Last checked at 26 Apr 2023 15:26
26 April 2023
Clean Power Hydrogen plc
("CPH2", the "Company" or the "Group)
PDMR Dealing
Clean Power Hydrogen plc (AIM: CPH2), the UK-based green hydrogen technology and manufacturing group that has developed the IP-protected Membrane-Free Electrolyser, announces that today a total of 2,764,160 new Ordinary Shares (the 'New Ordinary Shares') were issued pursuant to the exercise of options by Jon Duffy, Chief Executive Officer, under the Company's Unapproved Share Option Scheme. In order to meet the cost of exercise as well as PAYE tax and national insurance obligations arising as a result of this transaction, Mr Duffy has subsequently sold 1,704,565 ordinary shares at a price of 15p per share. The selling price has been determined based on a 5 per cent. discount to the ten-day VWAP as calculated as at market close on 21st April 2023. All of the shares that have been sold were acquired by an institutional investor.
Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Dealings in the New Ordinary Shares are expected to commence on or around 8.00 a.m. on 27 April 2023.
Following Admission, the Company's enlarged issued share capital will comprise 268,184,127 ordinary shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules as reflected in the Company's articles of incorporation.
Following the Admission of the New Ordinary Shares and subsequent sale, Mr Duffy will have increased his interest, holding 8,439,751 ordinary shares in the Company, representing 3.1% of the Company's enlarged issued share capital.
For more information, please contact:
Clean Power Hydrogen plc | via Camarco |
Jon Duffy, Chief Executive Officer James Hobson, Chief Financial Officer | |
Cenkos Securities plc - NOMAD & Broker | |
Neil McDonald | +44 (0)131 220 9771 |
Peter Lynch | +44 (0)131 220 9772 |
Adam Rae | +44 (0)131 220 9778 |
Camarco PR | + 44(0) 203 757 4980 |
Billy Clegg | |
Owen Roberts | |
Lily Pettifar |
Notes to Editors
CPH2 is the holding company of Clean Power Hydrogen Group Limited ("CleanPower") which has almost a decade of dedicated research and product development experience. This experience has resulted in the creation of simple, safe and sustainable technology which is designed to deliver a modular solution to the hydrogen production market in a cost-effective, scalable, reliable and long-lasting manner. The Group's strategic objective is to deliver the lowest LCOH in the market in relation to the production of green hydrogen. The Group's MFE technology is already commercially available and demonstrating cost efficiencies and technological advantages. CPH2 is listed on the AIM market and trades under the ticker LON:CPH2.
The information in the below notification is disclosed in accordance with Article 19 of the EU Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA") | ||||
a) | Name | Jon Duffy | |||
2 | Reason for the notification | ||||
a) | Position/status | PDMR - CEO of Clean Power Hydrogen plc | |||
b) | Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name | Clean Power Hydrogen plc | |||
b) | LEI | 9845009D2AB08E5BF491 | |||
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 £0.01 each | |||
Identification code | GB00BP371R64 | ||||
b) | Nature of the transaction | 1) Exercise of options 2) Sale of Shares | |||
c)
| Price(s) and volume(s) | ||||
| Price | Volume | |||
1) | £0.035 | 2,764,160 | |||
2) | £0.15 | 1,704,565 | |||
d)
| Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e) | Date of the transaction | 1) 26 April 2023 2) 26 April 2023 | |||
f) | Place of the transaction | London Stock Exchange (AIM: CPH2) | |||