TIDMAMTE
RNS Number : 9609Y
AMTE Power PLC
08 January 2024
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH
FORMS 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.
8 January 2024
For immediate release
AMTE Power Plc
Update on intention to appoint administrators
Further to its announcement on 19 December 2023 of its intention
to appoint administrators and the suspension of trading of its
shares on AIM (the "Previous Announcement"), AMTE Power Plc (AIM:
AMTE), (the "Company") announces that the accelerated sale process,
referred to in the Previous Announcement, has elicited interest in
the business and assets of the Company.
Accordingly, the Board has today filed a second notice of
intention to appoint an administrator with the Court, which the
Court has sealed. Accordingly, the Company will be protected from
creditor action for a further 10 business day period (until and
including 19 January 2024) and intends to use such period to
continue to explore the interest elicited by the accelerated sale
process and conclude a transaction.
The Company's Ordinary Shares remain suspended from trading on
AIM.
WH Ireland Limited ("WH Ireland") will resign as nominated
adviser to the Company should these negotiations not succeed and an
administrator be appointed. If the Company fails to appoint a
replacement nominated adviser within one month of the date that WH
Ireland resigns, the admission of the Ordinary Shares to trading on
AIM will be cancelled.
Capitalised terms not defined in this announcement shall have
the meaning given to them in the Previous Announcement, unless the
context otherwise demands.
A further announcement will be made in due course.
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 Limited (NOMAD and Joint
Broker) +44 (0)207 220 1666
Chris Fielding / Isaac Hooper (Corporate
Finance)
Fraser Marshall (Corporate Broking)
FRP Advisory (Administrator and AMA)
Richard Bloomfield (Proposed Administrator
and AMA)
Email: ProjectCellProcess@frpadvisory.com +44 (0)1603 703173
+44 (0)203 757 4992
Camarco (Financial PR) / 4981
Ginny Pulbrook / Rosie Driscoll
Important notice
This announcement is for information purposes only and does not
constitute or form part of any offer to issue or sell, or the
solicitation of an offer to acquire, purchase or subscribe for, any
securities in any jurisdiction and should not be relied upon in
connection with any decision to subscribe for or acquire ordinary
shares in the capital of the Company. In particular, this
announcement does not constitute or form part of any offer to issue
or sell, or the solicitation of an offer to acquire, purchase or
subscribe for, any securities in the United States.
This announcement has been issued by, and is the sole
responsibility of, the Company. No person has been authorised to
give any information or to make any representations other than
those contained in this announcement and, if given or made, such
information or representations must not be relied on as having been
authorised by the Company.
No statement in this announcement is intended to be a profit
forecast or profit estimate and no statement in this announcement
should be interpreted to mean that earnings per share of the
Company for the current or future financial years would necessarily
match or exceed the historical published earnings per share of the
Company.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will",
"would" or "should" or, in each case, their negative or other
variations or comparable terminology. These forward-looking
statements include matters that are not historical facts. They
appear in a number of places throughout this announcement and
include statements regarding the directors of the current Company's
intentions, beliefs or expectations concerning, among other things,
the Company's results of operations, financial condition,
liquidity, prospects, growth, strategies, and the Company's
markets. By their nature, forward-looking statements involve risk
and uncertainty because they relate to future events and
circumstances. Actual results and developments could differ
materially from those expressed or implied by the forward-looking
statements. Forward-looking statements may and often do differ
materially from actual results. Any forward-looking statements in
this announcement are based on certain factors and assumptions,
including the directors of the Company's current view with respect
to future events and are subject to risks relating to future events
and other risks, uncertainties and assumptions relating to the
Company's operations, results of operations, growth strategy and
liquidity. Whilst the directors of the Company consider these
assumptions to be reasonable based upon information currently
available, they may prove to be incorrect. Save as required by
applicable law, the AIM Rules or the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
undertakes no obligation to release publicly the results of any
revisions to any forward-looking statements in this announcement
that may occur due to any change in the directors of the Company's
expectations or to reflect events or circumstances after the date
of this announcement.
Neither the content of the Company's website nor any website
accessible by hyperlinks to the Company's website is incorporated
in, or forms part of, this announcement.
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END
UPDBPMBTMTBMBFI
(END) Dow Jones Newswires
January 08, 2024 06:19 ET (11:19 GMT)
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