Sale of minority stake again implies valuation significantly above current market cap

While the primary focus for investors remains the successful delivery of power to the grid for the Group’s flagship MayGen tidal power project later in 2016, recent announcements from the global leader in the tidal power sector have been extremely positive. The latest news of the sale of a minority stake in the Group’s Scottish tidal development company yet again implies a valuation for the Group far in excess of the current market capitalisation.