process to...

on 11/5/18

2 min read