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Simec Atlantis shares surge as receivers resign from major shareholder

By Josh White

Date: Friday 23 Jul 2021

Simec Atlantis shares surge as receivers resign from major shareholder

(Sharecast News) - Sustainable energy generator Simec Atlantis Energy updated the market on the status of its major shareholder, Simec UK Energy, which holds around 41% of the company, and over which receivers were appointed in May/
The AIM-traded firm said the GFG Alliance, of which Simec UK Energy is a member, had confirmed that the appointment of receivers had ceased, and that the receivers had resigned as directors of Simec UK Energy.

It said the GFG Alliance also confirmed that they were in control of the Simec Atlantis shares.

"Simec Atlantis Energy understands that this matter is now resolved, and looks forward to a more stable relationship with its major shareholder," the board said in its statement.

"Simec Atlantis Energy is an independent company, whose focus remains the delivery of its world leading projects, which can play a critical role in the journey to net zero."

At 0919 BST, shares in Simec Atlantis Energy were up 46.19% at 6.14p.

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