The information contained in this announcement is inside information under the Market Abuse Regulation (EU) No 596 / 2014. The person responsible for arranging the release of this announcement on behalf of Atlantis is Tim Cornelius, Chief Executive Officer of SIMEC Atlantis Energy.
22 January 2019
SIMEC ATLANTIS ENERGY LIMITED
("Atlantis", the "Company" or the "Group")
Directorate Changes and appointment of J.P. Morgan Cazenove as Adviser and Joint Broker
Atlantis, a diversified sustainable energy generation company and technology developer with a diversified portfolio of more than 1,000 megawatts in various stages of development, is pleased to announce that it has appointed Ian Wakelin as an Independent Non-Executive Director and Chairman of the Audit Committee with immediate effect.
Ian was previously Chief Executive Officer of Biffa plc, one of the UK's largest waste management businesses and led the IPO of the business in 2016. He was previously co-founder and Chief Executive Officer of Greenstar UK, a waste management and recycling business which was acquired by Biffa plc in 2010 and will bring significant waste management expertise to the Company's board of directors. Ian trained as a Chartered Accountant at Arthur Andersen after graduating with a degree in Accounting and Finance.
Ian Macdonald, who has acted as a Non-Executive Director and as Chairman of the Audit Committee since 2014, has stepped down from his role on the Board of Atlantis.
Atlantis is also very pleased to announce that J.P. Morgan Cazenove has been engaged to act as adviser and joint broker to the Company with immediate effect.
John Neill, Chairman of SIMEC Atlantis Energy, commented: "On behalf of the Board of Directors and the Executive Management Group of Atlantis, I would like to thank Ian Macdonald for his invaluable contributions over the past five years. As Chairman of the Audit Committee, Ian presided over the transformation of Atlantis from a pure play tidal power company into a global, diversified sustainable energy generator. His professionalism and dedication to the roles undertaken during his tenure on the Board has set a high standard for all current and future Directors. We wish him well in all of his future endeavours.
It also gives me great pleasure to welcome Ian Wakelin onto the Board of Atlantis. Ian's professional career to date speaks volumes to the qualities and attributes that he will bring to the Company in his roles as Non-Executive Director and Chairman of the Audit Committee. He is one of the UK waste industry's most experienced leaders with recent and highly relevant capital markets experience that will be a valuable resource to both fellow directors and the Executive Management Group."
Tim Cornelius, CEO of SIMEC Atlantis Energy, commented: "I am delighted to welcome J.P. Morgan Cazenove as adviser and joint broker to Atlantis. We look forward to working with them to achieve our ambitious goal of becoming one of the largest independent generators of sustainable energy in the UK."
Enquiries:
SIMEC Atlantis Energy Limited |
via FTI Consulting |
Tim Cornelius, Chief Executive Officer Andrew Dagley, Chief Financial Officer |
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Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) |
+44 (0)20 7894 7000 |
Rick Thompson Richard Salmond David Porter |
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J.P. Morgan Cazenove (Adviser and Joint Broker) |
+44 (0) 20 7742 4000 |
James Deal Michael Wentworth Stanley |
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Notes to Editors
SIMEC Atlantis Energy
SIMEC Atlantis Energy is the global developer, owner and operator of sustainable energy projects with a diverse portfolio of more than 1,000 megawatts in various stages of development. This includes a 77% stake in the world's largest tidal stream power project, MeyGen, and the conversion of the 220MW Uskmouth Power Station.
In 2017, we entered into a strategic partnership with SIMEC, a member of the GFG Alliance, to convert the Uskmouth Power Plant to use an end-of-waste energy pellet as fuel. The plant is expected to enter commercial operations in 2020 and will sell its power to GFG Alliance companies under two 20-year power purchase agreements. A successful conversion will tackle the pressing issue of non-recyclable waste in the UK and will form the blue-print for other large-scale conversion projects across the globe.
