Business
Completion of Acquisition
Completion of Acquisition.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \nRNS Number : 5676X Atlantis Resources Limited 09 May 2016 \n\n9 May 2016\nAtlantis Resources Limited\n(\"Atlantis\" or the \"Company\")\n \nCompletion of Acquisition of Projects from ScottishPower Renewables\n \nAtlantis, a global leader in the tidal power sector, is pleased to announce that it has, through a wholly owned subsidiary of the Company, completed the acquisition of Scottish tidal project assets from ScottishPower Renewables (UK) Limited (\"SPR\") in exchange for a stake in the Company's wider development portfolio. \n \nAccordingly, as consideration for the acquisition, Tidal Power Scotland Limited (\"TPSL\") has issued new ordinary shares to SPR resulting in a shareholding for SPR of 6% of the enlarged share capital of TPSL. As a result of the transaction, TPSL has acquired development rights for an additional 110MW of projects in Scotland, including the seabed rights, grid access and consents for the 10MW Sound of Islay project.\n \nTPSL is the holder of the Company's Scottish development portfolio, including an 85% shareholding in the 398MW MeyGen project. \n \n \nEnquiries:\n \n\n\n\n\nAtlantis Resources\n\n\n+44 (0)20 3727 1000\n\n\n\n\nTim Cornelius, Chief Executive Officer \n\n\n\n\n\n\n\nSimon Counsell, Chief Financial Officer \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeel Hunt LLP (Nominated Adviser and Broker)\n\n\n+44 (0)20 7418 8900\n\n\n\n\nDaniel Harris \nJock Maxwell Macdonald\nEuan Brown\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFTI Consulting\n\n\n+44 (0)20 3727 1000\n\n\n\n\nBen Brewerton\nAlex Beagley\nStephanie Blott\nJames Styles\n\n\n\n\n\n\n\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQSSMFIMFMSELI\n ","length":4475,"tagName":"div"}]