Business
FIRST DAY OF DEALINGS AND ADMISSION TO AIM
FIRST DAY OF DEALINGS AND ADMISSION TO AIM.
About this update from Ampeak Energy Limited
[{"type":"text","content":"\n \nRNS Number : 4907A Atlantis Resources Limited 20 February 2014 \n \n\n20 February 2014\n \nATLANTIS RESOURCES LIMITED\n \nFIRST DAY OF DEALINGS AND ADMISSION TO TRADING ON AIM \n \nSUCCESSFUL PLACING RAISES £12 MILLION\n \nLondon - Atlantis Resources Limited (\"Atlantis\" or the \"Group\"), a vertically integrated turbine supplier and project owner in the tidal power industry, is pleased to announce the commencement at 08.00 today of dealings in its Ordinary Shares on AIM, a market operated by the London Stock Exchange plc. \n \nAdmission Details\n \n· The Group has raised approximately £12 million before expenses through the placing of 12,765,957 new shares (the \"Placing\") at a placing price of 94 pence per Ordinary Share (the \"Placing Price\").\n \n· The total number of Ordinary Shares in issue at Admission is 76,704,200, giving the Group a market capitalisation of £72.1 million at the Placing Price.\n \n· The Group intends to use the net proceeds of the Placing to fund its contribution to the MeyGen Project, to deliver the Group's AR1500 detailed design with Lockheed Martin Corporation, and to prepare its AR1000 turbine for deployment in a demonstration project in China.\n \n· The Group's trading symbol is ARL and the Group's ISIN code is SG9999011118. \n \nN+1 Singer Advisory LLP (\"N+1 Singer\") acted as Nominated Advisor and sole Broker to the Group.\n \nJohn Neill, Non-Executive Chairman of Atlantis Resources Limited commented:\n \n\"This fundraising and admission to AIM marks an important milestone for Atlantis and provides funding for development of the Group's cornerstone MeyGen Project in Scotland, the world's largest tidal energy power project. We were delighted to secure more than £8 million in non-dilutive funding during the course of the road show, which in combination with the Placing exceeds our planned target raise of £20 million.\n\"Atlantis has the largest and most diversified development pipeline in the industry with projects across four continents, and a further pipeline of projects in planning in a number of jurisdictions.\"\n \nTerms defined in the admission document dated 19 February 2014 have the...