AIM Rule 17 – Schedule 2(g) update
SAE provides the following update in accordance with AIM Rule 17 and Schedule 2(g) sub-paragraph (v) of the AIM Rules for Companies.
As part of a process to simplify SAE’s corporate structure and to wind up the dormant corporate entities, certain SAE subsidiaries and one joint venture of SAE have been placed into creditors voluntary liquidation (CVL)
- Atlantis Resources (Gujarat Tidal) Pte Limited (“ARGL”) entered into a CVL on 25 June 2025
- Sea Generation Limited (“SGL”) entered into a CVL on 30 December 2024
- NPA Fuels Limited (“NFL”), a joint venture, entered into a CVL on 26 November 2024
Graham Reid, Chief Executive Officer, is a director of ARGL, SGL and NFL. Simon Hirst, Chief Financial Officer, is a director of ARGL and SGL.
SAE is the primary creditor of these companies and the sums due to the parent company have been written off or fully impaired in the prior years’ financial statements.
| SAE | Sean Parsons, Director of External Affair | +44 (0)7739 832 446 |
| Strand Hanson Limited (Nominated and Financial Adviser) | Richard Johnson, Rory Murphy, David Asquith | +44 (0)20 7409 3494 |
| Zeus Capital Limited (Broker) | Louisa Waddell, Simon Johnson | +44 (0)20 3829 5000 |
Notes to Editors
SAE
SAE is a global developer, owner and operator of sustainable energy projects. SAE owns the world’s flagship tidal stream project, MeyGen, and the Uskmouth Power Station site, that is being repurposed into a sustainable energy park that will become one of the UK’s largest battery storage sites. https://www.saerenewables.com/
SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here.
SAE’s strategy: “Building a Sustainable Future to 2035”, can be viewed here.
