Issue of Equity and Director / PDMR Shareholding

RNS Number : 6551U

AFC Energy Plc

20 January 2017

 

20 January 2017

AFC Energy PLC

("AFC Energy" or the "Company")

Issue of Equity and Director Dealing

AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that application has been made for the issue of 250,000 ordinary shares of 0.1 pence each ("Ordinary Shares") to Adam Bond, Chief Executive Officer of the Company at par value.

The issue of Ordinary Shares is made pursuant to arrangements detailed in the announcement of Adam Bond's contract renewal on 17 July 2015 under which it was agreed 1,000,000 Ordinary Shares would be issued to Adam Bond in four equal tranches. This issue is the final tranche which became due on 31 December 2016.

Following the issue of Ordinary Shares, Adam Bond will be interested in 3,000,000 Ordinary Shares, representing approximately 0.97% of the issued share capital of the Company.

The 250,000 new Ordinary Shares will rank pari passu with the Company's existing ordinary share capital and application has been made to the London Stock Exchange for the Ordinary Shares to be admitted to trading which is expected to commence at 8.00 a.m. on 25 January 2017 ("Admission").

Following Admission, the total issued share capital of the Company consists of 310,263,943 Ordinary Shares, none of which are held in treasury. Accordingly, following Admission, the total number of voting rights in the Company will be 310,263,943. This figure may be used by shareholders as the denominator by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	[phone]
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker Andrew Craig Richard Salmond	[phone]
M C Peat & Co LLP - Joint Broker Charlie Peat	[phone]
Lionsgate Communications - Public Relations Jonathan Charles	[phone]

About AFC Energy

AFC Energy plc has developed and successfully demonstrated an alkaline fuel cell system ("KORE"), which converts hydrogen into "clean" electricity. AFC Energy's key project POWER-UP demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany, in January 2016.  The Company is now looking to build upon an already established pipeline of commercial opportunities and drive the findings from the development phase of the technology into a technically optimised and commercially relevant fuel cell system.  For further information, please visit our website: www.afcenergy.com

 

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