Further to the announcement of 30 June 2016, Aggregated Micro Power Holdings plc (AIM: AMPH), which specialises in the sale of wood fuels and the development of distributed energy projects, is pleased to announce a £5 million fundraising and vendor subscription in connection with the proposed acquisitions of the entire issued share capital of Midlands Wood Fuel Limited (“Midlands Wood Fuel”) and of the wood fuels customer base of Mi-Generation Limited (“Mi-Generation”) (together the “Acquisitions”). The fundraising comprises a placing of ordinary shares of 0.5 pence each (“Ordinary Shares”) at 66.5 pence (the “Issue Price”) per Ordinary Share to raise gross proceeds of £1.535 million (the “Placing”) and a subscription of £3.47 million nominal of convertible loan notes (the “Convertible Notes”) at par (the “CLN Issue”) (the Placing and the CLN Issue together, the “Fundraising”).
Placing to raise gross proceeds of £1.535 million at 66.5 pence per Ordinary Share using existing authorities
- CLN Issue of £3.47 million nominal of Convertible Notes using existing authorities
- Proposed acquisition of Midlands Wood Fuel, a wood fuels supplier to North and Central England
- Proposed acquisition of Mi-Generation’s wood fuels customer base, a Cornwall based supplier of wood fuels
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