Simec Altantis says receivers appointed to major shareholder

Tue, 18th May 2021

Alternative energy group Simec Altantis said it had been informed that receivers had been appointed over all of the shares of its major shareholder, Simec UK Energy, which was a GFC Alliance member. Simec said it understood that Simec UK Energy owned about 43% of the issued share capital of Simec. 'The GFG Alliance has informed Simec that it intends to challenge the validity of the appointment and is seeking appropriate advice,' Simec said. 'For the avoidance of doubt, SAE wishes to make clear that the above process relates to its major shareholder, Simec UK Energy and not to Simec itself.' 'The GFG Alliance has also informed Simec that it wishes to make clear that Simec UK Energy is a holding company for the investment in Simec and the appointment of the receivers does not extend to the rest of the Simec group or other members of the GFG Alliance.' At 9:06am: (LON:SAE) Simec Atlantis Energy Limited Ord Npv Di share price was 0p at 20.5p Story provided by StockMarketWire.com

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