9th Jun 2021 12:09
Simec Atlantis Energy Ltd - Edinburgh-based tidal energy producer - Announces the Gupta Family Group Alliance has started proceedings in the British Virgin Islands challenging the receivership of Simec UK Energy Holdings Ltd. Simec UK Energy Holdings is a member of the GFG Alliance and the largest shareholder of Simec Atlantis Energy, with a 43% stake.
Separately, the receivers told Simec Atlantis Energy that they will seek a waiver to a rule requiring them to make a takeover offer.
Simec Atlantis Energy has previously stressed it is not a member of the GFG Alliance, which is being investigated by the UK Serious Fraud Office following the collapse of its lender Greensill Capital.
Current stock price: 6.73 pence
Year-to-date change: down 69%
By Ivan Edwards; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
SIMEC Atlantis Energy