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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  SIMEC Atlantis Energy Limited    SAE   SG9999011118

SIMEC ATLANTIS ENERGY LIMITED

(SAE)
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SIMEC Atlantis Energy : Nears GBP170 Million Loan to Fund First Phase of Uskmouth Project, Shares Rise

08/21/2020 | 03:23am EST

By Jaime Llinares Taboada

 

Shares in SIMEC Atlantis Energy Ltd. rose Friday after it said that it has entered into an exclusive debt financing agreement for up to 170 million pounds ($224.6 million) with a South Korean firm to fund the first phase of its Uskmouth conversion project in Wales.

Shares at 0703 GMT were up 2.75 pence, or 15%, at 20.50 pence.

The developer of sustainable energy projects said the lender is Hana Financial Investment Co. Ltd., and that the agreement binds both to a six-month exclusivity period.

The company said the GBP170 million would cover the capital and development expenditure, operating costs, fees and interest for the first phase of Uskmouth. The facility would also provide an equity bridge loan, it said.

"This agreement with Hana reflects the high level of international interest our world-leading conversion project has and we believe that this is a stepping stone to further conversion opportunities across Asia and indeed globally," Chief Executive Tim Cornelius said.

Uskmouth is an old coal power station located near Newport, Wales. SIMEC has plans to convert it so that it operates using plastic and biomass waste fuel pellets. The company said last month that it would phase the project into two stages, with the first phase comprising the conversion of 110 megawatts of generation capacity--half the total 220-megawatt plan.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

Stocks mentioned in the article
ChangeLast1st jan.
HANA FINANCIAL GROUP INC. -2.80% 38150 End-of-day quote.10.58%
SIMEC ATLANTIS ENERGY LIMITED -7.04% 22.31 Delayed Quote.11.63%
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Financials
Sales 2020 14,0 M 10,5 M 10,5 M
Net income 2020 -10,8 M -8,11 M -8,11 M
Net Debt 2020 67,9 M 51,1 M 51,1 M
P/E ratio 2020 -18,6x
Yield 2020 -
Capitalization 215 M 162 M 162 M
EV / Sales 2020 20,2x
EV / Sales 2021 19,1x
Nbr of Employees 88
Free-Float 46,4%
Chart SIMEC ATLANTIS ENERGY LIMITED
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SIMEC Atlantis Energy Limited Technical Analysis Chart | SAE | SG9999011118 | MarketScreener
Technical analysis trends SIMEC ATLANTIS ENERGY LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 1,23 SGD
Last Close Price 0,43 SGD
Spread / Highest target 189%
Spread / Average Target 183%
Spread / Lowest Target 177%
EPS Revisions
Managers and Directors
NameTitle
Timothy James Cornelius Chief Executive Office & Executive Director
John Mitchell Neill Non-Executive Chairman
Andy Richardson Chief Operating Officer
Stephen Hutt Chief Financial Officer
John Anthony Clifford Woodley Non-Executive Director
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