REG - AMTE Power PLC - Drawdown from convertible bond facility

Amte PowerAnnouncement

25/04/2023 07:00

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RNS Number : 2860X  AMTE Power PLC  25 April 2023

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.

25 April 2023

AMTE Power Plc

("AMTE Power" or the "Company")

Drawdown from convertible bond facility

AMTE Power Plc (AIM: AMTE), a leading developer and manufacturer of
lithium-ion and sodium-ion battery cells for specialist markets, announces
that, further to the announcement dated 4 November 2022, the Company issued
yesterday a Tranche 2 drawdown notice in respect of the next £1.0 million of
the Facility. In accordance with the terms of the Definitive Documents, the
Company expects the Tranche 2 Issue Date to be within 10 Business Days of
yesterday'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 2 of the Facility to subscribe for Ordinary
Shares to drawdown gross proceeds of £1.0 million.

Capitalised terms in this announcement shall have the same meaning as in the
earlier announcement dated 17 October 2022.

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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