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Aggregated Micro Power unveils £3.7mln premium share placing

Investors are buying shares at 98.5p each - a modest premium to last night's close

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Power to the people: AMP a specialist in wood fuels and the financing and installation of distributed energy projects

The alternative energy company Aggregated Micro Power Holdings PLC (LON:AMPH) has raised £3.7mln via a stock placing.

Investors bought shares at 98.5p each, a modest premium to Thursday’s closing price.

READ: Aggregated Micro Power fills in northern gap with Billingtons buy

A small portion of the cash will be used to help bolster the balance sheet and meet working capital requirements.

Use of proceeds

The funds will also be deployed as ‘market collateral’ for grid balancing (£1mln), while £1.5mln will be invested in separate raising by partner Incubex.

The placing was done by way of accelerated book-build overseen by City firms finnCap and Whitman Howard.

AMP, a specialist in wood fuels and the financing and installation of distributed energy projects, said it expects to post turnover of £30mln for the year to March.

Quick facts: Aggregated Micro Power Holdings PLC

Price: 70 GBX

AIM:AMPH
Market: AIM
Market Cap: £44.38 m
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Aggregated Micro Power books strong year of growth

Richard Burrell, chief executive of Aggregated Micro Power Holdings plc (LON:AMPH), tells Proactive's Andrew Scott 2019 is shaping up to be another exciting year after enjoying strong growth last year. The bulk of the revenues - £40mln (2017: £15.8mln) came from the wood fuels divisions,...

on 4/7/18

2 min read