Atlantis Resources Limited Launch of Bond (2208J)
June 27 2017 - 2:01AM
UK Regulatory
TIDMARL
RNS Number : 2208J
Atlantis Resources Limited
27 June 2017
27 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RESTRICTED AND IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE,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")
Launch of Bond
Further to the Company announcement made on 15 June, Atlantis, a
global leader in the tidal power sector is pleased to announce the
formal launch through the Abundance Investment platform of a
proposed five year, bond offer maturing 2022. The bond has a coupon
of 8%, payable semi-annually. The bond offer seeks to raise a
minimum of GBP2 million and a maximum of GBP5 million, and is
expected to close on or before 16 August 2017, which date may be
extended by 2 months at the discretion of the directors.
Subject to completion of the bond offer the proceeds of the
issue will 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. 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.
Tim Cornelius, CEO, Atlantis Resources Ltd, said:
"As we embark on the most exciting time in the history of tidal
power, this bond offer represents a chance for ordinary investors
to help Atlantis to grow and share in its financial success. The
bonds will help us achieve the huge potential the ocean offers for
generating clean, unseen, environmentally benign, highly
predictable power across the world. ."
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
Martin Campbell +44 (0)7802
martin@beaconstrategic.com 634 695
This information is provided by RNS
The company news service from the London Stock Exchange
END
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