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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Simec Atlantis Energy Limited | LSE:SAE | London | Ordinary Share | SG9999011118 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.85 | 921,414 | 08:00:03 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1.70 | 2.00 | 1.85 | 1.85 | 1.85 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Steam,gas,hydraulic Turbines | 15.45M | 25.39M | 0.0351 | 0.53 | 13.37M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 15:35:19 | O | 550,401 | 1.81 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 04/12/2024 | 13:56 | ALNC |  IN BRIEF: SIMEC Atlantis brings full power to MeyGen tidal stream site |
| 04/12/2024 | 07:00 | UK RNS | SIMEC Atlantis Energy Limited SAE brings full power to MeyGen tidal stream.. |
| 22/11/2024 | 12:59 | ALNC | SIMEC Atlantis receives penultimate payment from Uskmouth project |
| 22/11/2024 | 12:06 | UK RNS | SIMEC Atlantis Energy Limited SAE receives Uskmouth milestone payment |
| 05/11/2024 | 08:22 | UK RNS | SIMEC Atlantis Energy Limited SAE working with biggest names on MeyGen.. |
| 04/11/2024 | 14:01 | UK RNS | SIMEC Atlantis Energy Limited Politicians visit Uskmouth site |
| 18/10/2024 | 10:44 | UK RNS | SIMEC Atlantis Energy Limited SAE Presentation via Investor Meet Company |
| 27/9/2024 | 07:00 | UK RNS | SIMEC Atlantis Energy Limited SAE launches updated website and new logo |
| 26/9/2024 | 18:33 | ALNC | EARNINGS: Hansard Global profit down; Flowtech cuts outlook |
| 26/9/2024 | 06:00 | UK RNS | SIMEC Atlantis Energy Limited Interim results |
Simec Atlantis Energy (SAE) Share Charts1 Year Simec Atlantis Energy Chart |
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1 Month Simec Atlantis Energy Chart |
Intraday Simec Atlantis Energy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 04/12/2024 | 07:17 | SIMEC Atlantis Energy | 3,534 |
| 05/11/2024 | 09:28 | SIMEC Atlantis Energy | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 15/12/2024 08:20 by Simec Atlantis Energy Daily Update Simec Atlantis Energy Limited is listed in the Steam,gas,hydraulic Turbines sector of the London Stock Exchange with ticker SAE. The last closing price for Simec Atlantis Energy was 1.85p.Simec Atlantis Energy currently has 722,812,335 shares in issue. The market capitalisation of Simec Atlantis Energy is £13,372,028. Simec Atlantis Energy has a price to earnings ratio (PE ratio) of 0.53. This morning SAE shares opened at 1.85p |
Posted at 04/12/2024 07:17 by wheeze SAE brings full power to MeyGen tidal stream site SAE is pleased to announce that, following the successful deployment of turbine 4, the world leading MeyGen tidal stream site now has all four turbines fully operational. This means that the site is now at full power for the first time, delivering 6MW of predictable, renewable power. |
Posted at 25/11/2024 09:47 by wheeze Is there *ANY* evidence of *ANY* short sellers in Simec? https://shorttracker |
Posted at 22/11/2024 12:50 by skinny SAE is pleased to announce it has received the penultimate milestone payment of £1.5m under its agreement with EL (Uskmouth) Limited ("EL"), a subsidiary of FPC Electric Land.On 5 December 2023, SAE announced that it had agreed to sell the freehold land owned by SAE to EL, for a milestone-linked total gross cash consideration of £9.8m. The land is being used for a 460MWh (230MW) BESS being constructed by Uskmouth Energy Storage Limited. The EL land represents only a small proportion of the land owned by SAE at the Uskmouth site available for BESS project development. The milestone payment was received following the successful completion of civil works at the site. Today's announcement marks the third milestone payment. The first £5.0m payment was received on 28 March 2024, and the second £2.0m payment was received on 28 May 2024. SAE looks forward to the continued good progress being made on the project. The final milestone will be paid following the delivery of 10% of the batteries for the project. SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here |
Posted at 11/11/2024 08:49 by robertspc1 Further to earlier post, I think Meygen has been a poison pill for investors in SAE, and once it has been recapitalised by new investors, SAEs development pipeline will attract the attention of strategic investors. First step would be someone Eg Octopus or Quinbrook buying the SIMEC 30 per cent stake. |
Posted at 11/11/2024 08:37 by robertspc1 For me the main value in SAE remains the Uskmouth site. Obviously lots of BESS potential and thankfully that market is improving, see GRID statement today. Meygen has debt it can't service and is still risky immature technology. SAE don't have the funds to invest in it and it needs GBE or others to recapitalise it with SAE becoming a minority shareholder. That has to happen to soon as debt repayments due end Nov. |
Posted at 08/11/2024 13:47 by jaknife Wheeze,Thank you for the considered response. Your post 3,484 talked about share price manipulation as the reason for the downward movement in the share price. What I was really trying to do with my response is highlight that there are very good reasons for the decline in Simec’s share price. In post 3,486 you talk about the MeyGen project being “visionary&rdq * Running at a material loss – a negative gross profit margin of minus 88.9% in 2023! * Massive debts * negative tangible net equity None of this makes for a good investment. All such companies will eventually become bust and hence the share price of all such companies eventually will tend to zero! The point of investing in shares is to make money, if the underlying business always makes losses then it’s unlikely that the value of the business, and hence the value of the shares, will go up. JakNife |
