Launch of SAYE scheme and Director Dealing

RNS Number : 1397Y

AFC Energy Plc

02 September 2022

 

2 September 2022

AFC Energy plc

("AFC" or the "Company")

Launch of SAYE scheme and Director Dealing

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce that it has launched the 2022 Save As You Earn Scheme (the "SAYE" Scheme) for all eligible employees.

The SAYE scheme allows eligible employees to commit to making a deduction from salary on a monthly basis over three years. At the end of the three-year period, employees can purchase the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") at a price of 20.48 pence per Ordinary Share, representing a 20 % discount to the closing market price of the Ordinary Shares prior to the scheme being launched on 3 August 2022. The discount is in line with the limits of the SAYE scheme as defined by HMRC.

The following Persons Discharging Managerial Responsibilities ("PDMRs") have chosen to participate in the 2022 SAYE Scheme:

Name	Director/PDMR	Monthly deduction from pay
Jim Gibson	Director	£300

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction described above. 

1	Details of the person discharging managerial responsibilities / person closely associate
a)	Name	Jim Gibson
2	Reason for the notification
a)	Position/status	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	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	Ordinary Shares of 0.1 pence each in the Company ("Shares")
b)	Nature of the transaction	Grant of awards over Shares under the AFC Energy Plc Save as You Earn Plan
c)	Price(s) and volume(s)	Price per share Volume £0.001 52,734
d)	Aggregated Information Volume Price	n/a single transaction
e)	Date of transaction	1 September 2022
f)	Place of transaction	Outside a trading venue

For further information, please contact:

AFC Energy plc Ben Bradshaw (Head of Marketing)	[phone] [e-mail]
Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Tom Ballard / Alexander Allen	[phone]
M C Peat & Co LLP - Joint Broker Charlie Peat	[phone]
Zeus - Joint Broker Daniel Harris/ James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)	[phone]
FTI Consulting - Financial PR Advisors Ben Brewerton / Nick Hennis / Dhruv Soni	[phone] [e-mail]

 

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