AMTE Power PLC Agreed changes to Concert Party (1450G)
March 28 2022 - 4:00AM
UK Regulatory
TIDMAMTE
RNS Number : 1450G
AMTE Power PLC
28 March 2022
28 March 2022
AMTE POWER PLC ("AMTE" or the "Company")
Agreed changes to Concert Party
Under the City Code on Takeovers and Mergers (the "Code")
published by the Panel on Takeovers and Mergers (the "Panel"), a
concert party arises where persons who, pursuant to an agreement or
understanding (whether formal or informal), co-operate to obtain or
consolidate control (as defined in the Code) of a company or to
frustrate the successful outcome of an offer for a company.
Certain persons will be presumed, as set out in the Definitions
in the Code, to be persons acting in concert with other persons in
the same category unless the contrary is established, including
shareholders in a private company who, following the
re-registration of that company as a public company in connection
with an initial public offering or otherwise, become shareholders
in a company to which the Code applies.
In its admission document dated 9 March 2021, AMTE stated that
it had agreed with the Panel that a concert party (the "March 2021
Concert Party") existed in the context of the Company, comprising
each of the individuals in the following two groups:
-- certain founders of the Company's business, and their
respective close associates (the "Founder Group"), and
-- certain individuals introduced to the Company directly or
indirectly by a Mr P Tillett, and their respective close associates
(the "P Tillett Group").
The Company has now agreed with the Panel that the March 2021
Concert Party is no longer itself a single concert party, but now
comprises two separate concert parties:
-- the Founder Group, which has an aggregate interest in the
issued share capital of the Company of approximately 16.6 per
cent., and
-- the P Tillett Group, which has an aggregate interest in the
issued share capital of the Company of approximately 17.8 per
cent.
The members of these two groups are as follows:
The Founder Group:
Percentage of
Number of ordinary issued share
shares capital
S Farmer 2,203,034 6.12%
K Brundish 1,980,940 5.50%
P & S Betts 990,470 2.75%
J Fox 685,710 1.91%
W Baillieu 78,761 0.22%
G Morris 27,268 0.08%
E Baillieu 2,571 0.01%
The P Tillett Group:
Number of ordinary Percentage
shares of issued share
capital
C Maine 3,767,395 10.47%
P Tillet 797,489 2.22%
S Snow 661,890 1.84%
K Levins 340,850 0.95%
C Simmons 229,372 0.64%
A Waite 174,591 0.49%
M Billiet 170,425 0.47%
J Tobelem 136,340 0.38%
W Sissen 109,072 0.30%
L Speri 34,085 0.09%
The individuals within these two groups can now each acquire
further shares in the Company without triggering an obligation
under Rule 9 of the Code to make an offer for the whole of its
issued share capital, provided such acquisitions do not cause the
aggregate interest of their respective concert party to reach or
exceed 30 per cent. of the Company's issued share capital.
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain. .
For further information contact:
AMTE Power plc Tel: +44 (0)1847 867 200
Kevin Brundish (Chief Executive Officer)
James Hobson (Chief Financial Officer)
WH Ireland Limited (NOMAD and Joint Broker) Tel: +44 (0)207 220 1666
Chris Fielding / Ben Good
SI Capital Limited (Joint Broker) Tel: +44 (0)1483 413 500
Nick Emerson / Nick Briers
Camarco Tel: +44 (0)20 3757 4992
Ginny Pulbrook / Tom Huddart / Rosie Driscoll
Notes to editors
AMTE Power was founded in 2013 and is a leading developer and
manufacturer of lithium-ion and sodium-ion battery cells for
specialist markets. In March 2021, the Company listed on the AIM
market of the London Stock Exchange, making the Company the only
listed UK battery manufacturer. The Company is focused on launching
a series of next generation battery cells based on new chemistries
and cell structures that are designed to solve key problems in
power delivery, energy performance, and safety. These new products
are targeted at a range of specialist markets including the
automotive industry, oil and gas market and energy storage sector.
AMTE's purpose-built cell manufacturing facility in Thurso,
Scotland has the second largest cell manufacturing capacity in the
UK and the Company also has a product development team based in
Oxford. For further information visit the Company's website:
www.amtepower.com
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