Grant of Options and Director Dealing

RNS Number : 0864F

AFC Energy Plc

24 October 2018

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

24 October 2018

AFC Energy PLC

("AFC Energy" or the "Company")

Grant of Options and Director Dealing

AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that it has today agreed to grant options over 4,455,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") (the "Options"). Of these, 1,955,000 Options have been granted to participating employees under the rules of the AFC Energy plc Enterprise Management Incentive Share Option Scheme (the "EMI Scheme") and 2,500,000 Options have been granted to Jim Gibson, Chief Operating Officer of the Company. No Options have been granted to other directors at this time.

The Options are exercisable at a price of 8.8 pence per share and will vest on the third anniversary of the date of grant of the Options and are exercisable for seven years thereafter. The purpose of the EMI Scheme is to recognise individuals' performance and to provide further incentivisation.

In the current financial year, 860,000 pre-existing options have lapsed and therefore, following the issue of these Options, there will be options over a total of 13,660,000 Ordinary Shares representing 3.5 per cent. of the current issued share capital of the Company and warrants over 4,643,800 Ordinary Shares representing approximately 1.2 per cent. of the current issued share capital of the Company.

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	[phone]
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker David Foreman Richard Salmond	[phone]
M C Peat & Co LLP - Joint Broker Charlie Peat	[phone]

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	Jim Gibson
2.	Reason for the Notification
a)	Position/status	Chief Operating Officer
b)	Initial notification/Amendment	Initial
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	AFC Energy PLC
b)	LEI	213800SRJST19GNS9U35
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	Nominal value options over ordinary shares of 0.1p each
	Identification code	GB00B18S7B29
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 2,500,000
d)	Aggregated information: · Aggregated volume · Price	N/A Single transaction
e)	Date of the transaction	22 October 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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