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SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Wins a one year extension to the maturity date of its Atlantis Ocean Energy debenture deed to June 30, 2023. The interest due on June 30 will now be paid late but company notes this will be paid no later than September 30. Company also formally requests from Atlantis a deferral of up to three months for interest payment due on June 30. The request for the deferral requires the agreement of 75% by value of debenture holders.
SAE expects to use part of the initial proceeds from the previously announced agreement with Uskmouth Energy Storage to deliver a Battery Energy Storage Site at Uskmouth, expected at around £10 million, to repay the interest.
Current stock price: 2.50 pence
12-month change: down 63%
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