ATOME Announces Placing and Subscription raises £1.8 million

Source: www.gulfoilandgas.com 2/19/2024, Location: Europe

HIGHLIGHTS
· The Company has today raised £1.8 million before expenses (the "Fundraising") through the issue of 3,600,000 new ordinary shares of 0.2 pence each in the Company at a price of 50 pence per share (the "Shares") through a Company-led subscription of 1,600,000 Shares (the "Subscription" or the "Subscription Shares") and a placing of 2,000,000 additional Shares to investors (the "Placing" or the "Placing Shares") also at 50 pence per share (the "Placing Price")
· As part of the Fundraising, certain directors and senior management in the Company have subscribed for Shares at a total cost of £665,000, demonstrating their ongoing financial support for the Company as shareholders and conviction in the future success of ATOME
· The Shares were issued at a price of 50 pence per share
· SP Angel Corporate Finance LLP ("SP Angel") acted as sole broker on the Placing
· The flagship Phase 1 145MW Villeta Project in Paraguay is legally contracted under a signed Power Purchase Agreement with the FEED study already commissioned and soon to be completed
· All of FEED, EPC, Offtake and Financing are targeted for 2024 with start of full production in 2026 when ATOME will become one of the largest producers of green fertiliser in the world
· The Company now has a global pipeline of green fertiliser projects of some 600MW

The Fundraising
The Board of ATOME, the green fertiliser company, is pleased to announce a Fundraising through a Company-led Subscription by certain directors and senior management of ATOME and other investors, together with a Placing conducted by SP Angel acting as sole broker, to raise gross proceeds of £1.8 million through the issue of 3,600,000 Shares at a price of 50p per Share. Shares issued under the Fundraising will rank pari passu with the Company's existing ordinary shares.

In aggregate, directors have subscribed for a total of 941,000 Shares representing 2.33% per cent. of the existing issued share capital. In addition to the directors, other senior management have subscribed for a total of 389,000 Shares.

The Fundraising is conditional only on admission of the Shares to trading on AIM which is expected to occur at 8.00 am on or around 22 February 2024.

Whilst Shares under the Placing has been fully taken up, ATOME reserves the right, within the Directors current authorities, to allocate at its discretion further new ordinary shares at the Placing Price should there be appropriate demand. Any allocation of additional new ordinary shares will be announced as soon as possible.

Any shareholder who has any questions should either themselves or their stockbrokers contact the Company or SP Angel respectively, using the contact details provided below, without delay. Note that SP Angel cannot advise or act for individuals or private investors.

Reasons for Fundraising
The Company will use the funds raised from the Fundraising to further expedite its growth and development of the green fertiliser Villeta Project in Paraguay including engineering and design works as well as for working capital.

Since Admission to AIM at the end of December 2021, ATOME has made significant progress, substantially beyond the Board's initial expectations at the time of the IPO, and within this short time is now at the forefront in developing large scale production projects of green fertiliser in Latin and Central America.

The significant further participation of directors and senior management in this Fundraising demonstrates their ongoing financial support for the Company as shareholders and conviction in the future success of Atome.

The Company now has a global pipeline of green projects of over 600MW, of which the flagship Phase 1 145MW Villeta Project in Paraguay is legally contracted under a signed Power Purchase Agreement with the FEED study already commissioned and soon to be completed and all of EPC, Offtake and Financing is targeted for 2024 with start of full production in 2026 when ATOME will become one of the largest producers of green fertiliser in the world.

An up-to-date investor presentation is available on the Company's website at www.atomeplc.com

Admission
Application will be made for the Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective at 8.00 am on or around 22 February 2024.

Concert Party interest
The members of the Concert Party (as defined in the Admission Document published on 17 December 2021) are currently interested in 44.53% of the existing issued share capital, reducing to 41.40% in the enlarged issued share capital on Admission. As the members of the Concert Party therefore currently hold and will continue to hold on Admission less than 50 per cent. of the Company's voting share capital but more than 30 per cent., for so long as they continue to be treated as acting in concert, any further increases in the Concert Party's interests in Ordinary Shares are subject to the provisions of Rule 9 of the Takeover Code.


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