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Pin to quick picksAFC Energy Regulatory News (AFC)

Share Price Information for AFC Energy (AFC)

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Share Price: 18.34
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Grant of Share Options

2 May 2024 07:00

RNS Number : 9112M
AFC Energy Plc
02 May 2024
 

AFC Energy Plc

2 May 2024

 

AFC Energy Plc

("AFC Energy" or the "Company")

Grant of Share Options

AFC Energy (AIM: AFC) is pleased to announce that it has today granted awards by way of nominal cost options over, in aggregate, 5,946,632 ordinary shares of £0.001 each in the Company ("Ordinary Shares") ("Awards") to certain executive directors, senior management and employees under the Company's Performance Share Plan ("PSP"). This represents 0.796 % of the Company's total issued share capital.

The following Directors of the Company have been granted Awards under the Company's PSP:

Name of PDMR

Title

Maximum number of Ordinary Shares (Total Award)

Adam Bond

Chief Executive Officer

2,711,082

Peter Dixon-Clarke

Chief Financial Officer

1,238,592

 

The Company's PSP has been designed to reward employees of the Company for performance that delivers value for shareholders and incentivise employees to work effectively together to deliver key corporate objectives.

The Awards entitle the individual to acquire Ordinary Shares up to the maximum number set out above, subject to the satisfaction of certain performance conditions and continued employment. The Awards will vest on 2 May 2027, or as soon as practicable after this date.

The performance testing relating to the Awards will be split equally between an Absolute Total Shareholder Return ("TSR") performance condition and a Relative TSR condition.

Under the Absolute TSR condition, at the vesting date the Company's TSR over the three year performance period will be calculated and tested against a threshold of 15% per annum. Below this threshold this portion of the Award will be forfeited. At the threshold, 12.5% of the maximum Award will vest and this will increase linearly up to 50% vesting for the achievement of 30% per annum.

Under the Relative TSR condition, the Company's TSR as at the end of the Performance Period will be ranked against constituents of the Solactive Global Hydrogen Index (ISIN: DE000SL0DNU9) as at grant. A ranking below a median threshold will mean this portion of the Award will be forfeited. At the median threshold, 12.5% of the maximum Award will vest and this will increase linearly up to 50% vesting at upper quartile ranking.

Set out below are the notifications made in accordance with Article 19 of the UK Market Abuse Regulation.

For further information, please contact:

 

AFC Energy plc

Gerry Agnew (Chair of Remuneration Committee) 

 

+44 (0) 14 8327 6726

investors@afcenergy.com

 

Peel Hunt LLP Nominated Adviser and Joint Broker

Richard Crichton / Georgia Langoulant / Brian Hanratty

 

+44 (0) 207 418 8900

 

Zeus Joint Broker

David Foreman / James Hornigold (Investment Banking)

Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)

+44 (0) 203 829 5000

 

RBC Capital Markets - Joint Broker

Matthew Coakes / Teri Su

Eduardo Famini / Jack Wood

 

FTI Consulting - Financial PR Advisors

Ben Brewerton / Tilly Abraham / Evie Taylor

 

+44 (0) 20 7653 4000

 

 

 

+44 (0) 203 727 1000

afcenergy@fticonsulting.com

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associate

a)

 

Name

 

Adam Bond

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Executive Officer

 

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 0.1 pence each in the Company ("Shares")

Identification code

ISIN: GB00B18S7B29

b)

 

Nature of the transaction

 

 

Grant of awards over Shares under the AFC Energy Plc Performance Share Plan

c)

 

Price(s) and volume(s)

 

Price per share

Volume

£0.001

2,711,082

 

d)

Aggregated Information

 

Volume

 

Price

 n/a single transaction

 

e)

Date of transaction

2 May 2024

f)

Place of transaction

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associate

a)

 

Name

 

Peter Dixon-Clarke

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer

 

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 0.1 pence each in the Company ("Shares")

Identification code

ISIN: GB00B18S7B29

b)

 

Nature of the transaction

 

 

Grant of awards over Shares under the AFC Energy Plc Performance Share Plan

c)

 

Price(s) and volume(s)

 

Price per share

Volume

£0.001

1,238,592

 

d)

Aggregated Information

 

Volume

 

Price

 n/a single transaction

 

e)

Date of transaction

2 May 2024

f)

Place of transaction

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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