AMTE Power PLC Conversion of Convertible Loan Notes (1180H)
November 22 2022 - 1:00AM
UK Regulatory
TIDMAMTE
RNS Number : 1180H
AMTE Power PLC
22 November 2022
22 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH
IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
AMTE Power Plc
("AMTE Power" or the "Company")
Conversion of Convertible Loan Notes and Total Voting Rights
Further to the announcements dated 4 November and 17 October
2022, AMTE Power plc, a leading manufacturer of battery cells for
specialist markets, announces that the Company has received a
conversion notice in respect of GBP150,000 worth of convertible
loan notes from Arena Investors LP ("Arena") resulting in the issue
today of 245,514 new ordinary shares ("Ordinary Shares") of 0.5
pence each in the capital of the Company ("New Ordinary Shares") at
a conversion price of 61.0963 pence per New Ordinary Share.
Following the conversion, GBP2,850,000 remains outstanding for
conversion under the first tranche of GBP3 million of the
convertible bond facility with Arena which was signed on 4 November
2022.
The New Ordinary Shares will rank pari passu in all respects
with the existing Ordinary Shares. Application will be made to the
London Stock Exchange PLC for the admission of the New Ordinary
Shares to trading on AIM ( "Admission" ). It is anticipated that
Admission will occur at 8.00 a.m. on AIM on or around 25 November
2022.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 36,234,094 Ordinary Shares. As the Company does not hold
any shares in treasury, this figure of 36,234,094 Ordinary Shares
may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
The person responsible for arranging the release of this
announcement on behalf of the Company is Alan Hollis, Chief
Executive Officer of the Company.
Enquiries
AMTE Power plc +44 (0)1847 867 200
David Morgan (Chairman)
WH Ireland (NOMAD and Joint Broker) +44 (0)207 220 1666
Chris Fielding / James Bavister / Megan
Liddell (Corporate Finance)
Fraser Marshall (Corporate Broking)
Panmure Gordon (UK) Limited (Joint Broker) +44 (0)207 886 2500
John Prior / James Sinclair-Ford (Corporate
Finance)
Hugh Rich (Corporate Broking)
+44 (0)203 757 4992
Camarco (Financial PR) / 4981
Ginny Pulbrook / Rosie Driscoll
Notes to Editors:
AMTE Power was founded in 2013 and is a leading developer and
manufacturer of lithium-ion and sodium-ion battery cells for
specialist markets. In March 2021, the Company was admitted to
trading on the AIM market of the London Stock Exchange. The Company
is focused on launching a series of next generation battery cells
based on new chemistries and cell structures that are designed to
solve key problems in power delivery, energy performance, and
safety. These new products are targeted at a range of specialist
markets including the electric vehicle industry and energy storage
sector.
AMTE Power's purpose-built cell manufacturing facility in
Thurso, Scotland has the second largest cell manufacturing capacity
in the UK and the Company also has a product development team based
in Oxford. AMTE's proposed state-of-the-art MegaFactory in Dundee,
Scotland is expected to be operational and in production by Q3 2025
and will be capable of producing over 25,000 high added value
batteries per day enabling the Company to rapidly scale up cell
production.
For further information visit the Company's website:
www.amtepower.com
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END
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