Aggregated Micro Power Holdings plc

("AMP", "AMP Group" or the "Company")

Pre Close Period Trading Update

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 pre-close period trading update in respect of the twelve months to 31 March 2017.

Over the last twelve months, AMP has been transformed into one of the leading UK suppliers of wood fuels under the Forest Fuels brand. At the same time we have grown our project development business with finance provided via third party infrastructure vehicles producing development fee revenues for this year and the prospect of deferred development fees in due course.

AMPIL funds under management have grown to £36m and comprises 66 operational boilers, one heat pump and the construction of 24MWs of peaking plant assets on long terms contracts.

We are intending to announce our full year audited results at or around the end of June 2017.

Pre-Close Highlights for the year ending 31 March 2017

·    AMP Group will report revenues in excess of the £15m target

·    AMP Group EBITDA* covers interest payments on the £10m of Convertible Notes^(a)

·    Successful integration of three fuels businesses under the Forest Fuels brand supplying over 100,000 tonnes of wood chip and wood pellet serving over 2,200 active customers

·    During the twelve month period, AMP's project business arranged financing for 48 boilers and one heat pump with a gross development value of £7.6m financed by AMPIL^(b) and AMPIL2^(b) and a 3MW peaking plant financed by AMPIL2^(b) 

·    AMP has developed and arranged finance for a 21MW peaking plant at Kingsnorth which is in construction for a value of £14.1m

·    AMP has sold its interest in 37.5MWs of peaking plants to a third party

·    An investment, post year end, in IncubEx^(c) of US$778,718 to support its initial successful fundraise. A separate announcement has been made by IncubEx

* excluding non-recurring items

Richard Burrell, Chief Executive of Aggregated Micro Power Holdings plc, said:

"The acquisition of three fuels businesses, which will see further turnover growth next year reflecting a full year's trading, has made for a transformational year at AMP. At the same time, AMPIL funds under management have grown to £36m comprising operational boilers, in-development peaking plant assets and other biomass assets on long term contracts. AMP has a growing pipeline of new project developments which should continue to generate upfront development fees as well as deferred development fees in subsequent years and hence we look forward to the future with confidence."

^(a)    The Convertible Notes have an 8 per cent. coupon per annum, paid quarterly in arrears and redeem at par, if not previously converted, on 30 March 2021. The Company has issued £10.01m Convertible Notes. The three most recent tranches of Convertible Notes comprising £5.94m have a conversion price equal to 86 pence per Ordinary Share. The initial tranche of Convertible Notes were issued in March 2016 for a nominal value of £4.07m and are identical in every respect, save for the conversion price, which is 70 pence per Ordinary Share. The Company can redeem the Convertible Notes at par after 31 March 2018 or the Convertible Note holder can convert the Convertible Notes into Ordinary Shares.

^(b)    AMPIL and AMPIL2 are special purpose vehicles which are wholly owned by Law Debenture Intermediary Corporation plc as trustee for general charitable purposes. AMPIL and AMPIL2 can issue listed loan notes to fund renewable energy projects acquired from AMPH and/or other developers. AMPIL2 which was launched in October 2016 with an initial £10m is the second special purpose vehicle which AMP Group has been able to access for its pipeline of developments and it follows on from the first AMPIL (Aggregated Micro Power Infrastructure Limited) special purpose vehicle which raised £12.4m from institutional and other investors in 2014 and 2015.

^(c)    IncubEx, LLC is a private limited liability company which will focus on product and business development, in conjunction with market-leading partners, to innovate and incubate new financial products and services that meet the needs of the rapidly growing global commodities markets. IncubEx brings together part of the team that helped build Climate Exchange into a successful business and Neil Eckert has become its non-executive chairman. As is the case with AMPIL and AMPIL2, certain directors of AMP have also invested personally in IncubEx. AMP's investment in IncubEx does not constitute a related party transaction under rule 13 of the AIM Rules for Companies, however, all those AMP directors who personally invested in this funding round (being all directors save for CFO Mark Tarry) excluded themselves from the Board's decision for AMP to invest in IncubEx.

Contacts

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 facilities which aim to balance the transmission grid at times of peak demand.

www.ampplc.co.uk

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.