Last checked at 13 Mar 2017 07:00
13 March 2017
AFC Energy PLC
("AFC Energy" or the "Company")
Notification of Major Interest in Shares - Schroders
AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to confirm receipt of a "TR-1 - Notification of Major Interest in Shares" from Schroders Investment Management Ltd ("Schroders") notifying the Company of Schroder's new 8.441% interest in AFC Energy. Schroders were the largest single investor in the Company's recent £6m placement with a £3.3m investment in AFC Energy.
Adam Bond, AFC Energy's Chief Executive Officer, said: "We are delighted to welcome onto AFC Energy's shareholder register one of the UK's largest and most well regarded and respected institutional investors. This investment signifies confidence in the business and its strategy, further demonstrating the material technical and commercial progress AFC Energy is making, together with the pipeline of projects we continue to progress and hope to consolidate throughout the course of 2017."
For further information, please contact:
AFC Energy plc Adam Bond (Chief Executive Officer)
|
+44 (0) 20 3697 1209 |
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker Andrew Craig 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 |
Lionsgate Communications - Public Relations Jonathan Charles
|
+44 (0) 20 3697 1209 |
About AFC Energy
AFC Energy plc has developed and successfully demonstrated an alkaline fuel cell system, which converts hydrogen into "clean" electricity. AFC Energy's key project POWER-UP demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany in January 2016. The Company is now looking to build upon an already established pipeline of commercial opportunities and drive the findings from the development phase of the technology into a technically optimised and commercially relevant fuel cell system. For further information, please visit our website: ww.afcenergy.com
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi |
1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii | AFC Energy plc | |||
2 Reason for the notification (please tick the appropriate box or boxes): | ||||
An acquisition or disposal of voting rights | ü | |||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | ||||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | ||||
An event changing the breakdown of voting rights | ||||
Other (please specify): | Type 1 disclosure as per Transparency Directive II Regulation | ü | ||
3. Full name of person(s) subject to thenotification obligation: iii | Schroders plc & Schroder Investment Management Limited | |||
4. Full name of shareholder(s) (if different from 3.):iv | ||||
5. Date of the transaction and date onwhich the threshold is crossed orreached: v | 09.03.17 | |||
6. Date on which issuer notified: | 10.03.17 | |||
7. Threshold(s) that is/are crossed orreached: vi, vii | Above 5% | |||
8. Notified details: | ||||||||||||||||
A: Voting rights attached to shares viii, ix | ||||||||||||||||
Class/type ofshares if possible usingthe ISIN CODE | Situation previousto the triggeringtransaction | Resulting situation after the triggering transaction | ||||||||||||||
NumberofShares | NumberofVotingRights | Numberof shares | Number of votingrights | % of voting rights x | ||||||||||||
Direct | Direct xi | Indirect xii | Direct | Indirect | ||||||||||||
Ordinary
GB00B18S7B29 | Below 5% | Below 5% | 33,000,000 | N/A | 33,000,000 | N/A | 8.441% | |||||||||
B: Qualifying Financial Instruments | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Expirationdate xiii | Exercise/Conversion Period xiv | Number of votingrights that may beacquired if theinstrument isexercised/ converted. | % of votingrights | ||||||||||||
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Exercise price | Expiration date xvii | Exercise/Conversion period xviii | Number of voting rights instrument refers to
| % of voting rights xix, xx
| |||||||||||
Nominal | Delta | |||||||||||||||
Total (A+B+C) | ||||||||||||||||
Number of voting rights | Percentage of voting rights | |||||||||||||||
33,000,000 | 8.441% | |||||||||||||||
9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi | ||
Schroder Investment Management Limited 33,000,000 8.441% | ||
Proxy Voting: | ||
10. Name of the proxy holder: | ||
11. Number of voting rights proxy holder will ceaseto hold: | ||
12. Date on which proxy holder will cease to holdvoting rights: | ||
13. Additional information: | The shares referred to in section 9 are held in portfolios managed by those firms on a discretionary basis for clients under investment management agreements. This disclosure has been calculated based on issue share capital amount 390,948,205. | |
14. Contact name: | Chloe Talbot | |
15. Contact telephone number: | 020 7658 6000 | |