Aggregated Micro Power Holdings PLC Admission to AIM (6639M)

TIDMAMPH

RNS Number : 6639M

Aggregated Micro Power Holdings PLC

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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