REG - AMTE Power PLC - AMTE Power signs convertible bond facility

Amte PowerAnnouncement

04/11/2022 12:15

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RNS Number : 3996F  AMTE Power PLC  04 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.

4 November 2022

 

AMTE POWER PLC

AMTE Power signs convertible bond facility

 

AMTE Power Plc (AIM: AMTE) ("AMTE Power" or the "Company"), a leading
developer and manufacturer of lithium-ion and sodium-ion battery cells for
specialist markets, is delighted to announce that, following the passing of
the Resolutions at the General Meeting held yesterday, it has entered into
Definitive Documents relating to the convertible bond facility (the
"Facility") announced on 17 October 2022 (the "Previous Announcement"). The
terms of the Definitive Documents are in line with the description of the
Heads of Terms provided in the Previous Announcement.

 

The Company has today issued a tranche 1 drawdown notice in respect of the
first £3.0 million of the Facility. In accordance with the terms of the
Definitive Documents, the Company expects the Tranche 1 Issue Date (as defined
in the Definitive Documents) to be within 5 Business Days of today's date.
On such date, the Company will, subject to the receipt of the necessary funds
from Arena, issue the convertible bonds required to be issued in respect of
tranche 1 of the Facility and 1,829,269 warrants to subscribe for Ordinary
Shares to drawdown gross proceeds of £3.0 million.

 

The maximum proceeds of the Facility (net of expenses and Facility fees,
excluding VAT) are expected to amount to c.£3.92 million.

 

Capitalised terms in this announcement shall have the same meaning as in the
Previous Announcement.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Alan Hollis Chief Executive Officer of the Company.

 

 

ENDS

Enquiries

 

 AMTE Power plc                                        Tel: +44 (0)1847 867 200
 Alan Hollis (Chief Executive Officer)
 James Hobson (Chief Financial Officer)

 WH Ireland (NOMAD and Joint Broker)                   Tel: +44 (0)207 220 1666
 Chris Fielding / James Bavister / Ben Good

 Panmure Gordon (UK) Limited (Joint Broker)            Tel: +44 (0)207 886 2500
 John Prior / James Sinclair-Ford (Corporate Finance)

 Hugh Rich (Corporate Broking)

 Camarco (Financial PR)                                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 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
(http://www.amtepower.com/)

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