Issue of Equity and Director Dealing

RNS Number : 1920O

AFC Energy Plc

17 August 2017

 

17 August 2017

AFC Energy PLC

("AFC Energy" or the "Company")

Issue of Equity and Director Dealing

AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that application has been made for the issue of 350,000 ordinary shares of 0.1 pence each ("Ordinary Shares") to Mitchell Field, Non-Executive Director of the Company.

The Ordinary Shares are being issued pursuant to an exercise of warrants under the AFC Deed of Warrant 2009 at an exercise price of 3.13 pence per share.

Following the issue of Ordinary Shares, Mitchell Field will hold an increased interest of 3,311,132 Ordinary Shares, representing approximately 0.85% of the issued share capital of the Company.

The 350,000 new Ordinary Shares will rank pari passu with the Company's existing ordinary share capital and application has been made to the London Stock Exchange for the Ordinary Shares to be admitted to trading which is expected to commence at 8.00 a.m. on 22 August 2017 ("Admission").

Following Admission, the total issued share capital of the Company consists of 391,298,205 Ordinary Shares, none of which are held in treasury. Accordingly, following Admission, the total number of voting rights in the Company will be 391,298,205. This figure may be used by shareholders as the denominator by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	[phone]
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker Andrew Craig Richard Salmond	[phone]
M C Peat & Co LLP - Joint Broker Charlie Peat	[phone]
Lionsgate Communications - Public Relations Jonathan Charles	[phone]

About AFC Energy

AFC Energy plc has developed and successfully demonstrated an alkaline fuel cell system, which converts hydrogen into "clean" electricity. AFC Energy's key project POWER-UP demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany. The Company is now looking to build upon an already established pipeline of commercial opportunities and drive the findings from the development phase of the technology into a technically optimised and commercially relevant fuel cell system.  For further information, please visit our website: www.afcenergy.com

Appendix - PDMR Dealing Disclosure:

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mitchell Field
2.	Reason for the Notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	AFC Energy plc
b)	LEI	N/A
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	Ordinary Shares of 0.1 pence each
	Identification code	GB00B18S7B29
b)	Nature of the transaction	Exercise of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 3.13 pence 350,000 (bought)
d)	Aggregated information: ·     Aggregated volume ·     Price	350,000 ordinary shares of 0.1 pence each bought at 3.13 pence each
e)	Date of the transaction	16 August 2017
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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