London – Atlantis Resources Limited (“Atlantis” or the “Group”), a vertically integrated turbine supplier and project owner in the tidal power industry, is pleased to announce the commencement at 08.00 today of dealings in its Ordinary Shares on AIM, a market operated by the London Stock Exchange plc. 


Admission Details


  • The Group has raised approximately £12 million before expenses through the placing of 12,765,957 new shares (the “Placing“) at a placing price of 94 pence per Ordinary Share (the “Placing Price”).


  • The total number of Ordinary Shares in issue at Admission is 76,704,200, giving the Group a market capitalisation of £72.1 million at the Placing Price.


  • The Group intends to use the net proceeds of the Placing to fund its contribution to the MeyGen Project, to deliver the Group’s AR1500 detailed design with Lockheed Martin Corporation, and to prepare its AR1000 turbine for deployment in a demonstration project in China.


  • The Group’s trading symbol is ARL and the Group’s ISIN code is SG9999011118.


N+1 Singer Advisory LLP (“N+1 Singer“) acted as Nominated Advisor and sole Broker to the Group.


John Neill, Non-Executive Chairman of Atlantis Resources Limited commented:


This fundraising and admission to AIM marks an important milestone for Atlantis and provides funding for development of the Group’s cornerstone MeyGen Project in Scotland, the world’s largest tidal energy power project.  We were delighted to secure more than £8 million in non-dilutive funding during the course of the road show, which in combination with the Placing exceeds our planned target raise of £20 million.

“Atlantis has the largest and most diversified development pipeline in the industry with projects across four continents, and a further pipeline of projects in planning in a number of jurisdictions.” 


Terms defined in the admission document dated 19 February 2014 have the same meaning as when used in this announcement. The admission document is available on the Group’s website:


For further information please contact:


Atlantis Resources Limited

via FTI Consulting

Tim Cornelius, Chief Executive Officer


Duncan Black, Chief Financial Officer




N+1 Singer Advisory LLP

+44 (0) 20 7496 3000

Andrew Craig / Ben Wright / Alex Wright




FTI Consulting

+44 (0) 20 7831 3113

Ben Brewerton / Alex Beagley / James Styles



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About Atlantis Resources Limited

Atlantis Resources Limited is a vertically integrated turbine supplier and project developer in the tidal power industry. The Group holds equity positions in a diverse portfolio of tidal stream development projects, which includes 100 per cent. ownership of MeyGen Limited, the company developing the MeyGen Project in Scotland. The Directors believe that the MeyGen Project is the largest consented tidal stream power project in Europe, and is scheduled to commence power production in 2015. Alongside its project development interests, the Group owns a portfolio of patents and patent applications relating to tidal power generation and sells tidal generation equipment and engineering services to third party developers as well as its own projects. The Group, which is revenue generating, also conducts industrial research and development and provides specialist consulting services globally.

The Directors believe that the combination of rigorously developed technology and a geographically diverse portfolio have positioned the Group well for future growth. Atlantis has exclusive agreements with a range of international industrial partners; Lockheed Martin Corporation is working with Atlantis to complete the detailed design and systems integration of the Group’s 1.5MW AR1500 turbine, and the Directors believe that future low cost manufacturing can be achieved through the Group’s strategic agreement with Dongfang Electric Machinery Co. Ltd. In the projects sphere, the Group is working with Lockheed and Irving Shipbuilding in Canada and Gujarat Power Corporation Limited in India, and is in discussions with The Crown Estate, the Department of Energy and Climate Change and the Scottish government for the delivery of the MeyGen Project.

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