REG - AMTE Power PLC - Conversion of Convertible Loan Notes

Amte PowerAnnouncement

22/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221122:nRSV1180Ha&default-theme=true

RNS Number : 1180H  AMTE Power PLC  22 November 2022

22 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.

AMTE Power Plc

("AMTE Power" or the "Company")

Conversion of Convertible Loan Notes and Total Voting Rights

 

Further to the announcements dated 4 November and 17 October 2022, AMTE Power
plc, a leading manufacturer of battery cells for specialist markets, announces
that the Company has received a conversion notice in respect of £150,000
worth of convertible loan notes from Arena Investors LP ("Arena") resulting in
the issue today of 245,514 new ordinary shares ("Ordinary Shares") of 0.5
pence each in the capital of the Company ("New Ordinary Shares") at a
conversion price of 61.0963 pence per New Ordinary Share.

Following the conversion, £2,850,000 remains outstanding for conversion under
the first tranche of £3 million of the convertible bond facility with Arena
which was signed on 4 November 2022.

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 November 2022.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise
36,234,094 Ordinary Shares.  As the Company does not hold any shares in
treasury, this figure of 36,234,094 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 Alan Hollis, Chief Executive Officer of the Company.

 

Enquiries

 AMTE Power plc                                                       +44 (0)1847 867 200
 David Morgan (Chairman)

 WH Ireland (NOMAD and Joint Broker)                                  +44 (0)207 220 1666
 Chris Fielding / James Bavister / Megan Liddell (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

 

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)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUAABRUOUAUAA