Aggregated Micro Power Holdings PLC Call of Convertible Loan Notes (7029G)
November 08 2018 - 2:01AM
UK Regulatory
TIDMAMPH
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 GBP10.01 million nominal. Of these Convertible Loan Notes, the
Directors and management of the Company currently hold, in
aggregate, GBP2.22 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 GBP7.79
million, plus expected interest due to Convertible Loan Note
Holders of approximately GBP0.13 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
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END
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