Aggregated Micro Power Holdings PLC Result of General Meeting (0773G)
02 November 2018 - 1:30AM
UK Regulatory
TIDMAMPH
RNS Number : 0773G
Aggregated Micro Power Holdings PLC
01 November 2018
Aggregated Micro Power Holdings plc
("AMP", the "Company" or the "Group")
Result of General Meeting
Aggregated Micro Power Holdings plc, the specialist provider of
distributed heat, power and renewable fuels, announced on 15
October 2018 a placing to raise GBP8.5 million (before expenses)
through the issue of 8,500,000 new ordinary shares of 0.5 pence
each (the "Placing Shares").
The issue of the Placing Shares was conditional, inter alia, on
shareholder approval at a General Meeting. The Company is pleased
to announce that at the General Meeting of its shareholders held
earlier today all resolutions were passed.
Application has been made to the London Stock Exchange for the
Placing Shares to be admitted to trading on AIM and it is expected
that Admission will be effective and dealings will commence in
respect of the new Ordinary Shares, at 8.00 a.m. on 2 November
2018.
The number of Ordinary Shares in the Company in issue following
Admission will be 51,691,143. There are no Ordinary Shares held in
treasury. The above figure may be used by shareholders as the
denominator for the calculations by which they will determine
whether they are required to notify their interest in, or a change
to their interest in the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
Proposed Call of Convertible Loan Notes
As detailed in the Circular sent to shareholders on 15 October
2018, upon receipt of the net proceeds of the Placing, the Company
will issue the Call to Noteholders to commence the early redemption
of the Convertible Loan Notes.
The total number of Convertible Loan Notes currently outstanding
is GBP10.01 million. Of these Convertible Loan Notes, the Directors
and management of the Company currently hold, in aggregate, GBP2.22
million nominal, which they have committed to convert into new
Ordinary Shares. Therefore, the maximum potential cost of
redemption of the Convertible Loan Notes at par is GBP7.79 million,
plus expected interest due to Convertible Loan Note Holders of
approximately GBP0.13 million.
The Company will issue an announcement once the Call has been
issued and a further announcement once the number of Conversion
Shares has been finalised.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
Circular containing notice of the General Meeting, a copy of which
is available on the Company's website www.ampplc.co.uk.
Contacts:
Aggregated Micro Power Holdings plc 020 7382 7800
Neil Eckert, Executive Chairman
Richard Burrell, CEO
Izzy Deterding, Investor Relations
Haggie Partners LLP 020 7562 4444
Peter Rigby
finnCap Ltd 020 7220 0500
Ed Frisby / Simon Hicks (Corporate Finance)
Andrew Burdis / Richard Chambers (ECM)
Whitman Howard Ltd 020 7659 1234
Hugh Rich
Nick Lovering
About Aggregated Micro Power Holdings plc
The AMP Group was established to develop, own and operate
renewable energy generating facilities. It specialises in the sale
of wood fuels and in the installation of distributed energy
projects. AMP's wholly owned subsidiary Forest Fuels sells high
quality wood chip and wood pellet to end customers throughout the
UK, while its projects division installs biomass boiler and biomass
CHP systems for a wide range of applications and customers. AMP is
also active in developing projects for stand-by power generation,
which aims to balance the transmission grid at times of peak
demand.
www.ampplc.co.uk
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contact rns@lseg.com or visit www.rns.com.
END
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