Directorate Change and Appointment of J.P. Morgan

RNS Number : 6739N
SIMEC Atlantis Energy Limited
22 January 2019
 

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




Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)

+44 (0)20 7894 7000

Rick Thompson

Richard Salmond

David Porter




J.P. Morgan Cazenove (Adviser and Joint Broker)

+44 (0) 20 7742 4000

James Deal

Michael Wentworth Stanley

 


 

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.

 


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