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ENSURGE MICROPOWER S/ADR (ENMPY) is a leading provider of innovative energy solutions, specializing in micro-power generation technologies. The company focuses on developing environmentally friendly and cost-effective solutions for off-grid and remote power needs. With a strong commitment to sustainability, Ensurge Micropower aims to revolutionize the energy sector by offering reliable and efficient power solutions that reduce carbon footprint. Their cutting-edge products include solar panels, wind turbines, and energy storage systems, catering to a wide range of industries and applications. Through strategic partnerships and continuous research and development, Ensurge Micropower is at the forefront of the clean energy revolution, driving towards a greener and more sustainable future.
Ensurge Micropower ASA plans to issue convertible loans of up to NOK 60 million, aided by strong pre-commitments from existing shareholders. The loans will offer a 5% annual interest rate and can be converted into shares at a price of NOK 3.00, reflecting the market's recent closing price. Approval from the general meeting is required for the conversion rights. Proceeds from the financing will support corporate initiatives, with an emphasis on compliance with the Norwegian Public Limited Companies Act's equal treatment obligations.
Ensurge Micropower has made significant advancements in delivering battery samples to customers, meeting key cycling requirements for its solid-state lithium micro batteries. The company confirms the manufacturing of samples is expected in early August 2022. Existing customers are actively engaged, with new interest from at least 11 additional clients. Ensurge anticipates its first customer revenue in Q4 2022. The company is also pursuing strategic partnerships and working with investment banks for future financial structures, aiming to leverage its innovative technology across the market.
On June 20, 2022, Ensurge Micropower ASA announced the registration of a share capital increase following the exercise of subscription rights by a former board member. The new share capital now stands at NOK 211,178,713.68, divided into 213,311,832 shares with a par value of NOK 0.99 each. This share capital increase reflects the company's ongoing equity management efforts and may influence shareholder value and stock performance.
Ensurge Micropower ASA announced the issuance of 621,324 shares with an exercise price of NOK 1.35 following the exercise of incentive subscription rights by a former board member. This action will increase the company's share capital to NOK 211,178,713.68, divided into 213,311,832 shares, each with a par value of NOK 0.99. The resolution was made in accordance with a prior Extraordinary General Meeting held on 19 August 2020. Ensurge specializes in solid-state lithium microbatteries for wearable technology and IoT applications.
On 25 May 2022, Ensurge Micropower ASA granted incentive subscription rights to new board members following an Annual General Meeting. Board members Victoire de Margerie and Mark C. Newman each acquired 1,000,000 subscription rights for no consideration, with an exercise price of NOK 2.5. These initial notifications indicate a potential increase in board member incentives, which could positively impact company governance. The transactions occurred outside a trading venue, and the Company's LEI is 5493007QXMCG0WPKFC96.
On May 25, 2022, Ensurge Micropower ASA convened its Annual General Meeting, which approved the issuance of 2,000,000 incentive subscription rights to the two new board members, 1,000,000 each. The exercise price is set at NOK 2.5 per share, with rights vesting over two years in quarterly increments of 12.5%, starting three months post-grant. This strategic move aims to align board member incentives with shareholder interests.
The Annual General Meeting of Ensurge Micropower ASA took place on May 25, 2022. Shareholders approved all proposals outlined in the meeting notice. This approval indicates strong shareholder support for the company's strategic direction.
For further inquiries, contact Ståle Bjørnstad, Investor Relations, at stale.bjornstad@ensurge.com, or Kevin Barber, CEO, at kevin.barber@ensurge.com.
Ensurge Micropower ASA (OTCIQ: ENMPY) has released its Q1 2022 report, highlighting several key advancements. The company achieved improved unit cell cycling performance and validated packaging materials for hermetic sealing. It reported successful handling of ultra-thin substrates and filed multiple patents. Existing customers are actively integrating the Ensurge microbattery into their products, with significant interest from new clients. The demand is driven by form factor flexibility, energy density, and fast charging capabilities. Ensurge plans to provide microbattery samples to customers shortly.
Ensurge Micropower ASA announced its Annual General Meeting for 25 May 2022, referencing a proposal from the Nomination Committee to enhance its Board. The proposal includes two new Board candidates: Victoire de Margerie and Mark Newman, both with extensive experience in the materials and battery industries. De Margerie brings 35 years of leadership across multiple countries, while Newman is a recognized expert in batteries and electric vehicles, known for his influential research. This move aligns with the Company's progression towards commercialization in the battery sector.
Ensurge Micropower ASA will hold a web conference on May 25, 2022, at 8:00 AM CET to discuss its first quarter 2022 results. CEO Kevin Barber will present insights into the company's technology and market strategies. The event can be accessed online and will later be available as a recording on Ensurge's investor relations website. The company specializes in ultrathin, flexible, and safe energy storage solutions, leveraging its innovative solid-state lithium battery technology for diverse applications. Ensurge aims to deliver powerful, lightweight, and cost-effective rechargeable batteries.
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