Call of Convertible Loan Notes
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.
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)
Andrew Burdis / Richard Chambers (ECM)
Whitman Howard Ltd 020 7659 1234
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.
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.
Quick facts: Aggregated Micro Power Holdings PLC
Market Cap: £44.38 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE