Director Dealing

RNS Number : 6588M

AFC Energy Plc

22 January 2016

 

AFC Energy plc

 ("AFC Energy" or the "Company")

Director Dealing

AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that on 21 January 2016 the board of AFC Energy issued Adam Bond, Chief Executive Officer of the Company, with 250,000 Ordinary Shares of 0.1p each in the Company ("Ordinary Shares") at par value.

The issue of Ordinary Shares is made pursuant to arrangements detailed in the announcement of Adam Bond's contract renewal on 17 July 2015 under which it was agreed that 1,000,000 new Ordinary Shares would be issued to Adam Bond over four equal tranches. This issue is the second tranche that became due on 31 December 2015.  The remaining tranches will fall due on 30 June 2016 and 31 December 2016.

Adam Bond's holding of AFC Ordinary Shares is now 2,500,000 Ordinary Shares representing approximately 0.81% of the enlarged issued share capital of the Company.

Application has been made to the London Stock Exchange for the shares to be admitted to trading which is expected at 8am on or around 27January 2016.

Following the issue and admission of these shares, the total number of ordinary shares and voting rights in the Company will be 308,153,943. The Company does not hold any shares in treasury. 

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

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For further information, please contact:

AFC Energy plc

Adam Bond (Chief Executive Officer)

[phone]

Zeus Capital Limited - Nominated Adviser and Joint Broker

Phil Walker, Nicholas How                  

Alex Davies, John Goold

[phone]

M C Peat & Co LLP - Joint Broker

Charlie Peat

[phone]

Lionsgate Communications - Public Relations

Jonathan Charles, Rachel Rigby

[phone]

About AFC Energy

AFC Energy plc is fast approaching commercialisation for its proven low-cost alkaline fuel cell system ("KORE"), which converts hydrogen into 'clean' electricity. AFC's key project POWER-UP will demonstrate the world's largest alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany. The date for the demonstration of the 240kW KORE system has been fast tracked to January 2016, representing the final phase of AFC's pre-commercialisation technical development programme and creating the platform for the Company's global commercial fuel cell deployment. For further information, please visit our website: www.afcenergy.com

 

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