Last checked at 17 Aug 2017 07:00
17 August 2017
AFC Energy PLC
("AFC Energy" or the "Company")
Issue of Equity and Director Dealing
AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that application has been made for the issue of 350,000 ordinary shares of 0.1 pence each ("Ordinary Shares") to Mitchell Field, Non-Executive Director of the Company.
The Ordinary Shares are being issued pursuant to an exercise of warrants under the AFC Deed of Warrant 2009 at an exercise price of 3.13 pence per share.
Following the issue of Ordinary Shares, Mitchell Field will hold an increased interest of 3,311,132 Ordinary Shares, representing approximately 0.85% of the issued share capital of the Company.
The 350,000 new Ordinary Shares will rank pari passu with the Company's existing ordinary share capital and application has been made to the London Stock Exchange for the Ordinary Shares to be admitted to trading which is expected to commence at 8.00 a.m. on 22 August 2017 ("Admission").
Following Admission, the total issued share capital of the Company consists of 391,298,205 Ordinary Shares, none of which are held in treasury. Accordingly, following Admission, the total number of voting rights in the Company will be 391,298,205. This figure may be used by shareholders as the denominator by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
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 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
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+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. 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: www.afcenergy.com
Appendix - PDMR Dealing Disclosure:
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Mitchell Field | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Non-Executive Director | ||||
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 | N/A | ||||
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 | ||||
Identification code | GB00B18S7B29 | |||||
b) | Nature of the transaction | Exercise of Options | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information: · Aggregated volume · Price | 350,000 ordinary shares of 0.1 pence each bought at 3.13 pence each | ||||
e) | Date of the transaction | 16 August 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||