Drawdown from convertible bond facility

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	[phone]
Alan Hollis (Chief Executive Officer) Anita Breslin (Chief Financial Officer)
WH Ireland (NOMAD and Joint Broker)	[phone]
Chris Fielding / James Bavister (Corporate Finance)
Fraser Marshall (Corporate Broking)
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
John Prior / James Sinclair-Ford (Corporate Finance)
Hugh Rich (Corporate Broking)
Camarco (Financial PR)	[phone] / 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

 

END

 

 

MSCSEEFWLEDSEEL