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It does look as if they are trying to save the company and jobs as a whole and not selling bits off .
Pre-pack/newco fxck the creditors and Share holders - 2 heads with one chop!
I can't see them wanting the current BOD anywhere near the wheel house of their new ship, if they're planning to continue business as usual. Alan will surely be given the chop. He literally abandoned ship months ago, missing in action, AWOL. I hope they make him walk the plank and feed him to the sharks !
Theres Speculation about those ex Elon Thrush mob DGI? Possibly being the new buyer
Based on Michelle, if the prepack conditions are aiming towards continuity of operations then continuity it could be. Conditions have been set prior to appointment of administrators.
You may say that but big was right, you loser.
Maybe listen to an alternative view next time
Yeah, it's pre-pack. An extension would of been granted if they were in advanced negotiations. I think whoever is buying will be getting Rid of the BOD regardless. Why would you want to keep the people/crew/captain who sunk the ship in the first place
The announcement of sale is usually hot on the heels of the appointment of Admin - so early next week we'll know who r@ped us
Ok. So is this the end of the shares or AMTE sells out to a buyer and they keep the shareholders?? I would of thought a very slim chance to none....
Michelle's qoute -
Michelle Elliott, partner at FRP and another of the joint administrators, said: “The administration provides the necessary platform as we look to secure a viable transaction to protect the business. AMTE Power is operational and trading, and all staff remain employed.”
A article with direct quotes from FRP
https://www.johnogroat-journal.co.uk/news/administrators-appointed-at-amte-power-as-advanced-discussi-339583/
I'll cite the qoutes below, just in case people can't read the article, as I has to subscribe -
"The joint administrators are in advanced discussions with a party regarding a transaction that could enable the transfer of staff and sale of the business."
Mr Bloomfield, director at FRP and one of the joint administrators, said: “We remain in positive discussions with an interested party and are working hard to conclude a deal that can transfer jobs, provide continuity for the business, and support our statutory duties to creditors.”
It states 'joint admin' this Michele lassy works for some other mob also
Pinnacle is the one to blame
Amte has gone will not see lse again
'This message has been filtered, please adjust your filters to view'
Side line nonces still talking to themselves - how sad
No contracts, no volume capability, miles from anywhere and a pipedream in Dundee-only difference from BV was they had some interesting chemistry.
The valuation on IPO was a joke-and as I said a few days ago, it’s a trade and asset deal with the secured creditors getting all the value.
Nothing to do with the government-just a company with a crap plan in a low margin sector.I got pilloried for saying all this-thankfully they suspended the shares to stop the insane ramping
Yeah, you can get of your soap box now horis - no one cares
Fundamentally we are seeing the collapse of the west in real time.
The leaders of the country are feckless and lining their pockets, at least with the old patrician society cared to keep standards up and the region safe.
Aye, the 'blame the big bad migrants' cop out 🤣
It was white n British morons who sunk the AMTE ship Horis, not migrants
Leave the bigoted rhetoric of the board
The only bonus to come out of this = this LSE board getting nuked
Horis-AMTE had a terrible business plan.Trust me-it was unfundable if you know anything about the sector
Tata battery factory is doomed, the costings will be too much for them to "hid" some of that £500m to consider it profit. Tata operate as a "too big to fail'" corporate, that eats up what it can and turns high quality to cheap mass production.
Now Britishvolt and AMTE are done, there is no hope for UK manufacturing or industry.
The only people making money are landlords, and they rely on rampant migration to keep their properties full, and add nothing to the economy. The wealth extraction by landlords is why their no free cash for consumer spending or in bank to keep inflation down.
It takes one more Suze canal problem or a wobble of the economy and this whole house of cards will collapse. Western Europe will become a mad max zone, so best get your passports ready to move to eastern Europe for safety.
And the Government GIVING TATA £500 million"Then TATA making 3000 redundant
Good thing they are importing so many third world people into the UK, within another 5 years it will be a third world back water itself
Sorry to see that for all of you-onwards and upwards
AMTE Power PLC
Companies - Application - Notice of Appointment to appoint an administrator
Filed Date 19-01-2024 10:49 AM
Case number CR-2024-000082
Somewhere over the rainbow
RNS next week to announce the sale of assets
Happy weekend all that’s more money down the pan.
Oh well there’s always another day somewhere
Pre-pack it is boys
Calling it, the UK is completely doomed.