11 Dec 2018 07:00
Aggregated Micro Power Holdings plc
("AMP", the "Company" or the "Group")
Result of Call of Convertible Loan Notes
Further to the announcement of 8 November 2018, Aggregated Micro Power Holdings plc, the specialist provider of distributed heat, power and renewable fuels, confirms that the redemption of the Convertible Loan Notes occurred at the close of business on 10 December 2018 (the "Redemption Date").
Of the £10.01 million nominal of Convertible Loan Notes outstanding, it has received elections from 91% of Noteholders to convert £9.13 million nominal of Convertible Loan Notes into a total of 11,702,811 new Ordinary Shares. Therefore, the Company is redeeming the remaining £0.88 million nominal of Convertible Loan Notes at par.
It is anticipated that the cancellation of the listing of the Convertible Loan Notes on TISE will occur by 14 December 2018.
Director Shareholdings
Of the £10.01 million nominal of Convertible Loan Notes, the Directors and management of the Company held, in aggregate, £2.22 million nominal, which they committed to convert into new Ordinary Shares. The resultant shareholdings of the Directors who hold Convertible Loan Notes is set out below:
Director | Role | Previous shareholding | £nominal of Convertible Loan Notes held | New Ordinary Shares received | Revised shareholding | Percentage of enlarged issued share capital held |
Neil Eckert | Executive Chairman | 7,850,700 | £950,000 | 1,315,947 | 9,166,647 | 14.5% |
Richard Burrell | CEO | 2,730,000 | £400,000 | 465,116 | 3,195,116 | 5.0% |
Sir Brian Williamson | Non-Executive Director | 100,000 | £20,000 | 28,571 | 128,571 | 0.2% |
Sir Laurence Magnus | Non-Executive Director | 175,000 | £46,250 | 62,085 | 237,085 | 0.4% |
Robert Bland | Non-Executive Director | 0 | £290,613 | 337,922 | 337,922 | 0.5% |
Total Voting Rights
Application has been made to the London Stock Exchange for the 11,702,811 new Ordinary Shares arising from the Conversion to be admitted to trading on AIM ("Admission").
It is expected that Admission will become effective and trading will commence in the new Ordinary Shares at 8.00 a.m. on 13 December 2018. On Admission the Company's issued share capital will comprise 63,393,954 Ordinary Shares. The Company holds no Ordinary Shares in treasury. Accordingly, the figure of 63,393,954 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Circular containing notice of the General Meeting, a copy of which is available on the Company's website www.ampplc.co.uk.
Contacts:
Aggregated Micro Power Holdings plc 020 7382 7800
Neil Eckert, Executive Chairman
Richard Burrell, CEO
Izzy Deterding, Investor Relations
finnCap Ltd 020 7220 0500
Ed Frisby / Simon Hicks (Corporate Finance)
Andrew Burdis / Richard Chambers (ECM)
Whitman Howard Ltd 020 7659 1234
Hugh Rich
Nick Lovering
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, which aims 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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Neil Eckert | ||||||
2. | Reason for the Notification | |||||||
a) | Position/status | Executive Chairman | ||||||
b) | Initial notification/Amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Aggregated Micro Power Holdings plc | ||||||
b) | LEI | 2138001HABA1FAB3WC13 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.5 pence | ||||||
Identification code | GB00BC4F3V69 | |||||||
b) | Nature of the transaction | Conversion of Convertible Loan Notes into Ordinary Shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information: · Aggregated volume · Price | Conversion of £950,000 nominal of Convertible Loan Notes into 1,315,947 Ordinary Shares | ||||||
e) | Date of the transaction | 10 December 2018 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Richard Burrell | ||||
2. | Reason for the Notification | |||||
a) | Position/status | CEO | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aggregated Micro Power Holdings plc | ||||
b) | LEI | 2138001HABA1FAB3WC13 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.5 pence | ||||
Identification code | GB00BC4F3V69 | |||||
b) | Nature of the transaction | Conversion of Convertible Loan Notes into Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | Conversion of £400,000 nominal of Convertible Loan Notes into 465,116 Ordinary Shares | ||||
e) | Date of the transaction | 10 December 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Sir Brian Williamson | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aggregated Micro Power Holdings plc | ||||
b) | LEI | 2138001HABA1FAB3WC13 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.5 pence | ||||
Identification code | GB00BC4F3V69 | |||||
b) | Nature of the transaction | Conversion of Convertible Loan Notes into Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | Conversion of £20,000 nominal of Convertible Loan Notes into 28,571 Ordinary Shares | ||||
e) | Date of the transaction | 10 December 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Sir Laurence Magnus | ||||||
2. | Reason for the Notification | |||||||
a) | Position/status | Non-Executive Director | ||||||
b) | Initial notification/Amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Aggregated Micro Power Holdings plc | ||||||
b) | LEI | 2138001HABA1FAB3WC13 | ||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.5 pence | ||||||
Identification code | GB00BC4F3V69 | |||||||
b) | Nature of the transaction | Conversion of Convertible Loan Notes into Ordinary Shares | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information: · Aggregated volume · Price | Conversion of £46,250 nominal of Convertible Loan Notes into 62,085 Ordinary Shares | ||||||
e) | Date of the transaction | 10 December 2018 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Robert Bland | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Aggregated Micro Power Holdings plc | ||||
b) | LEI | 2138001HABA1FAB3WC13 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.5 pence | ||||
Identification code | GB00BC4F3V69 | |||||
b) | Nature of the transaction | Conversion of Convertible Loan Notes into Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | Conversion of £290,613 nominal of Convertible Loan Notes into 337,922 Ordinary Shares | ||||
e) | Date of the transaction | 10 December 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||