Grant of Options/ PDMR Dealing

RNS Number : 8616Y

AFC Energy Plc

06 January 2020

 

6 January 2020

AFC Energy plc

("AFC Energy" or "the Company")

Grant of Options

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that the Remuneration Committee proposed the grant on December 31, 2019 and the Board ratified on January 6, 2020 the grant of  options over 2,750,000 ordinary  shares of 0.1 pence each to Graeme Lewis, Company Secretary.

The options are exercisable at a price of 16 pence, the market price on December 31, 2019, and will vest

·      900,000 on December 31, 2020,

·      900,000 on December 31, 2021, and

·      950,000 on December 31, 2022.

The options will be exercisable between the vesting date and the tenth anniversary of the date of grant but are otherwise unconditional.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Graeme Lewis
2	Reason for the notification
a)	Position/status	Finance director and Company Secretary
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 0.1p each
	Identification code	GB00B18S7B29
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
	Grant of shares options		£0.16	2,750,000
d)	Aggregated information
	- Aggregated volume		2,750,000 shares
	- Price		£0.16
e)	Date of the transaction	6 January 2019
f)	Place of the transaction	London Stock Exchange, AIM

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	[phone]
WH Ireland - Nominated Adviser and Joint Broker Mike Coe/ Chris Savidge - Corporate Finance Jasper Berry - Corporate Broking	[phone]
M C Peat & Co LLP - Joint Broker Charlie Peat	[phone]
Tuva Partners - Public Relations James Kennedy	[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 being deployed 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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