AMTE Power PLC Conversion of Convertible Loan Notes and TVR (6603S)
March 13 2023 - 3:00AM
UK Regulatory
TIDMAMTE
RNS Number : 6603S
AMTE Power PLC
13 March 2023
13 March 2023
AMTE Power Plc
("AMTE Power" or the "Company")
Conversion of Convertible Loan Notes and Total Voting Rights
Further to the announcements dated 17 October 2022, 4 November
2022 and 7 March 2023, AMTE Power plc, a leading manufacturer of
battery cells for specialist markets, announces that the Company
has received a conversion notice in respect of GBP50,000 worth of
convertible loan notes from Arena Investors LP ("Arena") resulting
in the issuance today of 98,308 new ordinary shares of 0.5 pence
each in the capital of the Company ("New Ordinary Shares") at a
conversion price of 50.86 pence per share.
Following the conversion, GBP2,800,000 remains outstanding for
conversion under the first tranche of GBP3 million of the
convertible bond facility with Arena.
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 15 March
2023.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 36,332,402 ordinary shares. As the Company does not hold
any shares in treasury, this figure of 36,332,402 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 Anita Breslin, Chief
Financial Officer of the Company.
Enquiries
AMTE Power plc +44 (0)1847 867 200
Alan Hollis (Chief Executive Officer)
Anita Breslin (Chief Financial Officer)
WH Ireland (NOMAD and Joint Broker) +44 (0)207 220 1666
Chris Fielding / James Bavister (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)
+44 (0)203 757 4992
Camarco (Financial PR) / 4981
Ginny Pulbrook / Rosie Driscoll
About AMTE Power
AMTE Power was founded in 2013 and is a leading UK 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 gigafactory in Dundee, Scotland is
expected to be capable of producing over 8 million battery cells
per annum enabling the Company to rapidly scale up cell
production.
For further information visit the Company's website:
www.amtepower.com
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END
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