Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAMPH.L Regulatory News (AMPH)

  • There is currently no data for AMPH

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Acquisition

4 Sep 2017 12:55

RNS Number : 7481P
Aggregated Micro Power Holdings PLC
04 September 2017
 

Aggregated Micro Power Holdings plc

("AMP", the "Group" or the "Company")

 

Acquisition of wood pellet assets and customer base from CPL Distribution Limited

 

Aggregated Micro Power Holdings plc (AIM: AMPH), a distributed energy company specialising in the sale of wood fuels and the financing and installation of distributed energy projects including biomass boiler ESCOs (Energy Supply Contracts), stand by power generation and battery storage facilities, is pleased to announce that it has today completed the acquisition of the wood pellet assets and customer base of CPL Distribution Limited ("CPL") for cash consideration of £485,000, to be financed from AMP's existing cash resources (the "Acquisition").

In the year ended 31 March 2017, CPL's wood pellet customer base delivered revenue of £5.1 million (unaudited). AMP is acquiring a customer base and assets which have been part of CPL's wider fuels distribution business. In AMP's audited results for the year ended 31 March 2017, the wood fuel operating segment, Forest Fuels, reported revenue of £15.8 million and profit from operations of £426,000; on a historical pro forma basis, an additional £5.1 million of turnover would equate to an additional profit from operations of £137,500. No statement in this announcement is intended to be a profit forecast or estimate and no statement in this announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company. In addition to the customer base, the assets acquired relate to vehicles and machinery. Eight members of CPL staff are joining AMP.

Richard Burrell, Chief Executive of Aggregated Micro Power Holdings plc, said:

"CPL has built a strong and well-regarded business in the wood pellet market in England over the last five years, with approximately 1,200 customers. The Acquisition is in line with AMP's strategy to expand Forest Fuels with strategic in-fill acquisitions to build on its existing customer base in the wood fuels market."

 

Contacts

Aggregated Micro Power Holdings plc

020 7382 7800

Neil Eckert, Executive Chairman

Richard Burrell, CEO

Helene Crook, Investor Relations

 

Haggie Partners

Peter Rigby / Brian Norris

 

020 7562 4444

finnCap Ltd

Ed Frisby/Simon Hicks (Corporate Finance)

Stephen Norcross (Corporate Broking)

 

020 7220 0500

020 7220 0513

 

 

About Aggregated Micro Power Holdings plc

 

The AMP Group was established to develop, own and operate renewable energy generating facilities. It specialises in the sale of wood fuels and in the installation of distributed energy projects. AMP's wholly owned subsidiary Forest Fuels sells high quality wood chip and wood pellet to end customers throughout the UK, while its projects division installs biomass boiler and biomass CHP systems for a wide range of applications and customers. AMP is also active in developing projects for stand-by power generation and battery storage facilities which aim to balance the transmission grid at times of peak demand. www.ampplc.co.uk

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQKMGGLMDMGNZM
Date   Source Headline
17th Jan 20203:36 pmRNSCompletion of Acquisition by BidCo & Incubex Sale
17th Jan 20207:30 amRNSSuspension - Aggregated Micro Power Holdings Plc
15th Jan 20204:17 pmRNSSanction of Scheme, Equity Issue & Suspension
10th Jan 20205:30 pmRNSAggregated Micro Power Holdings
8th Jan 20205:47 pmRNSResults of the Court Meeting and General Meeting
19th Dec 20197:00 amRNSHalf-year Report
16th Dec 20192:56 pmRNSForm 8.3 - Aggregated Micro Power Holdings plc
13th Dec 20193:51 pmRNSPUBLICATION OF THE SCHEME DOCUMENT
13th Dec 20191:14 pmRNSForm 8.3 - Aggregated Micro Power Holdings PLC
12th Dec 20195:46 pmRNSForm 8.3 - Aggregated Micro Power Holdings plc
12th Dec 201912:02 pmRNSForm 8.3 - Aggregated Micro Power Holdings plc
12th Dec 201911:37 amRNSForm 8.3 - Aggregated Micro Power Holdings plc
12th Dec 201910:40 amRNSForm 8.3 - Aggregated Micro Power Holdings plc
11th Dec 20195:15 pmRNSForm 8.3 - Aggregated Micro Power Holdings plc
11th Dec 20195:01 pmRNSForm 8.3 - Aggregated Micro Power Holdings plc
11th Dec 20192:01 pmRNSForm 8.3 - Aggregated Micro Power Holdings PLC
11th Dec 201912:20 pmRNSForm 8.3 - Aggregated Micro Power Holdings plc
9th Dec 20194:27 pmRNSForm 8 (OPD) (Aggregated Micro Power Holdings plc)
9th Dec 20191:41 pmRNSForm 8 (OPD) (Aggregated Micro Power Holdings plc)
5th Dec 20191:40 pmPRNForm 8.3 - Aggregated Micro Power Holdings
4th Dec 20193:03 pmRNSForm 8.3 - Aggregated Micro Power Holdings Plc
3rd Dec 201912:26 pmRNSForm 8.3 - Aggregated Micro Power Holdings plc
2nd Dec 20193:30 pmRNSForm 8 (DD) - Aggregated Micro Power Holdings PLC
2nd Dec 20192:08 pmGNWForm 8.3 - AXA INVESTMENT MANAGERS: Aggregated Micro Power Holdings PLC
29th Nov 20191:56 pmRNSForm 8.3 - Aggregated Micro Power Holdings PLC
29th Nov 20197:00 amRNSRecommended Cash Offer
29th Nov 20197:00 amRNSSale of 4% Interest in IncubEx Inc.
21st Nov 20196:26 pmRNSHolding(s) in Company
25th Oct 201912:12 pmRNSResult of AGM
1st Oct 20197:00 amRNSFinal Results
12th Sep 20197:00 amRNSTrading Update
9th May 20197:00 amRNSFunding for Off Balance Sheet Vehicle
11th Apr 20195:19 pmRNSDirector/PDMR Shareholding
11th Apr 20197:00 amRNSYear End Update
12th Mar 20193:58 pmRNSDirector/PDMR Shareholding
10th Jan 20197:00 amRNSDirector/PDMR Shareholding
17th Dec 20184:39 pmRNSHolding(s) in Company
13th Dec 20187:00 amRNSHalf-year Report
11th Dec 20187:00 amRNSResult of Call of Convertible Loan Notes
20th Nov 20187:00 amRNSDirector/PDMR Shareholding
13th Nov 20181:50 pmRNSHolding(s) in Company
8th Nov 20189:50 amRNSHolding(s) in Company
8th Nov 20188:20 amRNSHolding(s) in Company
8th Nov 20187:00 amRNSCall of Convertible Loan Notes
1st Nov 20182:30 pmRNSResult of General Meeting
30th Oct 201810:12 amRNSDirector/PDMR Shareholding
15th Oct 201812:36 pmRNS£8.5m Placing, CLN Call & Notice of GM
4th Oct 20187:00 amRNSIncubEx Update
10th Sep 201811:32 amRNSResult of AGM
30th Aug 20184:47 pmRNSDirector/PDMR Shareholding

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.