REG - AMTE Power PLC - Agreed changes to Concert Party

Amte PowerAnnouncement

28/03/2022 09:00

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RNS Number : 1450G  AMTE Power PLC  28 March 2022

28 March 2022

 

 

AMTE POWER PLC ("AMTE" or the "Company")

Agreed changes to Concert Party

 

Under the City Code on Takeovers and Mergers (the "Code") published by the
Panel on Takeovers and Mergers (the "Panel"), a concert party arises where
persons who, pursuant to an agreement or understanding (whether formal or
informal), co-operate to obtain or consolidate control (as defined in the
Code) of a company or to frustrate the successful outcome of an offer for a
company.

Certain persons will be presumed, as set out in the Definitions in the Code,
to be persons acting in concert with other persons in the same category unless
the contrary is established, including shareholders in a private company who,
following the re-registration of that company as a public company in
connection with an initial public offering or otherwise, become shareholders
in a company to which the Code applies.

In its admission document dated 9 March 2021, AMTE stated that it had agreed
with the Panel that a concert party (the "March 2021 Concert Party") existed
in the context of the Company, comprising each of the individuals in the
following two groups:

·    certain founders of the Company's business, and their respective
close associates (the "Founder Group"), and

·    certain individuals introduced to the Company directly or indirectly
by a Mr P Tillett, and their respective close associates (the "P Tillett
Group").

The Company has now agreed with the Panel that the March 2021 Concert Party is
no longer itself a single concert party, but now comprises two separate
concert parties:

·    the Founder Group, which has an aggregate interest in the issued
share capital of the Company of approximately 16.6 per cent., and

·    the P Tillett Group, which has an aggregate interest in the issued
share capital of the Company of approximately 17.8 per cent.

The members of these two groups are as follows:

The Founder Group:

                  Number of ordinary shares  Percentage of issued share capital
 S Farmer         2,203,034                  6.12%
 K Brundish       1,980,940                  5.50%
 P & S Betts      990,470                    2.75%
 J Fox            685,710                    1.91%
 W Baillieu       78,761                     0.22%
 G Morris         27,268                     0.08%
 E Baillieu       2,571                      0.01%

 

The P Tillett Group:

            Number of ordinary shares  Percentage of issued share capital
 C Maine    3,767,395                  10.47%
 P Tillet   797,489                    2.22%
 S Snow     661,890                    1.84%
 K Levins   340,850                    0.95%
 C Simmons  229,372                    0.64%
 A Waite    174,591                    0.49%
 M Billiet  170,425                    0.47%
 J Tobelem  136,340                    0.38%
 W Sissen   109,072                    0.30%
 L Speri    34,085                     0.09%

The individuals within these two groups can now each acquire further shares in
the Company without triggering an obligation under Rule 9 of the Code to make
an offer for the whole of its issued share capital, provided such acquisitions
do not cause the aggregate interest of their respective concert party to reach
or exceed 30 per cent. of the Company's issued share capital.

 

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 ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain. .

 

For further information contact:

 AMTE Power plc                                    Tel: +44 (0)1847 867 200

 Kevin Brundish (Chief Executive Officer)

 James Hobson (Chief Financial Officer)
 WH Ireland Limited (NOMAD and Joint Broker)       Tel: +44 (0)207 220 1666

 Chris Fielding / Ben Good
 SI Capital Limited (Joint Broker)                 Tel: +44 (0)1483 413 500

 Nick Emerson / Nick Briers
 Camarco                                           Tel: +44 (0)20 3757 4992

 Ginny Pulbrook / Tom Huddart / 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 listed on the AIM market of the London Stock Exchange,
making the Company the only listed UK battery manufacturer. 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 automotive industry,
oil and gas market and energy storage sector. AMTE'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. For further information visit the Company's
website: www.amtepower.com (https://amtepower.com/)

 

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