Amte Power, a leading manufacturer of lithium-ion and sodium-ion battery cells based in London, is facing a critical financial situation that requires immediate attention. The company’s shares experienced a significant decline of 44%, falling from 8.24 pence to 4.63 pence as of 0824 GMT on Thursday.
Since its last disclosure on June 29, Amte Power’s financial condition has deteriorated further. While the company is actively engaged in discussions with current and potential investors, the outcome remains uncertain. In light of these challenges, a solution must be implemented within the next few business days to avoid administration.
If Amte Power is placed under administration, trading of its shares will be immediately suspended. Unfortunately, the prospects for shareholders to recover any value would be slim.
To address its financial struggles, Amte Power announced in late June that it is exploring various options, including a potential sale of the business. However, at this point, no definitive decisions have been made.
The urgency of Amte Power’s financial situation highlights the need for prompt action. The company is actively seeking a viable solution that can safeguard its operations and ensure a sustainable future.