AIM Rule 17 - Schedule 2(g) update
Subsidiaries and joint venture placed into creditors voluntary liquidation as part of corporate restructuring.
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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.
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