Last checked at 24 Oct 2018 15:44
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
24 October 2018
AFC Energy PLC
("AFC Energy" or the "Company")
Grant of Options and Director Dealing
AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that it has today agreed to grant options over 4,455,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") (the "Options"). Of these, 1,955,000 Options have been granted to participating employees under the rules of the AFC Energy plc Enterprise Management Incentive Share Option Scheme (the "EMI Scheme") and 2,500,000 Options have been granted to Jim Gibson, Chief Operating Officer of the Company. No Options have been granted to other directors at this time.
The Options are exercisable at a price of 8.8 pence per share and will vest on the third anniversary of the date of grant of the Options and are exercisable for seven years thereafter. The purpose of the EMI Scheme is to recognise individuals' performance and to provide further incentivisation.
In the current financial year, 860,000 pre-existing options have lapsed and therefore, following the issue of these Options, there will be options over a total of 13,660,000 Ordinary Shares representing 3.5 per cent. of the current issued share capital of the Company and warrants over 4,643,800 Ordinary Shares representing approximately 1.2 per cent. of the current issued share capital of the Company.
For further information, please contact:
AFC Energy plc Adam Bond (Chief Executive Officer)
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+44 (0) 20 3697 1209 |
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker David Foreman Richard Salmond
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+44 (0) 20 7894 7000 |
M C Peat & Co LLP - Joint Broker Charlie Peat |
+44 (0) 20 7104 2334 |
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jim Gibson | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chief Operating Officer | ||||
b) | Initial notification/Amendment | Initial | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | AFC Energy PLC | ||||
b) | LEI | 213800SRJST19GNS9U35 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Nominal value options over ordinary shares of 0.1p each | ||||
Identification code | GB00B18S7B29 | |||||
b) | Nature of the transaction | Grant of options | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price | N/A Single transaction | ||||
e) | Date of the transaction | 22 October 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||