Sale of business and assets

AMTE Power PLC

02 February 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.

1 February 2024

For immediate release

AMTE Power Plc

Sale of business and assets

AMTE Power Plc (AIM: AMTE) (the "Company") announces that, further to its announcement of Richard Bloomfield, Ian Corfield and Michelle Marie Elliot of FRP Advisory Trading Limited as joint administrators (the "Joint Administrators") on 19 January 2024, the Joint Administrators have entered into a business and asset sale agreement (the "Sale Agreement") concerning the sale (the "Sale") of part of the trading business and certain assets of the Company to LionVolt Ltd. a newly incorporated, wholly-owned subsidiary of LionVolt B.V. (other than certain excluded assets).

Following the resignation of WH Ireland Limited ("WH Ireland") as the Company's nominated adviser on 19 January 2024 and the fact that the Company's ordinary shares currently remain suspended from trading on AIM, it remains the case that, if the Company fails to appoint a replacement nominated adviser within one month of WH Ireland's resignation, the admission of the ordinary shares to trading on AIM will be cancelled.

Enquiries

FRP Advisory Trading Limited	[e-mail]
Richard Bloomfield Ian Corfield Michelle Marie Elliot

 

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