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18 Feb 2015 17:24
18 February 2015
Proton Power Systems plc
("Proton Power" or the "Company")
Replacement - Grant of options
This announcement replaces the announcement issued earlier this afternoon (RNS Number: 2629F) and clarifies the options' vesting condition and grant date. The correct amended text is set out in full below:
Proton Power (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that on 18 February 2015 it granted options over ordinary shares in the capital of the Company, at an exercise price of 4 pence per share, to the following directors of the Company:
DirectorThomas Melczer - Business Development Director Ian Peden - ChairmanAchim Loecher - Finance DirectorHelmut Gierse - Non-executive director | No. of options450,000 250,000 450,000 250,000 | Resultantoption holding13,050,000250,0009,400,0005,800,000 |
The options vest immediately, and lapse after 10 years, from the grant date and are only exercisable in the event an offer or a change of control is accepted by the Company in accordance with the option scheme rules (paragraphs 22.1 and 22.1.1.).
Save for the above, the directors' beneficial interests remain unchanged and as previously announced.
For further information:
Proton Power Systems plc | |
Dr Faiz Nahab, CEO | |
Achim Loecher, FD | Tel: +49 (0) 89 127 626 550 |
www.protonpowersystems.com |
Westhouse Securities Limited Nominated adviser and broker |
Tel: +44 (0) 20 7601 6100 |
Antonio Bossi | www.westhousesecurities.com |
About Proton Motor Fuel Cell GmbH
Proton Motor is an expert in industrial fuel cells, fuel cell and hybrid systems with more than 17 years of experience in this sector. Based in Puchheim near Munich, Proton Motor offers complete fuel cell and hybrid systems from a single source - from the development and production through to the implementation of customized solutions. The focus of Proton Motor is on back-to-base mobile, marine and stationary solutions applications. The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customised systems.
Proton Motor acquired SPower GmbH in 2013. Established in 2007, SPower serves IT, telecoms, public infrastructure and healthcare customers in Germany, Europe and the Middle East with power supply solutions for DC and AC power demand. In addition to power supply, SPower also offers solutions for solar systems as well as a new product line for solar energy storage.
Proton Motor Fuel Cells GmbH is a wholly owned subsidiary of Proton Power Systems plc. The Company has been listed on the London Stock Exchange since October 2006 (code: PPS).
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