Atlantis Resources Limited OEEconfirms No implications for existing EUfunding (5671D)

TIDMARL

RNS Number : 5671D

Atlantis Resources Limited

07 July 2016

Thursday 7 July 2016

Atlantis Resources Limited

("Atlantis" or the "Company")

EU confirms Brexit has No implications for existing EU funding for UK companies

Atlantis welcomes a statement from Ocean Energy Europe ("OEE") confirming that there will be no impact on existing EU funding of UK companies as a result of Brexit.

The European Commission has assured OEE that all existing contracts to award Commission funds (including Horizon 2020, LIFE, NER 300) and all financing contracts with the European Investment Bank for companies and organisations in the UK are still valid and binding.

Moreover, for as long as the UK is a member of the European Union, companies and organisations in the UK have the right to apply for funding or financing under new calls or programmes.

Once the UK Government formally notifies the EU of its decision to cease membership, the process and negotiations could last several years. Jean-Claude Juncker, President of the European Commission, confirmed that "until this process of negotiations is over, the United Kingdom remains a member of the European Union, with all the rights and obligations that derive from this. (...) EU law continues to apply to the full to and in the United Kingdom."

Enquiries:

 
 Atlantis Resources                  via FTI Consulting 
 Tim Cornelius, Chief Executive 
  Officer 
 Simon Counsell, Chief Financial 
  Officer 
 Peel Hunt LLP (Nominated Adviser    [phone] 
  and Broker)                         8900 
 Adrian Trimmings 
  Jock Maxwell Macdonald 
  Euan Brown 
                                     [phone] 
 FTI Consulting                       1000 
 Ben Brewerton 
  Alex Beagley 
  Stephanie Blott 
  James Styles 
 Lochend Wind Energy                 [phone] 
 Alex Dalton 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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July 07, 2016 06:50 ET (10:50 GMT)