Grant of Share Options

RNS Number : 5074U

AFC Energy Plc

03 December 2013

 

3 December 2013

AFC Energy plc

 ("AFC Energy" or the "Company")

Grant of Share Options

AFC Energy announces that on 2 December 2013 the board of AFC Energy granted options over a total of 1,375,000 new ordinary shares of 0.1p each in the Company ("Ordinary Shares") (the "Options").

The Options have been granted to certain employees and directors of the Board under the rules of the AFC Energy Plc Enterprise Management Incentive Share Option Scheme. The purpose of the Options is to recognise individuals' performance and to provide further incentivisation.

The Options are exercisable at a price of 34 pence per Ordinary Share, being the closing price on 29 November 2013, and are exercisable between 2 and 10 years following the date of issue. The exercise of the Options is not conditional.

Yesterday's grants include the following Options granted to directors of the Company:

Name	Title	No. of new options granted	Total no. of options held over ordinary shares	Total no. of warrants held over ordinary shares
Ian Williamson	Chief Executive Officer	200,000	1,200,000	-
Gene Lewis	Technical Director	100,000	100,000	1,954,000

Following the issue of the Options there are 8,405,000 options over Ordinary Shares in issue, representing approximately 3.76 per cent of the current issued share capital of the Company, and 7,047,800 warrants over Ordinary Shares in issue, representing approximately 3.16 per cent of the current issued share capital of the Company.

Ends

For further information, please contact:

AFC Energy plc Ian Williamson, Chief Executive Jane Dumeresque, Finance Director	[phone]
Luther Pendragon - Public Relations Adviser Neil Thapar Alexis Gore James Foster	[phone]
Peat & Co. - Corporate Broker Charlie Peat	[phone]
Allenby Capital -  AIM Nominated Adviser Jeremy Porter James Reeve	[phone]

About AFC Energy

Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using platinum free, advanced materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com.

 

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