Block listing application

RNS Number : 4140L

AFC Energy Plc

12 January 2021

 

12 January 2021

AFC Energy plc

("AFC" or the "Company")

Block listing application

AFC Energy Plc (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that an application has been made to the London Stock Exchange for a block listing of securities in respect of 12,469,169 ordinary shares of 0.1 pence each (the 'New Ordinary Shares') to be admitted to trading on AIM.

The New Ordinary Shares will be issued from time to time in order to satisfy certain employee share options which may be exercised. It is expected that admission will become effective on 15 January 2021.

The block listings consist of:

1.  180,000 ordinary shares in respect of options granted in November 2012,  exercisable at 35.75 pence per share;

2.  135,000 ordinary shares in respect of options granted in December 2013, exercisable at 34 pence per share;

3.  150,000 ordinary shares in respect of options granted in April 2015, exercisable at 41 pence per share;

4.  6,000,000 ordinary shares in respect of options granted in July 2015 and modified in December 2020, exercisable at 22 pence per share;

5.  3,103,335 ordinary shares in respect of the options granted in October 2018, exercisable at 8.8 pence per share;

6.  1,800,000 ordinary shares in respect of the options granted in December 2019, exercisable at 16 pence per share; and

7.  1,100,834 ordinary shares in respect of options granted in April 2020, exercisable at 15.4 pence per share.

For the avoidance of doubt these applications are not applications to list the share options themselves on any regulated market but merely an administrative measure to ensure that the Company does not need to make multiple applications for admission of ordinary shares to trading on each separate occasion when the existing employee share options are exercised by holders. The  options remain in uncertificated form and there are no changes to the terms and conditions of the options.

Following the Block Admission, the Company's issued share capital will remain unchanged at 676,151,310 ordinary shares. The Company will make six-monthly announcements of the utilisation of the Block Admission, in line with its obligations under AIM Rule 29. The Company will also update the market with the total voting rights at the end of the month in which an option exercise has occurred.

When issued, the New Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 0.1 pence each in the capital of the Company ('Ordinary Shares').

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	[phone]
WH Ireland  - Nominated Adviser and Joint Broker M ike Coe  (Corporate Finance) Jasper Berry (Corporate Broking)	[phone]
M C Peat & Co LLP  - Joint Broker Charlie Peat	[phone]
Zeus Capital Limited - Joint Broker Daniel Harris (Corporate Finance) John Goold/Dominic King (Corporate Broking)	[phone]
Tuva Partners - Public Relations Alex Brooks	[phone]

About AFC Energy

AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past twelve years in the UK, is now deployable in electric vehicle chargers, off-grid decentralised power systems and industrial gas plants as part of a portfolio approach to the decarbonisation of local electricity needs.

 

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