Posted at 07/11/2024 19:51 by jaknife wheeze,"There is mischief afoot." The real "mischief" is that Simec's directors have conned you into thinking that it's a half decent business when the reality is that Simec is a total and utter pile of poo! Open your eyes and look at the results: Year net profit2018 loss of £22.6m2019 loss of £34.9m2020 loss of £19.1m2021 loss of £67.6m2022 loss of £90.7m2023 profit of £25.4m And then you find out that in 2023 they included in the P&L a "fair value adjustment for land/property" of £28.2m and a further property revaluation of £23.1m. Both of these were non-cash adjustments and, without them, the real profit was a loss of £25.9m! If you don't like this then look at the cash burn 2018 - £20m placing at 35p a share in May 2019 - £5m placing at 16p a share in March 2020 - £6.5m placing at 12p a share in August 2021 - £2.6m placing at 2.6p a share in September On top of that they've also raised c. £14m in bonds from retail investors that they've then had to renegotiate as they didn't/couldn't repay them when they had promised to do so. All of this cash has disappeared! Some has gone on pointless vanity projects that have failed to generate sensible returns. A good chunk has gone on rewards for failure for the directors. And notice the pattern of the ever decreasing share price on the placings? Simec is, quite simply, a dreadful business. Its core business of generating electricity from tidal power is horribly loss-making and the business is burdened with significant debt. The directors overpay themselves whilst delivering losses for shareholders and dressing up the accounts with dubious accounting. It only continues to survive because it's tapped shareholders on a regular basis for more cash and it's borrowed large amounts of cash from unsophisticated retail investors. Those bonds now carry coupons of between 10% to as high as 13% and have had their scheduled maturity date pushed back to the end of 2029. But how will they ever be repaid if Simec simply pretends to make profits when it really makes losses and burns cash? There's the possibility of another battery storage project though and that would keep the wolves from the door a little longer, as well as keeping the directors richly rewarded. But once the regular bills are paid will there be enough to repay the bonds? And, if the bonds can't be repaid, then why should shareholders expect anything? JakNife |
Posted at 04/11/2024 14:17 by ttcroft 4 November 2024 Pre cursor to green funding from Labour?SIMEC Atlantis Energy Limited("SAE Renewables", "SAE" or the "Company") Politicians see first-hand the scale, opportunity and regeneration of the Uskmouth site SAE was delighted on Friday 1 November 2024, to welcome Jessica Morden, the Member of Parliament for Newport East, John Griffiths, the Member of the Senedd for Newport East, and Dimitri Batrouni, the Leader of Newport City Council, to the Uskmouth site. SAE Chairman, Duncan Black, and CEO, Graham Reid, along with senior SAE team members, welcomed the politicians to the Uskmouth Sustainable Energy Park. SAE has been transforming the Uskmouth site. Once home to a coal fired power station, SAE has utilised the existing infrastructure, land and grid connection to turn it into one of the largest Battery Storage sites in the UK. With one project already in construction and the next due to start construction next year, SAE is making rapid progress in the delivery of over 2GWh of Battery Storage projects, with the potential to expand to over 3.5GWh in the future with longer duration batteries in the future. |
Posted at 26/9/2024 06:14 by wheeze RNS of interim results SAE received £7.0 million from the land sale contract with EL (Uskmouth) Ltd· SAE acquired 100% ownership of the AW1 120MW/240MWh Battery Energy Storage System ("BESS") project· SAE submitted a planning application for Section 36 consent for the 300MW/1.2GWh "Mey BESS" project in the North of Scotland.· The consolidated cash position of the Group as at 30 June 2024 was £7.7 million (as at 30 June 2023: £2.3 million)· The Group reported revenues of £12.1 million for the six months ended 30 June 2024 compared to revenues of £12.4m for the same period in 2023· The loss before tax of £6.0 million for the six-month period to 30 June 2024 (H1 2023: profit £4.5 million) was largely a result of the profit on the land sale contract with EL (Uskmouth) Ltd having been recognised in 2023 whilst the revenue from the sale was realised during 2024. |
Posted at 11/6/2024 11:28 by wheeze Application for up to 300MW / 1.2GWh Scotland BESS project SAE is pleased to announce that it has submitted an application for Section 36 consent to the Scottish Government's Energy Consents Unit for a battery energy storage system ("BESS") project of up to 300MW, sized for up to 4 hours duration (1.2GWh). The project, named "Mey BESS", will be located inland, 5.5km southwest of SAE's MeyGen tidal project, 0.5 km southeast of the village of Mey in Caithness and located adjacent to the planned and fully consented SSE Gills Bay 132kV substation project. SAE has secured all the necessary land rights and 287MW of both import and export grid capacity to allow for the BESS project to be built. The grid capacity is planned to be shared between Mey BESS and the Company's MeyGen tidal array with 207MW being utilised exclusively for BESS and the balance of 80MW secured for the expansion of the MeyGen tidal stream project. The consent application is sized at 300MW to allow for further expansion from 207MW to 300MW which would be subject to future grid applications. The grid connection and all infrastructure is consented and ready to be built, with an anticipated completion of April 2027. It is expected that the Mey BESS project will initially be built using 2 hour duration batteries to give an output capacity of 414MWh, with the site layout sized in the planning application to allow for expansion using 4-hour duration batteries of up to 300MW/1.2GWh. The development rights in the project are held by Mey Energy Storage Limited, which is owned 84% by SAE and 16% by Scottish Enterprise. SAE have significant presence and operations experience in the local area, having been operating the MeyGen tidal array in Caithness for many years. The dedicated project page will be available at: www.saerenewables.co |
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