18 Dec 2015 11:56
18 December 2015
Aggregated Micro Power Holdings plc
("AMP" or the "Company")
Forest Fuels
Aggregated Micro Power Holdings plc, (AIM: AMPH), the renewable energy developer focused on biomass power generation, announces that it has extended its option arrangement to acquire 100% of Forest Fuels Holdings Ltd ("Forest Fuels") to 31 March 2016.
The other terms of the agreement remain the same. These include £3 million in cash and following certain performance criteria being met, a further 2.5 million new Ordinary Shares in due course.
Richard Burrell, CEO of Aggregated Micro Power Holdings plc, said:
"Forest Fuels is a compelling acquisition for AMP and following the positive news in the Autumn Spending Review as regards the future of the Renewable Heat Incentive, we believe that there is an excellent opportunity to grow the combined business into a fully integrated biomass developer and fuel supplier."
Enquiries
Aggregated Micro Power Holdings plc 0207 382 7800
Neil Eckert, Executive Chairman
Richard Burrell, CEO
Haggie Partners 0207 562 4444
Peter Rigby/Brian Norris
finnCap Ltd
Ed Frisby/Simon Hicks (Corporate Finance) 0207 220 0500
Stephen Norcross (Corporate Broking) 0207 220 0513
Note to Editors:
About Aggregated Micro Power Holdings plc
AMP was established to develop, own and operate renewable energy generating facilities. AMP's strategy is to develop and operate projects using small-scale technologies for converting biomass to energy and to sell the energy produced in the form of electricity, heat and wood fuel.