Result of General Meeting, TVR and Retail Offer

AMTE Power PLC

25 September 2023

 

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.

AMTE Power plc

Result of General Meeting, Total Voting Rights and Retail Offer

AMTE Power Plc (AIM: AMTE) ("AMTE Power" or the "Company") is pleased to announce that, at the General Meeting held earlier today, all resolutions as set out in its notice of General meeting dated 8 September 2023 were duly passed. Admission of the Conditional Placing Shares to trading on AIM is therefore expected to occur on 26 September 2023.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Company's announcement made on 8 September 2023, unless the context requires otherwise.

Admission and Total Voting Rights

Following the General Meeting held earlier today, the Company will issue 112,596,610 Conditional Placing Shares.

Application has been made to the London Stock Exchange for admission of the Conditional Placing Shares to trading on AIM. It is expected that Conditional Admission will become effective at 8.00 a.m. on 26 September 2023. The Conditional Placing Shares will rank pari passu in all respects with the existing ordinary shares of 0.5 pence each ("Ordinary Shares").

Following Conditional Admission, the total number of shares in the capital of the Company with voting rights will be 160,908,680 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, AMTE Power under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Suspension of trading

On 13 September 2023, the London Stock Exchange announced a suspension of trading in the Ordinary Shares as a result of deterioration in settlement performance of those shares. It is hoped that the result of the General Meeting will enable this situation to normalise shortly so enabling the suspension to be lifted by the London Stock Exchange, whereupon dealings will commence in those shares and the Conditional Placing Shares. Any decision by the London Stock Exchange to lift the suspension will be communicated by the London Stock Exchange in due course.

The Retail Offer

The Company values its shareholder base and believes that it is appropriate to provide eligible existing retail shareholders in the United Kingdom the opportunity to participate in the Retail Offer. The Retail Offer will allow existing retail shareholders to participate in the fundraising by subscribing for Retail Offer Shares at the Placing Price via the Bookbuild Platform.

An announcement regarding the launch of the Retail Offer will be made shortly following the lifting of the suspension of trading in the Ordinary Shares and will contain further information on how investors can participate in the Retail Offer.

Results of the meeting

Details of the results of the voting, by way of a poll vote, at the General Meeting are set out below. Resolution 1 is an ordinary resolution and resolution 2 is a special resolution.

Resolution	For		Against
	Votes	% of votes cast	Votes	% of votes cast
1. To authorise the Directors generally to allot relevant securities for cash	17,068,616	98.785%	209,907	1.21%
2. To authorise the Directors generally to allot equity securities on a non-pre-emptive basis	17,059,563	98.733%	218,960	1.27%

The person responsible for arranging the release of this announcement on behalf of the Company is Anita Breslin, Chief Financial Officer of the Company.

For further enquiries:

AMTE Power plc
	[phone]
Alan Hollis, CEO
Anita Breslin, CFO
WH Ireland Limited - (Nominated Adviser & Joint Broker)	Tel: [phone]
Chris Fielding / James Bavister / Isaac Hooper (Corporate)
Fraser Marshall / George Krokos (Broking)

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.

 

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