Launch of Bond
27 June 2017
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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 £2 million and a maximum of £5 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.”
Atlantis Resources | via FTI Consulting |
Tim Cornelius, Chief Executive Officer
Simon Counsell, Chief Financial Officer |
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FTI Consulting | +44 (0)20 3727 1000 |
Ben Brewerton
Alex Beagley James Styles |
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Abundance Investment | +44 (0)7802 634 695 |
Martin Campbell
martin@beaconstrategic.com |