Source - RNS
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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR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.

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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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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