22 Nov 2022 07:00
22 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
AMTE Power Plc
("AMTE Power" or the "Company")
Conversion of Convertible Loan Notes and Total Voting Rights
Further to the announcements dated 4 November and 17 October 2022, AMTE Power plc, a leading manufacturer of battery cells for specialist markets, announces that the Company has received a conversion notice in respect of £150,000 worth of convertible loan notes from Arena Investors LP ("Arena") resulting in the issue today of 245,514 new ordinary shares ("Ordinary Shares") of 0.5 pence each in the capital of the Company ("New Ordinary Shares") at a conversion price of 61.0963 pence per New Ordinary Share.
Following the conversion, £2,850,000 remains outstanding for conversion under the first tranche of £3 million of the convertible bond facility with Arena which was signed on 4 November 2022.
The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares. Application will be made to the London Stock Exchange PLC for the admission of the New Ordinary Shares to trading on AIM ("Admission"). It is anticipated that Admission will occur at 8.00 a.m. on AIM on or around 25 November 2022.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 36,234,094 Ordinary Shares. As the Company does not hold any shares in treasury, this figure of 36,234,094 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
The person responsible for arranging the release of this announcement on behalf of the Company is Alan Hollis, Chief Executive Officer of the Company.
Enquiries
AMTE Power plc | +44 (0)1847 867 200 |
David Morgan (Chairman) | |
WH Ireland (NOMAD and Joint Broker) | +44 (0)207 220 1666 |
Chris Fielding / James Bavister / Megan Liddell (Corporate Finance) | |
Fraser Marshall (Corporate Broking) | |
Panmure Gordon (UK) Limited (Joint Broker) | +44 (0)207 886 2500 |
John Prior / James Sinclair-Ford (Corporate Finance) | |
Hugh Rich (Corporate Broking) | |
Camarco (Financial PR) | +44 (0)203 757 4992 / 4981 |
Ginny Pulbrook / Rosie Driscoll |
Notes to Editors:
AMTE Power was founded in 2013 and is a leading developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets. In March 2021, the Company was admitted to trading on the AIM market of the London Stock Exchange. The Company is focused on launching a series of next generation battery cells based on new chemistries and cell structures that are designed to solve key problems in power delivery, energy performance, and safety. These new products are targeted at a range of specialist markets including the electric vehicle industry and energy storage sector.
AMTE Power's purpose-built cell manufacturing facility in Thurso, Scotland has the second largest cell manufacturing capacity in the UK and the Company also has a product development team based in Oxford. AMTE's proposed state-of-the-art MegaFactory in Dundee, Scotland is expected to be operational and in production by Q3 2025 and will be capable of producing over 25,000 high added value batteries per day enabling the Company to rapidly scale up cell production.
For further information visit the Company's website: www.amtepower.com