AFC Energy Plc Block listing application (4140L)
January 12 2021 - 5:23AM
UK Regulatory
TIDMAFC
RNS Number : 4140L
AFC Energy Plc
12 January 2021
12 January 2021
AFC Energy plc
("AFC" or the "Company")
Block listing application
AFC Energy Plc (AIM: AFC), a leading provider of hydrogen power
generation technologies, announces that an application has been
made to the London Stock Exchange for a block listing of securities
in respect of 12,469,169 ordinary shares of 0.1 pence each (the
'New Ordinary Shares') to be admitted to trading on AIM.
The New Ordinary Shares will be issued from time to time in
order to satisfy certain employee share options which may be
exercised. It is expected that admission will become effective on
15 January 2021.
The block listings consist of:
1. 180,000 ordinary shares in respect of options granted in
November 2012, exercisable at 35.75 pence per share;
2. 135,000 ordinary shares in respect of options granted in
December 2013, exercisable at 34 pence per share;
3. 150,000 ordinary shares in respect of options granted in
April 2015, exercisable at 41 pence per share;
4. 6,000,000 ordinary shares in respect of options granted in
July 2015 and modified in December 2020, exercisable at 22 pence
per share;
5. 3,103,335 ordinary shares in respect of the options granted
in October 2018, exercisable at 8.8 pence per share;
6. 1,800,000 ordinary shares in respect of the options granted
in December 2019, exercisable at 16 pence per share; and
7. 1,100,834 ordinary shares in respect of options granted in
April 2020, exercisable at 15.4 pence per share.
For the avoidance of doubt these applications are not
applications to list the share options themselves on any regulated
market but merely an administrative measure to ensure that the
Company does not need to make multiple applications for admission
of ordinary shares to trading on each separate occasion when the
existing employee share options are exercised by holders. The
options remain in uncertificated form and there are no changes to
the terms and conditions of the options.
Following the Block Admission, the Company's issued share
capital will remain unchanged at 676,151,310 ordinary shares. The
Company will make six-monthly announcements of the utilisation of
the Block Admission, in line with its obligations under AIM Rule
29. The Company will also update the market with the total voting
rights at the end of the month in which an option exercise has
occurred.
When issued, the New Ordinary Shares will be credited as fully
paid and will rank pari passu in all respects with the existing
ordinary shares of 0.1 pence each in the capital of the Company
('Ordinary Shares').
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 14 8327 6726
WH Ireland - Nominated Adviser and Joint Broker
M ike Coe (Corporate Finance)
Jasper Berry (Corporate Broking) +44 (0) 117 945 3470
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Zeus Capital Limited - Joint Broker
Daniel Harris (Corporate Finance)
John Goold/Dominic King (Corporate Broking) +44 (0) 203 829 5000
Tuva Partners - Public Relations
Alex Brooks +44 (0) 7900 205 460
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 deployable 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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