Shares in Scottish renewables firm Simec Atlantis Energy (SAE) have plunged after it raised £2.6million from investors in a placing announced last night.
Shares in renewables developer Simec Atlantis Energy have soared after the company confirmed its major shareholder had regained control
Simec Atlantis Energy in ‘productive discussions’ with receivers appointed over majority shareholder
Renewables developer Simec Atlantis Energy (SAE) has said it is in “productive discussions” with receivers appointed over its majority shareholder, which is part of the troubled GFG Alliance international metals group.
Renewables developer Simec Atlantis Energy issued an update on Wednesday as to the current state of play regarding its major shareholder.
Shares in Simec Atlantis Energy (SAE) have dropped 30% after the tidal power developer disclosed that receivers are trying to take control of a significant portion of its shares held by the Sanjeev Gupta GFG Alliance.
International metals group GFG Alliance, which owns Fort William aluminium smelter, is under investigation by the Serious Fraud Office (SFO).
The removal of UK Government subsidy in 2017 left the burgeoning Scottish tidal energy sector in crisis.
The head of GFG Alliance, which owns Fort William smelter, has said completion of its acquisition of Europe’s largest aluminium plant, in France, will enable the company to “expand powerfully in key industries such as the automotive sector.”
Marine energy firm Atlantis Resources today announced plans to raise £20million through the placement of up 57.1million shares.
One of the most surprising chapters in the industrial history of the Highlands opened with a chat between a global tycoon and a Scottish Government minister on a car journey to an airport last year.
Liberty House has confirmed it will put in a formal bid to buy Tata Steel’s UK assets.