Aggregated Micro Power Holdings plc (AIM: AMPH), the specialist provider of distributed heat, power and renewable fuels, was notified on 9 July 2018 of a share transfer pursuant to Neil Eckert's, Executive Chairman of the Company, transfer of his self-invested personal pension ("SIPP") from one Trustee to another Trustee in specie (the "Transfer").
Following the completion of the Transfer, there will be no change to Mr Eckert's total beneficial interest in the Company, being 7,850,700 ordinary shares representing approximately 18.2% of the Company's issued share capital and £645,000 nominal of AMP Fixed Rate Secured Convertible Loan Notes 2021 ("CLNs").
At the same time, Mr Eckert has entered into an agreement with his new SIPP Trustee to charge all assets in his new SIPP, which will include 339,356 ordinary shares in the Company and 305,000 CLNs, as security for a revolving credit facility. Under the terms of the charge, title to the securities in the Company can be transferred, sold or otherwise dealt with by the SIPP Trustee following an event of default under the security agreement. The transfer of the CLNs is expected to be effective very shortly and a further notification will be made at that time.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
Details of the person discharging managerial responsibilities / person closely associated
Reason for the Notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Aggregated Micro Power Holdings plc
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the Financial instrument, type of instrument
- Ordinary Shares of 0.5 pence
Nature of the transaction
In specie transfer and charge over ordinary shares
Price(s) and volume(s)
· Aggregated volume
- In specie transfer of 339,356 ordinary shares at £1.03
Date of the transaction
28 June 2018
Place of the transaction
Outside of trading venue
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
finnCap Ltd 020 7220 0500
Ed Frisby/Simon Hicks (Corporate Finance)
Stephen Norcross/Richard Chambers (Corporate Broking)
Whitman Howard Ltd 020 7659 1234
Nick Lovering/Francis North
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 aim to balance the transmission grid at times of peak demand.
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