REG - AMTE Power PLC - Appointment of administrators

Amte PowerAnnouncement

19/01/2024 13:30

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RNS Number : 3409A  AMTE Power PLC  19 January 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH FORMS 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.

19 January 2024

For immediate release

AMTE Power Plc

Appointment of administrators

Further to its announcement of its intention to appoint administrators on 8
January 2024 (the "Previous Announcement"), AMTE Power Plc (AIM: AMTE) (the
"Company"), a leading developer and manufacturer of lithium-ion and sodium-ion
battery cells for specialist markets, regrets to announce that it has resolved
to file a notice to appoint administrators of the Company. Further to this,
the Company has now appointed Richard Bloomfield, Ian Corfield and Michelle
Marie Elliot of FRP Advisory Trading Limited as joint administrators of the
Company.

WH Ireland Limited has therefore resigned as nominated adviser to the Company
upon the appointment of the administrator. If the Company fails to appoint a
replacement nominated adviser within one month, the admission of the Company's
ordinary shares (the "Ordinary Shares") to trading on AIM will be cancelled.

Notwithstanding the appointment of administrators, the Company is in advanced
negotiations with a third party regarding the potential sale of the Company's
business and assets. However, there is no guarantee that such negotiations
will successfully conclude.

The Ordinary Shares remain suspended from trading on AIM.

Capitalised terms not defined in this announcement shall have the meaning
given to them in the Previous Announcement, unless the context otherwise
demands.

The Company's shareholders can contact the administrator team on
amtepowershareholders@frpadvisory.com.

Further announcements will be made in due course.

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)

 FRP Advisory Trading Limited              amtepowershareholders@frpadvisory.com
 Richard Bloomfield
 Ian Corfield

 Michelle Marie Elliot

 

 

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