Acta S.p.A. Director/PDMR Shareholding: Options Grant (2885I)
May 29 2014 - 1:01AM
UK Regulatory
TIDMACTA
RNS Number : 2885I
Acta S.p.A.
29 May 2014
Press release 29 May 2014
Acta S.p.A.
("Acta" or "the Company")
Director/PDMR Shareholding: Options Grant
Acta S.p.A (AIM:ACTA), the clean energy products company,
announces that following the recommendation of the Remuneration
Committee on 28 May 2014, the Board approved the following grants
of options over the Ordinary Shares of the Company to the following
Directors pursuant to the 2014 Share Option Scheme (the "Options"),
as set out below. The grant of the Options is conditional upon
approval by the shareholders at the Annual General Meeting, which
has been convened for 26, 27 and 30 June 2014 and is expected to be
held at the third calling, as is customary in Italy, on 30 June
2014.
The table below states the number of Options granted to the
Directors under the 2014 Option Scheme, together with the total
number of options available to each Director following the grant of
the Options.
Total options
Number of Options held following
Name Title granted grant
Paolo Bert Chief Executive Officer 1,528,873 4,250,252
Paul Barritt Chief Financial Officer 912,547 2,513,540
Robert Drummond Non-Executive Chairman 291,442 811,807
Aldo Filippini Non-Executive Director 171,998 353,294
Rodney Westhead Non-Executive Director 143,332 294,412
Details of the 2014 Share Option Scheme are as follows:
The exercise price of the Options is 12.0p per share,
representing a premium of 100% over the closing mid-market price of
6.0p on 23 May 2014, being the last day of trading prior to the
publication of the AGM notice. The Options will vest two years
after the date of their approval at the Shareholders' Meeting, and
may be exercised within four years of vesting.
Other conditions of vesting, exercise and expiry of the Options
are as determined by the Share Option Scheme Rules approved by the
shareholders on 5 September 2007.
-Ends-
For further information please contact:
Acta S.p.A. Tel: +39 050 644281
Paolo Bert, Chief Executive Officer www.actaspa.com
Paul Barritt, Chief Financial Officer
Altium Capital (Nominated Advisor) Tel: +44 (0)845 505 4343
Adrian Reed / Dom Orsini
Cantor Fitzgerald Europe (Broker) Tel: +44 (0)20 7894 7000
Mark Percy / David Banks / Paul
Jewell
Media enquiries:
Walbrook PR Tel: +44 (0)20 7933 8780
Paul Cornelius / Bob Huxford acta@walbrookpr.com
About ActaS.p.A.
ActaS.p.A. is a developer and manufacturer of a range of clean
energy products. Based on its world-leading expertise in alkaline
membrane technology, the Company has developed a unique range of
low-cost, compact hydrogen generators (electrolysers) which produce
pure, dry compressed hydrogen at high efficiency from renewable or
grid power.
In April 2013 Acta launched the Acta Power, an integrated
electrolyser and fuel cell system for use in back-up power and
renewable energy storage applications. Best understood as a
"Hydrogen Battery", the system converts energy from renewable or
grid power when it is available and stores it in the form of
hydrogen, and then converts the hydrogen back to electrical power
when needed due to grid black-out or lack of solar / wind
power.
This system has extensive application as a back-up power unit
for telecommunications base stations, where it competes on cost
against traditional battery and diesel solutions, while offering a
cleaner solution and better service. In particular, the use of
rainwater and the generation of hydrogen on-site removes the cost
and logistical barriers of fuel delivery, while also avoiding the
theft risk associated with diesel, methanol and battery
systems.
The supply of fuel cell back-up power systems for
telecommunications base stations represents a large and
fast-growing market, especially in extensively bad-grid and
off-grid locations such as in Asia and Africa. Battery sales to the
Chinese telecoms industry are currently valued at $4.7 bn to $7.8
bn per annum (Fuel Cell Today, China).
Acta holds a portfolio of patents and patent applications on its
key technologies, manufactures its products through a combination
of production, component subcontracting, and final product assembly
and quality control, and has established distribution channels
through partnerships in China, India, SE Asia, Australia, Africa,
Middle East, Germany, UK, USA and South America.
Acta S.p.A. is based near Pisa, Italy, and was admitted to
trading on AIM in October 2005.
www.actaspa.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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