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Thank you for your email, copied below, regarding AMTE Power plc (the "Company").
AIM Regulation considers all enquiries as regards the conduct of AIM companies and nominated advisers in respect of their compliance with the AIM Rules for Companies (“AIM Rules”) and for Nominated Advisers (“Nomad Rules”) and takes action where appropriate.
Please note that AIM Regulation's remit does not extend beyond the AIM Rules and Nomad Rules. Further information regarding the remit of AIM Regulation, and that of other regulators and competent authorities, can be found at the following AIM Regulatory Landscape, but it may also be of assistance to you to note that:
a) The terms of the sale of the Company’s trading business and certain assets of the Company to LionVolt Ltd, was undertaken by the joint administrators to the Company, FRP Advisory Trading Limited (“Joint Administrators”). Accordingly, you may wish to raise any concerns you may have over the transaction directly with the Joint Administrators who can be contacted by email on amtepowershareholders@frpadvisory.com. If you have not done so already, you may also wish to refer to the Joint Administrators’ report available here, which sets out the history of the transaction and other options explored by the Joint Administrators.
b) The Financial Conduct Authority (“FCA”) is the competent authority with statutory remit to investigate alleged breaches of the Market Abuse Regulation. Should you wish to communicate directly with the FCA you can do so by completing a webform on the FCA’s website (available here), or by writing to Market Integrity Unit, Primary Market Oversight Department, Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN.
c) Any allegation of fraud can be raised with the Serious Fraud Office or with Action Fraud via: https://www.sfo.gov.uk/contact-us/reporting-serious-fraud-bribery-corruption/ and https://www.actionfraud.police.uk/reporting-fraud-and-cyber-crime.
As indicated, we can assure you that we consider all enquiries and investigate alleged breaches of our rules. In this regard, if you have evidence that the Company has breached its AIM Rules obligations, please provide details and supporting evidence so we can consider. However, you will appreciate that confidentiality is essential in maintaining the integrity of our work and, accordingly, please note we are unable to comment on company specific matters or provide updates.
We trust the above is of assistance to you.
Kind regards
AIM REGULATION
I have just submitted a lengthy email to aimregulation@lseg.com, which is in addition to my submissions to the FCA and SFO.
I would like to say a massive thanks to the person running the AMTE Corruption Facebook group for all their hard work.
I have submitted the following complaint to the FCA and to the SFO. No harm trying for the sake of 5 mins effort:
As a shareholder of AMTE Power Plc, I wish to report the behaviour of the board, in particular the former CEO Kevin Brundish, along with administrators FRP with regard to potential market manipulation and insider dealing prior to Lion-Volt B.V. acquiring AMTE Power Plc assets. The current CEO of Lion-Volt B.V. is former AMTE Power Plc CEO Kevin Brundish who left AMTE Power Plc as recently as September 2023.
I allege that AMTE Power Plc, in collusion with a potentially imaginary ghost company called 'Pinnacle International Capitol Corp', together lured fresh investors into the fold under the guise of a golden ticket deal that would save the company. A 2023 placing was then conveniently flipped prior to the market being informed of the deal being 'sabotaged'.
It has been leaked that 3 deals were being considered by AMTE Power, with 2 out of the 3 deals preserving both the trading of the company and the preservation of the listing and thus shareholder value. Only the 3rd offer preserved the positions of the board, via the company going into administration and execution of shareholders and being bought in pre-pack deal by a Dutch company called Lion-volt B.V., whose CEO is former AMTE Power Plc CEO Kevin Brundish.
Is there any benefit in obtaining share certificates for AMTE holding in an ISA or SIPP? Will current holdings just disappear completely with no proof of previous ownership? Thanks for any advice. I have tried searching for online advice but not had much success.
No RNS today...do they seriouasy feel that there is nothing of note to update sharehokders and thd market about?
Only 6 intermediaries appeared to even sign up for the retail offer, mine didn't.
https://www.bookbuild.live/deals/N674M1/authorised-intermediaries
Market cap of £3.4 million at the moment.
Rags I am raging, although there is nothing I can do about it.
I am approximately £10k worse off than if we had accepted the Newmed deal. Even if by some miracle the SP goes back to 270, we only have half the number of shares now. And why would it go to 270p on the basis of the Egypt asset and some legacy payments?
What benefit did the one billion tax rebate provide shareholders?
I am not terribly impressed with the activist shareholders turning down the 270p Newmed deal and then watching my investment plummet to 245p a share before the return of capital RNS and now 210p today.
Have they spectacularly messed up or am I missing something? Does it all suddenly work out ok when there are only 150 million ish shares next week? Do they receive 100 to 200 million dollars legacy payments and also sell Egypt and receive perhaps 300 million dollars and then return that to 150 million shares? If that is such a good deal why is the share price 210p today?
I have just had a little dabble at 572. I have been a holder in the past and back in again.
An issue might be for people holding large amounts in an ISA or SIPP. It takes time to add money into a SIPP and the new ISA period isn't for a couple of days so at the moment people might just not be able to add anything to take up the RI.
I am hoping for good news on the Dundee factory. The UK, not just Scotland, could do with some good battery manufacturing news. I don't mind if it requires a fundraise from shareholders, happy to do so if it means the factory can be built.
Yes thanks. Plenty available at 56p now.
I had a £2k auto buy at 61p order sat for days not filling for the last week even with it dipping under 59p for long periods.
I tried dummy manual buys and they were not going through in chunks of 500 quid or above.
There don't seem to be a lot of shares for sale.
They are going to be manufacturing 60,000 batteries per year for the next 2 years. For ease let's say they sell for 100 quid each, that is 6 million revenue per year of which let's say 0.5 million profit? That will keep them ticking over and help optimise production.
I bought another chunk at 64.4p just before the bell today (it shows up as a sale on the trades but it was a buy for me). I am now ridiculously loaded up on this AIM company.
As I am sure you have seen, the RNS at 16:35 says results tomorrow.