Member Info for Dunk_Biscuit

Pinnacle specialises in real estate development and company buyouts. Could perhaps be interested in Britishvolt 's gigafactory site and merge it with Amte .

USA company....so Tesla might get involved at some point ....who knows ..but lots of options opening up here !

Britishvolt said it had an investor in the background I wonder if it's the same ?

Here's an article about Amte ...

https://www.energyvoice.com/renewables-energy-transition/storage/541492/cash-strapped-thurso-battery-firm-amte-power-unveils-2-5-million-buyout-deal/

The last rns seems to imply that the new equity investor will keep the company afloat during this period before completion of the £2.5 million subscription by providing the shortfall of cash in exchange for a convertible loan note issued by amte .Unless another investor is providing the funds in exchange of a convertible loan note.... but I doubt it as they would have to absolutely sure that the new equity investor will go ahead to completion.

They are negotiating a convertible loan note with the new "equity investor" rather than a bridging loan with another third party and this will

cover the period until completion of the new issue of £2.5 million of shares with the new equity investor which is separate from the convertible loan note .

. That's how I have read it . Could be wrong though.

Amte is part of the green energy movement . Surely if the UK is serious about reducing it's carbon footprint the government should step in and help if all else fails 🤔 Where are they when they are needed ??

Let's hope the new investor can save the company . It has great potential and a listing on the AIM . If it goes into administration all staff will immediately lose their jobs and there won't be a company . It will be broken up into almost worthless parts and who wants that to happen .

The due diligence was estimated to be completed by the end of October so I guess it takes a while after that to go ahead . There must be lots of legal matters to deal with . The lender of any bridging loan will know who the new investor is so that shouldn't be an issue .

The good thing is the new investor hasn't pulled out , otherwise they would have had to announce it . On the contrary they have made " good progress " and it's just a matter of securing funds until the deal has been completed .

They have enough money to last until the 27th of November but no more money after that date . Certainly not enough to last until the completion of the funding by the new investor. So they have to come up with some more funds to last until the completion takes place whenever that might be . Next month perhaps .

Amte is showing about £2.3 million in their balance sheet for property , plant and equipment so I hope a loan could be secured on those assets .

If the new investor decides to invest then that loan could be converted from a bridging loan to a longer term loan but still secured on those assets .

Amte should be able to get a bridging loan secured on it's bricks and mortar assets . If it should go into administration that bridging loan will be paid off with the sale of the assets . So it should be fairly straightforward to achieve that . The "good progress " comment sounds encouraging to me .

It would be a reverse takeover which needs lots of DD

https://www.investopedia.com/articles/stocks/09/introduction-reverse-mergers.asp

AceOn might be interested but not sure what their cash situation is ....

https://www.aceongroup.com/news/aceon-powers-ahead-in-2022-as-export-success-and-commercial-storage-brings-in-record-revenues/

Household energy suppliers will encourage households to contribute to the grid . Solar panel efficiency has improved greatly and costs have fallen dramatically over the past decade. It's a market opportunity for AMTE who are ready to roll out their ultra safe sodium ion battery. Watch this space !

Dyor etc etc 👍 Good luck !

Https://www.independent.co.uk/tech/solar-panels-energy-grid-uk-b2444279.html

Here they are ...

https://www.lse.co.uk/rns/drilling-completed-at-paterson-south-project-1vjr2qktfq74o44.html

It's in the 'History ' section under the heading takeover by Recharge Industries

If you scroll down towards the bottom of this link you can see the company which bought Britishvolt wants to start supplying batteries for green energy and high performance cars...exactly the same as AMTE !

https://en.m.wikipedia.org/wiki/Britishvolt#:~:text=Britishvolt%20is%20a%20UK%20startup,2022%20due%20to%20funding%20difficulties.

Britishvolt would become a subsidiary of AMTE and start making batteries for the Australian Army .

Possibly it could be the same investor looking for a factory site . It would make sense to merge the two companies together somehow ...if the potential investor wants to build a mega factory in the uk .

Let's hope the same story doesn't happen with AMTE ! But it all sounds like rather a familiar story 🤔 I'm hopeful that AMTE's new potential investor will have deep pockets !

BBC News - Recharge Industries: Britishvolt buyer failed to pay UK staff for months

https://www.bbc.co.uk/news/business-67312309