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Call of Convertible Loan Notes

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RNS Number : 7029G
Aggregated Micro Power Holdings PLC
08 November 2018
 

Aggregated Micro Power Holdings plc

("AMP", the "Company" or the "Group")

Call of Convertible Loan Notes

Further to the announcement of 1 November 2018, Aggregated Micro Power Holdings plc, the specialist provider of distributed heat, power and renewable fuels, confirms that it has today issued the Call by way of the issue of the Convertible Loan Notes Notice to Noteholders to commence the early redemption of the Convertible Loan Notes.

The total number of Convertible Loan Notes currently outstanding is £10.01 million nominal. Of these Convertible Loan Notes, the Directors and management of the Company currently hold, in aggregate, £2.22 million nominal, which they have committed to convert into new Ordinary Shares. Therefore, the maximum potential cost of redemption of the Convertible Loan Notes at par is £7.79 million, plus expected interest due to Convertible Loan Note Holders of approximately £0.13 million.

In accordance with the Convertible Loan Note Instrument, the redemption of the Convertible Loan Notes will occur at the close of business on 10 December 2018 (the "Redemption Date"), subject to any Noteholders electing to convert their Convertible Loan Notes prior to this time.

Noteholders will have until the Redemption Date to deliver to the Company, at its registered office, the required documentation as detailed in the Convertible Loan Notes Notice.

It is anticipated that the cancellation of the listing of the Convertible Loan Notes on TISE will occur by 14 December 2018 and the admission to trading on AIM of the Conversion Shares will occur by 21 December 2018.

The Company will issue an announcement once the number of Conversion Shares to be issued has been finalised.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Circular containing notice of the General Meeting, a copy of which is available on the Company's website www.ampplc.co.uk.

 

Contacts:

 

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

Peter Rigby

 

finnCap Ltd                                                                                       020 7220 0500

Ed Frisby / Simon Hicks (Corporate Finance)      

Andrew Burdis / Richard Chambers (ECM)

 

Whitman Howard Ltd                                                                    020 7659 1234

Hugh Rich

Nick Lovering                                                                   

 

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 aims to balance the transmission grid at times of peak demand.

 

www.ampplc.co.uk


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Aggregated Micro Power Holdings PLC

Price: 70

Market: AIM
Market Cap: £44.38 m
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