Last checked at 6 Jan 2020 11:25
6 January 2020
AFC Energy plc
("AFC Energy" or "the Company")
Grant of Options
AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that the Remuneration Committee proposed the grant on December 31, 2019 and the Board ratified on January 6, 2020 the grant of options over 2,750,000 ordinary shares of 0.1 pence each to Graeme Lewis, Company Secretary.
The options are exercisable at a price of 16 pence, the market price on December 31, 2019, and will vest
·; 900,000 on December 31, 2020,
·; 900,000 on December 31, 2021, and
·; 950,000 on December 31, 2022.
The options will be exercisable between the vesting date and the tenth anniversary of the date of grant but are otherwise unconditional.
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Graeme Lewis | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Finance director and Company Secretary | |||
b)
| Initial notification /Amendment
| Initial Notification | |||
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 | Ordinary Shares of 0.1p each | |||
Identification code | GB00B18S7B29 | ||||
b)
| Nature of the transaction
| Grant of options | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Grant of shares options
| £0.16 | 2,750,000 |
| ||
d)
| Aggregated information | ||||
- Aggregated volume | 2,750,000 shares | ||||
- Price | £0.16 | ||||
e)
| Date of the transaction
| 6 January 2019 | |||
f)
| Place of the transaction | London Stock Exchange, AIM | |||
For further information, please contact:
AFC Energy plc Adam Bond (Chief Executive Officer) | +44 (0) 1483 276 726 |
WH Ireland - Nominated Adviser and Joint Broker Mike Coe/ Chris Savidge - Corporate Finance Jasper Berry - Corporate Broking | +44 (0) 117 945 3470 |
M C Peat & Co LLP - Joint Broker Charlie Peat | +44 (0) 20 7104 2334 |
Tuva Partners - Public Relations James Kennedy | +44 (0) 7809 495 759
|
About AFC Energy
AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past twelve years in the UK, is now being deployed in electric vehicle chargers, off-grid decentralised power systems and industrial gas plants as part of a portfolio approach to the decarbonisation of local electricity needs.