Grant of Options

RNS Number : 2355O

Pineapple Power Corporation PLC

08 February 2021

 

08 February 2021

Pineapple Power Corporation PLC

("Pineapple" or the "Company")

Grant of Options

Pineapple Power Corporation PLC, traded on the Standard Market segment of the London Stock Exchange under the symbol PNPL, announces the grant of options over new ordinary shares of 0.01p each in the Company ("Options").

A total of 6,000,000 Options have been awarded to Directors and Advisors involved in the continuing advancement of the Company's goal to complete a reverse take-over transaction in the renewable energy sector.

The Options have an exercise price of 11p per Ordinary Share. The Options vest and are exercisable 6 months from the date of grant and expire in two years from the date of grant.  The Options granted represent approximately 10 per cent of the Company's current issued share capital. The exercise price is equal to the closing price of the shares on the LSE on February 5, 2021. The Options have been granted in the amounts set out below:

Name	Position Held	No. of Options granted
Claudio Morandi	Non-executive Director	1,250,000
Andrew Holland	Non-executive Director	1,250,000
Clive de Larrabeiti	Corporate Finance Advisor	1,250,000
Peter Mills	Corporate Administrator	1,250,000
Richard Offer	Corporate Finance Advisor	500,000
Ryan Reynolds	Financial Advisor	500,000
		6,000,000

Claudio Morandi, Director stated -

"T he Board is committed to pursuing acquisition opportunities and completing a reverse takeover in the renewable or clean energy sector. The grant of these options further aligns our interests with our shareholders. We are pleased with our progress to date and welcome the positive interest in our company exhibited by our share price and trading liquidity and we are focusing on continuing this progress for the benefit of all our stakeholders."

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them   in accordance with the requirements of the Market Abuse (Amendment) (EU exit) Regulations 2019/310 are set out here.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Claudio Morandi
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	Pineapple Power Corporation PLC
b)	LEI	213800BTD7JL99MTGQ68
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 0.01 pence each
	Identification code	GB00BD0SN947
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Exercise price of Nil per Option - £0.10	1,250,000
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	5 February 2021
f)	Place of the transaction	London Stock Exchange

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	Andrew Holland
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	Pineapple Power Corporation PLC
b)	LEI	213800BTD7JL99MTGQ68
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 0.01 pence each
	Identification code	GB00BD0SN947
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Exercise price of Nil per Option £0.10	1,250,000
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	5 February 2021
f)	Place of the transaction	London Stock Exchange

For further information please contact -

Pineapple Power Corporation PLC
Claudio Morandi - Director Clive de Larrabeiti Corporate Finance Advisor [e-mail]	[phone] [phone]
Joint Corporate Broker Peterhouse Capital Charles Goodfellow [e-mail] Joint Corporate Broker Axis Capital Markets Richard Hutchison [e-mail]	[phone]   [phone]
Media Relations
David Burton Total Market Solutions [e-mail]
Tancredi Intelligent Communications Salamander Davoudi [e-mail] Helen Humphrey [e-mail]	[phone] [phone]

 

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