We intend this to be the first of a number of acquisitions aiming to transform SIMEC Atlantis into a diversified energy company of scale, owning development and generating assets across the sustainable energy spectrum in Europe, Asia and Australia, complementing our existing UK pipeline.
www.simecatlantis.com
There is no information that is required to be disclosed with regards to the appointment of Ian Raymond Wakelin, aged 55, pursuant to Schedule 2 paragraph (g) of the AIM Rules, save as set out below:
Current directorships and partnerships
Environmental Services Association Limited
Greenstar Environmental Services Limited
Previous directorships and partnerships in the last five years
A. Smith & Sons (Waste Disposal) Limited
Amber Engineering Limited
Andela Products Limited
Barge Waste Management Limited
Biffa (Jersey) Limited
Biffa (Land) Limited
Biffa (Roxby) Limited
Biffa (UK) Holdings Limited
Biffa Chemical Waste Limited
Biffa Corporate Holdings Limited
Biffa Corporate Services Limited
Biffa Environmental Municipal Services Limited
Biffa Environmental Technology Limited
Biffa Group Holdings (UK) Limited
Biffa Group Holdings Limited
Biffa Group Limited
Biffa GS (FC) Limited
Biffa GS (LPP) Limited
Biffa GS (M&B) Limited
Biffa GS (RUR) Limited
Biffa GS (WS) Limited
Biffa GS Environmental Limited
Biffa GS Environmental Recycling Limited
Biffa GS Holdings Limited
Biffa GS UK Holdings Limited
Biffa Holdings (Jersey) Limited
Biffa Holdings Limited
Biffa Leicester Limited
Biffa Municipal Limited
Biffa plc
Biffa Pension Scheme Trustees Limited
Biffa Polymers Limited
Biffa UK Group Limited
Biffa UK Limited
Biffa Waste Limited
Biffa Waste Management Limited
Biffa Waste Services Limited
Biffa West Sussex Holdco Limited
Biffa West Sussex Limited
Biogeneration Limited
Chiltern Skip Hire Limited
Chiltern Supplies Limited
Clarfield Recycling Limited
Commercial Waste Limited
Cressex Insurance Services Limited
De-Pack Limited
Descaling Contractors Limited
Ecovert DLS Limited
Ecovert Limited
Exclusive Cleansing Services Limited
G S EquityCo
GS Acquisitions Limited
Hales Waste Control Limited
Island Waste Services Limited
M. Joseph & Son (Birmingham) Limited
Materials Recovery Nominees Limited
MRL (Scotland) Limited
N E Waste Limited
Norwaste Limited
O'Brien Waste Recycling Solutions Holdings Limited
O'Brien Waste Recycling Solutions Limited
Photodigit Limited
Pilmuir Waste Disposal Limited
Poplars Resource Management Company Limited
Practical Recycling Systems Limited
R.A. Johnson (Haulage) Limited
Reclamation & Disposal Limited
Recycling & Resource Management Limited
Recyclite Limited
Reformation Disposal Services Limited
Rent-a-Weld (Wirral) Limited
Richard Biffa (Reclamation) Limited
Richard Biffa Limited
S.C.S. Contractors Limited
The Fosse Group Limited
Tyneside Wastepaper Co. Limited
UK Waste Management Holdings Limited
UK Waste Management Limited
Verdant Municipal Limited
W.R. Pollard & Son Limited
Waste Clearance (Holdings) Limited
Wastecare (GB) Limited
Wastedrive (Manchester) Limited
Wastedrive Limited
Wasteholdco 1 Limited
Wasteholdco 2 Limited
Wastelink Services Limited
Waterblast Limited
Weir Waste Services Limited
Wespack Limited
Westley Trading Limited
White Cross Limited
Withnell Brick & Terra Cotta Company (1912) Limited
Additional disclosures
In 2003, Ian Wakelin was a Non-Executive Director of Recycled Waste plc which went through a creditors' voluntary arrangement.
In 2012, while Ian Wakelin was Chief Executive Officer, Biffa plc went through a debt restructuring process with its lenders with total debt reduced from £1.1 billion to £520 million.
Biffa plc is being prosecuted for the alleged breach in 2015 of European Transfrontier Waste Regulations, while Ian Wakelin was Chief Executive Officer of the company. Biffa plc strongly refutes the allegations and Ian Wakelin has not been named or called to give evidence in the case.
