Aggregated Micro Power Holdings PLC Admission to AIM (6639M)
July 18 2014 - 2:00AM
UK Regulatory
TIDMAMPH
RNS Number : 6639M
Aggregated Micro Power Holdings PLC
18 July 2014
18 July 2014
Aggregated Micro Power Holdings plc
Admission to trading on AIM
& Placing to raise GBP9.5m
Aggregated Micro Power Holdings plc, (AIM: AMPH), the renewable
energy developer focussed on biomass power generation, announces
that Admission will become effective and dealings in the Ordinary
Shares on AIM will commence today at 8.00am under the trading
symbol AMPH.
About AMP
AMP was established in 2010 and develops, owns and operates
small-scale, clean wood, gasification plants (to generate
electricity and heat) and develops and operates biomass boiler
projects fuelled by wood chip or pellets to supply localised
heating and hot water.
-- Gasification CHP (combined heat and power) projects produce
revenues from electricity generation and the sale of wood fuel
dried during the process. Projects are also expected to attract UK
Government incentives for renewable energy.
-- Biomass boiler installation model being rolled out in
schools, care homes, rural business parks, agricultural facilities
and health spas. AMP offers its customers a fully financed and
maintained boiler where the customer pays for heat under a long
term contract of typically 20 years duration.
AIM listing & Placing Summary
-- Placing to raise GBP9.5m at a price of 100p per share from new and existing investors
-- Net proceeds to finance development costs of current pipeline
of renewable energy projects - namely further Gasification projects
and biomass boiler installations
-- Market capitalisation on Admission of GBP25.7m
-- Experienced management team including Neil Eckert, Chairman
(Ex-Climate Exchange plc and BRIT Insurance) and Richard Burrell,
CEO (Assura Group and Westbury Property Fund, now Stobart
Group)
-- The Board expects the Company to pay dividends from 2015 with
a progressive dividend policy thereafter
Existing AMP Projects & Project Pipeline
AMP's existing facilities comprise of a 1MWe Gasification plant
at Low Plains in Cumbria and a heat dried wood chip sales business
on the same site. AMP has also installed and commissioned three
biomass boilers supplying heat to a school, a care home and a rural
business park. Two other boiler projects are being installed in two
further schools, and a sixth boiler project is under heads of terms
with a health spa.
AMP has a pipeline of projects, from which the Directors expect
to reach financial close on two gasification projects by the end of
2014 and to commission these projects by the end of 2015. These
projects include a new 1.5MWe plant in Exeter and a new 1.5MWe
plant in Cumbria, in addition to the existing 1MWe facility at Low
Plains.
Commenting, Richard Burrell, CEO of Aggregated Micro Power
Holdings plc, said: "Our move to AIM provides us with the platform
we need to accelerate our pipeline of projects as we continue to
grow. The combination of our Gasification CHP projects and biomass
boiler installations, offers investors the opportunity to invest in
much needed renewable energy infrastructure, but also in a
portfolio of projects that will bring a steady stream of highly
visible revenues which will underpin our ambitions for the payment
of a progressive dividend commencing from 2015."
Commenting, Neil Eckert, Executive Chairman of Aggregated Micro
Power Holdings plc, said: "For local authorities, school governors
and trusts and the owners of care homes, agricultural facilities or
business parks, AMP offers a secure localised supply of heat and
hot water that is cheaper than expensive heating oil or LPG. Not
only do our boilers bring economic and environmental benefits, but
as they are fully financed by AMP, they are installed at zero capex
cost to the user."
Terms defined in the admission document dated 14 July 2014,
available on the Company's website
http://www.ampplc.co.uk/investors/investor-documents.html, have the
same meaning as when used in this announcement.
Aggregated Micro Power Holdings www.ampplc.co.uk
plc
Richard Burrell, Chief Executive Tel: 020 7382 7800
Officer
Neil Eckert, Executive Chairman Tel: 020 7382 7800
finnCap Ltd (NOMAD & Broker) Tel: 020 7220 0500
Ed Frisby / Henrik Persson / Simon (Corporate Finance)
Hicks
Stephen Norcross (Corporate Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or amp@walbrookpr.com
Paul McManus Mob: 07980 541 893
Mike Wort Mob: 07900 608 002
This information is provided by RNS
The company news service from the London Stock Exchange
END
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