Ensurge Micropower Asa Stock Price, News & Analysis

Ensurge Micropower ASA announced on March 14, 2023, that its Extraordinary General Meeting (EGM) approved all proposals, including a share capital reduction. This reduction, now registered, brings the company's share capital to NOK 24,422,849.80, divided into 244,228,498 shares, each with a par value of NOK 0.10. A subsequent share capital increase, also resolved in the EGM, will be registered separately. Ensurge focuses on ultrathin, flexible, and safe energy storage solutions, particularly its innovative solid-state lithium battery technology for various applications.

Ensurge Micropower ASA reported that Viking Power Systems Pte Ltd has been allocated 50,750,000 shares in a recent Private Placement, following the approval of issuance for 500,000,000 shares at the Extraordinary General Meeting on March 14, 2023. This allocation raises Viking Power's shareholding to 6.81% of the total outstanding shares of the Company. The disclosure is mandated by Norwegian law as the shareholder has crossed the 5% threshold for voting rights and shares.

This event is pivotal as it signifies a notable increase in Viking Power's stake in Ensurge Micropower ASA.

Ensurge Micropower ASA announced a disclosure by shareholder Robert Napier Keith following the company's recent Private Placement of 500 million new shares. After the allocation, Keith's shareholding dropped to 11.64%, totaling 86,642,557 shares, marking a significant shift in his voting rights and ownership. This disclosure was mandated as Keith fell below the 15% threshold of total voting rights in the company. The announcement aligns with the requirements of the Norwegian Securities Trading Act, reflecting changes in major shareholder positions.

Ensurge Micropower ASA held an Extraordinary General Meeting (EGM) today via electronic means. All agenda proposals from the Company's Board and Nomination Committee were accepted, including a share capital increase associated with the Private Placement announced on February 15, 2023. Additionally, Tomas Persson was elected as a new Board member. The minutes from the EGM will be available on the Company’s website.

Ensurge focuses on innovative solid-state lithium battery technology for energy storage solutions used in various applications, emphasizing flexible and cost-effective rechargeable batteries.

Ensurge Micropower ASA announced the revised proposal by the Nomination Committee for the Extraordinary General Meeting scheduled for March 14, 2023. This includes updates to agenda items 5 and 6 from the earlier Notice dated February 21, 2023. Additionally, an amended version of the Company’s 2022 Subscription Rights Incentive Plan is provided, showcasing revisions to the original proposal. Ensurge, which specializes in ultrathin and safe energy storage solutions, aims to leverage its solid-state lithium battery technology for a range of applications. The Company is publicly listed in Norway with its global headquarters in San Jose, California.

Interim CEO Mark Newman will present the Company's progress in a web conference on Thursday, March 9, 2023, at 12:00 PM Central European Time. Following the event, a recording will be available on the Company's investor relations website. Ensurge Micropower specializes in ultrathin, flexible solid-state lithium microbatteries aimed at wearable devices, IoT sensors, and similar applications. Their manufacturing facility in Silicon Valley integrates patented process technology with roll-to-roll production, enhancing their market position. Ensurge is publicly listed in Norway, with headquarters in Oslo and San Jose.

Ensurge Micropower (OTCQX: ENMPY) recently announced at the TechBlick event that its innovative solid-state lithium microbattery technology surpasses traditional lithium-ion alternatives. It boasts twice the energy density and three times the charging speed, addressing limitations faced by current microbatteries. Key highlights include the microbattery's impressive performance metrics, achieving 700+ Watt-Hours per Liter in a compact design and 80% charging in under 20 minutes. With scalable manufacturing processes and high-density cell-stacking capabilities, Ensurge aims to fill a significant market gap for wearables and hearables by providing ultra-thin, efficient, and customizable battery solutions.

Ensurge Micropower ASA (OTCIQ: ENMPY) released its 4Q 2022 interim report, announcing key updates. Mark Newman has replaced Kevin Barber as interim CEO, presenting a management plan aimed at commercialization. The company secured its first production order for 150,000 microbatteries from a digital health innovator. An evaluation from a consumer electronics partner confirmed Ensurge’s energy density metrics. The production line is now adjusted to meet customer specifications. There is heightened interest with 10 new qualified customers added, and a new management focus on converting this pipeline into revenue, alongside a 30% reduction target for cash burn.

Ensurge Micropower ASA has updated its financial calendar for 2023 and 2022. The company announced that its Q4 2022 Quarterly Report will now be published on February 27, 2023, changing from the previously communicated date of February 23, 2023. This update ensures that stakeholders receive timely financial information.

The announcement aligns with the regulatory requirements outlined in the Euronext Oslo Børs Rule Book II, confirming the company’s commitment to transparency in its financial reporting.