Grant of options and shares and director dealing

RNS Number : 0841N

Proton Power Systems PLC

13 May 2015

 

13 May 2015

Proton Power Systems plc

("Proton Power" or the "Company")

Grant of options and shares and director dealing

Proton Power (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that, on 12 May 2015, it granted options over 2 million ordinary shares in the capital of the Company ("Ordinary Shares"), at an exercise price of 4.375 pence per share, and 478,571 Ordinary Shares in lieu of fees (the "New Ordinary Shares") to Ian Peden, Chairman of the Company. Following this grant, Ian Peden's interest in the share capital of the Company is represented by the New Ordinary Shares and options over 2.25 million Ordinary Shares.

The options vest immediately, and lapse after 10 years, from the date of grant and are only exercisable in the event an offer or a change of control is accepted by the Company in accordance with the option scheme rules.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM which is expected to become effective on or around 20 May 2015 ("Admission").

Following Admission the Company's issued share capital will comprise 642,521,872 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

For further information:

Proton Power Systems plc
Dr Faiz Nahab, CEO
Achim Loecher, FD	Tel: [phone]
	www.protonpowersystems.com

Westhouse Securities Limited Nominated adviser and broker	Tel: [phone]
Antonio Bossi / David Coaten	www.westhousesecurities.com

About Proton Motor Fuel Cell GmbH

Based in Puchheim near Munich, Proton Motor offers complete fuel cell and hybrid systems from a single source - from the development and production through to the implementation of customized solutions.  The focus of Proton Motor is on back-to-base mobile, marine and stationary solutions applications.  The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customised systems.

Proton Motor acquired SPower GmbH in 2013. Established in 2007, SPower serves IT, telecoms, public infrastructure and healthcare customers in Germany, Europe and the Middle East with power supply solutions for DC and AC power demand. In addition to power supply, SPower also offers solutions for solar systems as well as a new product line for solar energy storage.

Proton Motor Fuel Cells GmbH is a wholly owned subsidiary of Proton Power Systems plc.  The Company has been listed on the London Stock Exchange since October 2006 (code: PPS).

 

END

 

 

MSCGGUPGAUPAGWW