30 Nov 2018 10:51
This announcement contains inside information
30 November 2018
redT energy plc
("redT" or the "Company")
Lapse & Subsequent Grant of Share Options
redT energy plc (AIM:RED), the energy storage solutions company, announces that, following the lapse of 14,779,012 options since the grants made in May 2018, the Board has granted 12,897,222 share options (the "Options") to subscribe for ordinary shares of €0.01 in the Company (the "Ordinary Shares") to staff who have recently joined the company.
The Options will be awarded under the redT energy 2018 Employee Share Option Plan ("Employee Share Option Plan"), which includes a CSOP, EMI and Unapproved part, and the redT energy 2018 Consultant Share Option Plan ("Consultant Share Option Plan"), together "the Plans", which were adopted by the Board on 14 May 2018.
Options over a total of 12,897,222 Ordinary Shares will be granted under the Plans: 6,436,113 under the CSOP part with an exercise price of 5.95 pence per Ordinary Share (being the Market Value), 3,130,000 under the EMI part with an exercise price of 7 pence, 1,831,109 under the Unapproved part with an exercise price of 7 pence, and 1,500,000 under the Consultant Share Option Plan with an exercise price of 7 pence (7 pence being the price at which the company completed the placing as announced on 3 October 2018). The Options will vest between two and five years from the date of grant and are exercisable for a period of three years from the date at which they first vest.
As part of the grant, 2,000,000 Options over Ordinary shares, 630,000 under the EMI part and 1,370,000 under the Unapproved part, will be granted to Fraser Welham as a Director of the Company.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Fraser Welham | |
2. | Reason for the Notification | ||
a) | Position/status | Chief Financial Officer of the Company | |
b) | Initial notification/amendment | Initial notification | |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | redT energy plc | |
b) | LEI | 213800N2NKOTYUNRCU14 | |
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 | Options over ordinary shares of €0.01 each ("Ordinary Shares") | |
Identification code | GB00B11FB960 | ||
b) | Nature of the Transaction | Award of EMI options in respect of 630,000 Ordinary Shares at an exercise price of 7 pence per Ordinary Share. Award of Unapproved Options in respect of 1,370,000 at exercise price of 7 pence per Ordinary Share | |
c) | Price(s) and volume(s) | Price | Volume |
0.07 | 2,000,000 | ||
d) | Aggregated information Aggregated volume Price | N/A (Single transaction) | |
e) | Date of the transaction | 29 November 2018 | |
f) | Place of the transaction | London Stock Exchange, AIM (LON:RED) | |
NOTIFICATION AND PUBLIC DISCLOSURE IN ACCORDANCE WITH THE REQUIREMENTS OF THE EU MARKET ABUSE REGULATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.
Enquiries:
redT energy plc | +44 (0)20 7121 6111 |
Scott McGregor, Chief Executive Officer Fraser Welham, Chief Financial Officer | |
Joe Worthington, Investor & Media Relations | |
Investec Bank plc (Nominated Adviser and Broker) | +44 (0)20 7597 5970 |
Jeremy Ellis / Chris Sim / Alexander Ruffman
| |
VSA Capital (Joint Broker) Andrew Monk / Andrew Raca | +44 (0)20 3005 5000
|
Celicourt Communications (Financial PR) Mark Antelme Jimmy Lea Ollie Mills | +44 (0)20 7520 9266 |
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in the design, manufacture, installation and operation of energy storage infrastructure which creates revenue alongside reliable, low-cost renewable generation for businesses, industry and electricity distribution networks. Using patented vanadium redox flow technology to store energy in liquid, redT's own energy storage machines can be run continually with no degradation: charging and discharging for over 25 years, matching the lifespan of renewable assets in on-grid, off-grid and weak-grid settings.
redT's energy storage solutions, developed over the past 15 years, address today's changing energy market by providing a flexible platform for time shifting surplus renewable power, securing electricity supplies and earning revenue through grid services. The company has customers in the UK, Europe, sub-Saharan Africa, Australia and Asia Pacific. redT energy plc is listed on the London Stock Exchange (AIM:RED) and has experts located in the UK, Europe, Australia, Africa, Asia and the USA. For more information, visit www.redTenergy.com
For sales, press or investor enquiries, please contact the redT team on +44 (0)207 061 6233.
RED.L (RED)