Awards under Long-Term Incentive Plan

Active Energy Group PLC

19 July 2023

 

19 July 2023

Active Energy Group Plc

("Active Energy" or the "Company")

Awards under the Company's Long-Term Incentive Plan

Active Energy (AIM: AEG, OTCQB: ATGVF) the international biomass based renewable energy business, announces awards under the Company's new long-term incentive plan (the "LTIP").  The LTIP, which was approved by the Company's shareholders at the annual general meeting held on 11 July 2023, has been designed to incentivise the Company's Directors and members of the Company's senior management team (together the "Participants").

The LTIP has been established to promote long-term value creation for Active Energy's shareholders and to align the interests of the Participants with shareholders. Awards under the LTIP take the form of premium priced options over the Company's ordinary shares of 0.35 pence each (the "Ordinary Shares").  Once exercised, the Participants are required to hold the Ordinary Shares issued to them for a minimum period of six months. The LTIP allows for up to 12% of the Company's issued share capital from time to time to be allocated to Participants.

Initial LTIP awards

The Company has today granted options over 8,283,840 Ordinary Shares to certain Participants (the "Options") under the LTIP.  The Options have been granted in three tranches, with each tranche having a different vesting period and exercise price, as follows:

·      3,594,470 Options have an exercise price of 8.3 pence per Ordinary Share (which represents a circa 35% premium to the closing mid-market price of an Ordinary Share on 18 July 2023, the date prior to grant) and vest immediately ("Tranche 1");

·      2,344,685 Options have an exercise price of 10 pence per Ordinary Share (which represents a circa 20% premium over the Tranche 1 exercise price) and vest on 18 July 2024 ("Tranche 2"); and  

·      2,344,685 Options have an exercise price of 12 pence per Ordinary share (which represents a circa 20% premium over the Tranche 2 exercise price) and vest on 18 July 2025 ("Tranche 3").

All of the Options expire ten years from the date of grant and are subject to additional performance related vesting criteria. In total, the Options represent 5.12% of the Company's current issued Ordinary Shares and, when taken with the existing options and warrants over Ordinary Shares, the Company will have options and warrants outstanding over 8.26% of the Company's issued share capital.

Director and PDMR grants

A total of 3,354,470 Options have been awarded to Directors of Active Energy and persons discharging managerial responsibilities (as defined in UK MAR) ("PDMRs"):

Director / PDMR	Tranche 1 Options awarded	Tranche 2 Options awarded	Tranche 3 Options awarded	Total Options awarded	Total number of Options and warrants held now
James Leahy, Chairman	240,000	80,000	80,000	400,000	400,000
Michael Rowan, CEO	1,294,906	971,178	971,178	3,237,262	5,623,855
Max Aitken, NED	60,000	20,000	20,000	100,000	239,360
Jason Zimmermann, NED	60,000	20,000	20,000	100,000	239,360
Michelle Fagan, CFO	404,658	202,329	202,329	809,316	843,312
Steve Schaar, COO	647,453	485,589	485,589	1,618,631	1,618,631
Barron Hewetson, CTO	647,453	485,589	485,589	1,618,631	1,618,312

ENDS

Enquiries: 

Active Energy Group Plc	Michael Rowan (Chief Executive Officer) Michelle Fagan (Chief Financial Officer)	[e-mail]
Allenby Capital Limited Nominated Adviser and Broker	Nick Naylor/James Reeve/Daniel Dearden-Williams (Corporate Finance) Amrit Nahal (Sales/Corporate Broking)	Office: [phone]
Camarco Financial PR Adviser	Tom Huddart / Emily Hall / Lily Pettifar	[e-mail] Office: [phone]
Scoville PR US PR Adviser	John Williams	[e-mail]

Website	LinkedIn	Twitter
www.aegplc.com	www.linkedin.com/company/activeenergy	https://twitter.com/aegplc @aegplc

About Active Energy Group:

Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels. Its patented product CoalSwitch® is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring significant plant modification. Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch®.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Leahy Chairman
2	Reason for the notification
a)	Position/status	See 1a)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Active Energy Group plc
b)	LEI	213800P9PW3HJ5YJRK43
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 Identification code	Options over ordinary shares of GBP0.0035 each in Active Energy Group plc Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 240,000 8.3 pence 80,000 10 pence 80,000 12 pence
d)	Aggregated information - Aggregated volume - Price	400,000 n/a
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Rowan CEO
2	Reason for the notification
a)	Position/status	See 1a)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Active Energy Group plc
b)	LEI	213800P9PW3HJ5YJRK43
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 Identification code	Options over ordinary shares of GBP0.0035 each in Active Energy Group plc Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 1,294,906 8.3 pence 971,178 10 pence 971,178 12 pence
d)	Aggregated information - Aggregated volume - Price	3,237,262 n/a
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Max Aitken Non-Executive Director
2	Reason for the notification
a)	Position/status	See 1a)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Active Energy Group plc
b)	LEI	213800P9PW3HJ5YJRK43
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 Identification code	Options over ordinary shares of GBP0.0035 each in Active Energy Group plc Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 60,000 8.3 pence 20,000 10 pence 20,000 12 pence
d)	Aggregated information - Aggregated volume - Price	100,000 n/a
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jason Zimmermann Non-Executive Director
2	Reason for the notification
a)	Position/status	See 1a)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Active Energy Group plc
b)	LEI	213800P9PW3HJ5YJRK43
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 Identification code	Options over ordinary shares of GBP0.0035 each in Active Energy Group plc Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 60,000 8.3 pence 20,000 10 pence 20,000 12 pence
d)	Aggregated information - Aggregated volume - Price	100,000 n/a
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michelle Fagan Chief Financial Officer
2	Reason for the notification
a)	Position/status	See 1a)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Active Energy Group plc
b)	LEI	213800P9PW3HJ5YJRK43
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 Identification code	Options over ordinary shares of GBP0.0035 each in Active Energy Group plc Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 404,658 8.3 pence 202,329 10 pence 202,329 12 pence
d)	Aggregated information - Aggregated volume - Price	809,316 n/a
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steve Schaar Chief Operating Officer
2	Reason for the notification
a)	Position/status	See 1a)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Active Energy Group plc
b)	LEI	213800P9PW3HJ5YJRK43
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 Identification code	Options over ordinary shares of GBP0.0035 each in Active Energy Group plc Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 647,453 8.3 pence 485,589 10 pence 485,589 12 pence
d)	Aggregated information - Aggregated volume - Price	1,618,631 n/a
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Barron Hewetson Chief Technical Officer
2	Reason for the notification
a)	Position/status	See 1a)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Active Energy Group plc
b)	LEI	213800P9PW3HJ5YJRK43
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 Identification code	Options over ordinary shares of GBP0.0035 each in Active Energy Group plc Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 647,453 8.3 pence 485,589 10 pence 485,589 12 pence
d)	Aggregated information - Aggregated volume - Price	1,618,631 n/a
e)	Date of the transaction	18 July 2023
f)	Place of the transaction	Outside a trading venue

 

END