Directorate Change

RNS Number : 3515Y

AMTE Power PLC

06 September 2022

 

Tuesday 6 September 2022    

AMTE Power Plc

("AMTE Power" or the "Company")

Directorate Change

AMTE Power Plc,  a leading manufacturer of battery cells for specialist markets, is pleased to announce that, following its trading update on Tuesday 23 August which referred to broadening management team plans as part of the Group's maturing status and planned transition from development into supply, Alan Hollis has been appointed to the Board of AMTE Power with effect from today. 

Alan will initially work alongside the AMTE Power executive management team and it is the intention of the AMTE Power Board that he will take on the role of Chief Executive Officer on or around Monday 31 October 2022, to lead the business in its next stage plans to accelerate its growth strategy.

AMTE Power is also pleased to announce that, effective from the same date, Kevin Brundish (its CEO, who had founded the Company in 2013) will remain as a Board director in the capacity of Strategy Director, where he will focus on the continuing development of AMTE Power's high performance battery cells, relationships with its customers, suppliers and Government entities, in addition to participating in the strategic direction of the Company.

Alan Hollis has a 20 year public company track record of developing and executing profitable growth strategies within engineering and manufacturing businesses with turnovers ranging from £4m-£200m.

In his last two roles he was a Divisional CEO in Videndum (Vitec) Group plc ("Videndum") from 2015 to 2021, and a Divisional President in the UK in NYSE listed Crane Co. from 2014 to 2015. In Videndum, one of Alan's portfolio businesses was the market leading cine and broadcast battery design & manufacturer Anton Bauer. Previously, Alan held leadership roles within the automotive and aerospace component and system supply businesses Doncasters Group, Firth Rixson and the PFW Group, as well as in the materials businesses of Delloro Stellite and Weir plc.

David Morgan, Chairman of AMTE Power, commented:

"I am delighted to welcome Alan to the board of AMTE Power. The business has reached a stage of maturity where we are transitioning from development to production, and as part of this transition we are executing our plan to broaden the executive team to enable the Company to deliver its growth plans.

"Alan's leadership skills and track record in building high performing teams within a publicly listed manufacturing group will allow him to steer AMTE Power through its next phase of the business growth.

"His extensive experience of developing, constructing, and commissioning new production facilities will complement our team as AMTE Power grows its manufacturing footprint and capabilities at Thurso and Dundee.

"We are also delighted to retain Kevin's proven expertise and know-how in driving the strategic direction of the Company, alongside his detailed knowledge of the product offerings and end-market applications which will fully complement Alan's manufacturing experience. This appointment will enable Kevin to focus on the continued development of AMTE Power's high performance cells and new product development, which will form a key part of the strategic direction of the Company. 

"I look forward to working with both of them, in delivering AMTE Power's ambitious growth plans."

The following disclosures are made in accordance with Schedule 2(g) of the AIM Rules for Companies and Alan Hollis has confimed that there is no further information to be disclosed in this regard:

Full name (age):

Alan Charles Hollis (58)

Current directorships:

Pomeroys Interim Ltd

Previous directorships / partnerships (in the last five years):

Vitec Production Solutions, Inc (Now Videndum Production Solutions nc.)

Vitec Production Solutions, GmbH (Now Videndum Production Solutions GmbH)

Vitec Production Solutions Ltd (Now Videndum Production Solutions Ltd)

Vitec Production Solutions Ltda (Now Videndum Production Solutions Ltd) (Costa Rica)

Vitec Production Solutions Ltd (Japan) (Now Videndum Production Solutions Ltd)

Quasar Science LLD (Manager/President)

Autocue LLC

Litepanels LLC

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 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

ENDS

Enquiries:

AMTE Power plc	[phone]
David Morgan (Chairman)
WH Ireland Limited (NOMAD and Joint Broker )
Chris Fielding / James Bavister / Ben Good (Corporate Finance)	[phone]
Fraser Marshall (Corporate Broking)
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
John Prior / James Sinclair-Ford / Harriette Johnson (Corporate Finance)
Hugh Rich (Corporate Broking)
Camarco	[phone]
Ginny Pulbrook / Rosie Driscoll

About AMTE Power Plc

AMTE Power was founded in 2013 and is a leading developer and manufacturer of lithium-ion battery cells for specialist markets. In March 2021, the Company listed 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.

For further information visit: https://amtepower.com/

 

END

 

 

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