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IN BRIEF: AMTE Power converts GBP150,000 of loan notes into shares

Tue, 22nd Nov 2022 17:07

AMTE Power PLC - London-based manufacturer of battery cells with a facility in Thurso, Scotland - Receives conversion notice in respect of GBP150,000 worth of convertible loan notes from Arena Investors LP, resulting in the issue of 245,514 new shares at a conversion price of 61.10 pence each.

Following the conversion, GBP2.9 million remains outstanding for conversion under the first tranche of GBP3 million of the convertible bond facility with Arena, which was signed on November 4.

Current stock price: 67.00 pence

12-month change: down 56%

By Sophie Rose; sophierose@alliancenews.com

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