Director/PDMR Shareholding

RNS Number : 5322O

Velocys PLC

10 February 2021

 

News release

Velocys plc

("Velocys" or "the Company")

10 February 2021

Grant of Share Options to Directors

Velocys plc (VLS.L), the sustainable fuels technology company, announces that on 9 February 2021 Henrik Wareborn, Chief Executive Officer and a director of the Company, and Andrew Morris, Chief Financial Officer and a director of the Company, were granted options ("Annual Awards") under the Velocys 2012 Share Option Scheme (as amended) over the Company's £0.01 Ordinary shares ("Ordinary Shares").  The Annual Awards, which have been made under the Rules of the Velocys 2012 Share Option Scheme and are in line with the annual awards made in 2019 which were discussed with major shareholders, are as follows:

Name of Director	Type of share option	Number of share options granted	Exercise price	Vesting/ Exercise (See notes below)	Number of share options as % of present issued share capital
Henrik Wareborn	Annual Award 2020	3,264,503	£0.0786	Note 1	0.31%
Andrew Morris	Annual Award 2020	2,938,053	£0.0786	Note 1	0.28%

Following these notifications:

(i)  Henrik Wareborn is interested in 2,118 ,445 Ordinary Shares and Options over 13,514,503 Ordinary Shares of the Company, together representing 1.47% of the present issued share capital of the Company.

(ii) Andrew Morris is interested in 847,817 Ordinary Shares and Options over 12,563,053 Ordinary Shares of the Company, together representing 1.26% of the present issued share capital of the Company.

The Annual Awards are in addition to grants of share options over 8,385,650 Ordinary Shares (representing 0.79% of the present issued share capital) to Velocys' other key staff in respect of share awards for the 2020 financial year.

The above options are subject to terms for Malus and Clawback and may not in any event be exercised later than the day immediately preceding the tenth anniversary of the date of grant.

Note 1:  The Annual Awards vest as to:

(i)  50% on the third anniversary of the date of grant and

(ii)  50% on the third anniversary of the date of grant subject to the total market capitalisation of the Company being 50% higher on the third anniversary of the date of grant compared with the market capitalisation of the Company at the date of the grant.

- Ends -

For further information, please contact:

Velocys Henrik Wareborn, CEO Andrew Morris, CFO Lak Siriwardene, Head of Communications & Sustainability	[phone]
Panmure Gordon (UK) Limited (Nomad and Joint Broker) Dan Norman (Corporate Broking) Emma Earl (Corporate Finance) John Prior (Corporate Finance)	[phone]
Shore Capital Stockbrokers Limited (Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) Sarah Mather (Corporate Advisory)	[phone]
Radnor Capital (Investor relations) Joshua Cryer Iain Daly	[phone]
Field Consulting (PR) Robert Jeffery	[phone]

Notes to Editors

Velocys is an international UK-based sustainable fuels technology company. Velocys designed, developed and now licenses proprietary Fischer-Tropsch technology for the generation of clean, low carbon, synthetic drop-in aviation and road transport fuel from municipal solid waste and residual woody biomass.

Velocys is at present developing two reference projects: one in Natchez, Mississippi, USA (incorporating Carbon Capture, Utilisation and Storage) and one in Immingham, UK, to produce fuels that significantly reduce both greenhouse gas emissions and key exhaust pollutants for aviation and road transport. Originally a spin-out from Oxford University, in 2008 the company acquired a US company based on complementary reactor technology developed at the Pacific Northwest National Laboratory. Velocys is headquartered in Oxford in the United Kingdom.

www.velocys.com

 

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