SIMEC Atlantis Energy Limited Extraordinary General Meeting (4292T)
November 24 2021 - 1:59AM
UK Regulatory
TIDMSAE
RNS Number : 4292T
SIMEC Atlantis Energy Limited
24 November 2021
24 November 2021
SIMEC Atlantis Energy Limited
("SAE", the "Company" and, together with its subsidiaries, the
"Group")
Extraordinary General Meeting
SAE announces that a circular containing a notice convening an
extraordinary general meeting of the Company (the "EGM") will be
posted to shareholders today.
Shareholder approval is being sought for the appointment of
Moore Stephens LLP ("Moore Stephens") as auditors of the Company to
hold office until the conclusion of the next annual general meeting
of the Company at which the audited financial statements are laid,
together with authority for the directors of the Company to set the
remuneration of the auditors. At the time of publication of the
Company's annual report for the year ended 31 December 2020 and as
noted in this year's notice of annual general meeting held on 18
August 2021, Ernst & Young LLP ("EY") had expressed their
desire not to seek reappointment as the Company's external auditor
and agreed to stay in office until such time as a replacement
auditor was appointed prior to the Company's next annual general
meeting. The appointment of Moore Stephens is conditional on the
resignation of EY as auditors of the Company, including EY
obtaining approval from the Accounting and Regulatory Authority of
Singapore to resign.
The Company is also seeking shareholder approval for the
authority to allot and issue up to 40,000,000 ordinary shares on a
non-pre-emptive basis to satisfy the Company's obligations pursuant
to or in connection with the share placement agreement and warrant
instrument entered into by the Company with New Technology Capital
Group, LLC (the "Investor") on 15 December 2020, details of which
were announced by the Company on 16 December 2020. The Company has
since terminated the share placement agreement on 28 September
2021. The balance of funds due to the Investor under the share
placement agreement is GBP341,000, which the Board proposes to
continue to settle (along with any ordinary shares subscribed for
as a result of exercise of the Investor's warrants) through the
issuance of new ordinary shares but, in the absence of having the
requisite authorities to do so, the Company would otherwise be
required to cash settle such amounts. To this end, the Company's
existing authorities to allot and issue shares are not currently
sufficient to allow the Company to allot and issue ordinary shares
to settle fully the balance of the funds due to the Investor under
the share placement agreement, together with the exercise of the
Investor's warrants. Accordingly, the Company is seeking the
above-mentioned shareholder approval.
The EGM will be held at 11 a.m. (London time) on Thursday, 9
December 2021 at the offices of Investec Bank plc, 30 Gresham
Street, London, United Kingdom, EC2V 7QP. In light of the Covid-19
outbreak and the need to protect the health and wellbeing of
shareholders and employees, the Extraordinary General Meeting will
take place as a closed meeting and shareholders and advisors will
not be able to attend in person. The Company will make arrangements
so that a minimum quorum of shareholders is present and the legal
requirements to hold a valid Extraordinary General Meeting are
satisfied. If shareholders wish to access the meeting
electronically, a live audio-only stream will be available at
https://link.simecatlantis.com/EGM . The submission of questions to
the Chairman in advance of the meeting, addressing substantial and
relevant matters can also be made through the Company's website at
"Contact Us".
A copy of the circular will be available from the Company's
website at www.simecatlantis.com .
Enquiries:
SIMEC Atlantis Energy Limited +44 (0) 7739 832 446
Sean Parsons, Director of External Affairs
Investec Bank plc +44 (0) 20 7597 5970
(Nominated adviser and Joint Broker)
Jeremy Ellis
Ben Griffiths
Shalin Bhamra
Arden Partners plc +44 (0) 20 7614 5900
(Joint Broker)
Ruari McGirr
Richard Johnson
Simon Johnson
Notes to Editors
SIMEC Atlantis Energy
SAE is a global developer, owner and operator of sustainable
energy projects with a diverse portfolio in various stages of
development. This includes a 77 per cent. stake in the world's
largest tidal stream power project, MeyGen, 100 per cent. of the
220MW Uskmouth Power Station conversion project and 100 per cent.
of Green Highland Renewables, a leading developer of mini-hydro
projects.
https://www.simecatlantis.com/
More on the MeyGen Project:
https://simecatlantis.com/projects/meygen/
More on the Uskmouth Project:
https://simecatlantis.com/project-development-operation/simec-uskmouth-power/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NOGEAXFLASXFFEA
(END) Dow Jones Newswires
November 24, 2021 02:59 ET (07:59 GMT)
Simec Atlantis Energy (LSE:SAE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Simec Atlantis Energy (LSE:SAE)
Historical Stock Chart
From Apr 2023 to Apr 2024