REG - AMTE Power PLC - Conversion of Convertible Loan Notes and TVR

Amte PowerAnnouncement

20/04/2023 07:00

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RNS Number : 8223W  AMTE Power PLC  20 April 2023

20 April 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 £25,000 worth of convertible loan notes from Arena
Investors LP ("Arena") resulting in the issuance today of 49,949 new ordinary
shares of 0.5 pence each in the capital of the Company ("New Ordinary Shares")
at a conversion price of 50.05 pence per share.

Following the conversion, £2,775,000 remains outstanding for conversion under
the first tranche of £3 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 25 April 2023.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise
36,382,351 ordinary shares. As the Company does not hold any shares in
treasury, this figure of 36,382,351 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)

 Camarco (Financial PR)                                +44 (0)203 757 4992 / 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
(http://www.amtepower.com)

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