14 March 2024
ATOME PLC
("ATOME", "the
Company", or "the Group")
Enterprise Investment Scheme
("EIS") investment status granted by HMRC
ATOME (AIM: ATOM), the only
international green fertiliser project development company on
the London Stock Exchange, is pleased
to announce that His Majesty's Revenue and Customs ("HMRC") has
granted EIS status for the investment made by certain qualifying
individuals in respect of the equity fundraise which was announced
on the 19 February 2024.
The EIS is a UK government
initiative which encourages investment in qualifying companies by
offering tax benefits for qualifying investors who subscribe for
new shares. For the avoidance of doubt, EIS income tax relief is
not available for directors or employees of ATOME.
Subject to certain conditions being
met by the company and the investors, EIS enables a qualifying
investor with a UK tax liability to claim tax relief in the UK of
up to 30% of their investment, subject to a maximum investment of
£1 million per tax year. In addition, when investors sell EIS
shares, any growth in value from an investment is potentially free
from UK capital gains tax (to qualify for this relief, income tax
relief must have already been claimed and not withdrawn by HMRC.
Investors also have to hold the shares for at least three years and
the company and its group must remain EIS qualifying for at least
three years). Further details about EIS can be found
here. Prospective EIS investors
should seek their own tax and financial advice.
The directors of ATOME also believe
that an investment in the Company would potentially constitute a
'qualifying holding' for a Venture Capital Trust ("VCT") subject to
certain conditions being met. A company can
receive a maximum of £5 million from EIS and VCT investors on a
12-month rolling basis. The grant of EIS status broadens the
Company's potential investor base as it continues to develop and
grow. However, the Company reiterates that it intends to finance
its first 145MW project in Paraguay at the asset level through its
subsidiary, ATOME Paraguay.
The 100% green fertiliser that is
targeted to be produced by ATOME from 2026 has a worldwide market,
none more so than in the UK and Ireland where decarbonisation of
the entire agricultural supply chain from supermarkets down to the
farm is gaining increasing traction, importance and support. ATOME
looks forward to delivering further positive news in the next
months as it moves towards Final Investment Decision and asset
level-funding for ATOME's world-scale 145MW green fertiliser
facility in Paraguay. For completeness, ATOME has an exciting 100MW
project in Costa Rica as well as the Phase 2 300MW project in
Paraguay.
Philip Hare & Associates acted
for the Company in the successful grant of EIS status and continues
to do so.
For more
information, please visit https://www.atomeplc.com
or
contact:
|
ATOME PLC
Nikita Levine,
Investor Relations
|
+44 (0) 113 337 2210
info@atomeplc.com
|
|
Beaumont Cornish (Nominated Adviser)
Roland Cornish, Michael Cornish
|
+44 (0) 20 7628 3396
|
|
SP
Angel (Joint Broker)
Richard
Hail, Caroline Rowe, Harry
Davies-Ball
|
+44 (0) 20 3490 0470
|
|
Cavendish Capital Markets Limited (Broker)
Simon Hicks, George Dollemore
|
+44 (0) 20 7220 0500
|
|
Tavistock (Financial PR and IR)
Simon Hudson, Rebecca Hislaire, Saskia Sizen
|
+44 (0) 20 7920 3150
atome@tavistock.co.uk
|
About
ATOME
ATOME PLC is an AIM listed company
targeting green fertiliser production with 445-megawatt of projects
in Paraguay and a further pipeline of potential projects in Central
America.
Since its admission to AIM in
December 2021 ATOME signed a 145MW power purchase agreement with
ANDE, the state energy company in Paraguay for acquired 30 hectares
of land in Villeta, Paraguay for that facility, mandated Natixis
Corporate & Investment Banking and the multilateral IDB Invest
to lead the project funding and with Front End Engineering and
Design studies currently underway with the international companies
Urbas and Casale. ANDE has also allocated a further 300MW for
ATOME's second project subject to
studies.
In Costa
Rica, The National Ammonia Corporation S.A. has been formed
to develop green fertiliser projects for the region. As well as
straddling the Pacific and Atlantic Oceans, Costa Rica is a
democratic Central American country. In agriculture, Costa Rica is
the second largest supplier of pineapples in the world and is in
the top ten banana growers.
ATOME is in the process of
operational planning, sourcing and negotiations with green
electricity suppliers, equipment providers and offtake partners,
including signed memoranda of understanding and cooperation
agreements in place with key parties, to produce green fertiliser
at an industrial scale using electricity generated from
hydroelectric power in Paraguay and Costa Rica. All chosen sites
are located close to the power and water sources and export
facilities to serve significant domestic and then international
demand.
The Company has a green-focused
Board which is supported by major shareholders including Peter
Levine, Schroders, a leading fund manager, and since May 2023,
Baker Hughes, a global energy technology company operating in the
energy and industry sectors.
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