TIDMAFC

RNS Number : 3882D

AFC Energy Plc

29 June 2021

29 June 2021

AFC Energy plc

("AFC Energy" or the "Company")

Issue of Equity

Total voting rights

Grant of Options

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that application has been made for 1,500,000 new ordinary shares of 0.1 pence each in the Company ( "Ordinary Shares") to be admitted to trading on AIM pursuant to the exercise of warrants which have an exercise price of 18.5 pence.

The 1,500,000 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 new Ordinary Shares to be admitted to trading which is expected to commence at 8.00 a.m. on 30 June 2021 ("Admission").

Following Admission, the Company's total issued share capital will consist of 734,378,000 Ordinary Shares, none of which are held in treasury. Accordingly, following Admission, the total number of voting rights in the Company will be 734,378,000. This figure may be used by shareholders 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 Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The Company also announces that it has today agreed to grant options over 1,600,000 Ordinary Shares (the "Options"). These options have been granted to participating employees under the rules of the AFC Energy 2018 Employee Share Option Plan (the "Plan").

No director has been granted options.

The purpose of the Plan is to attract, recruit and retain staff and align them with stakeholders' objectives. The Options are exercisable at a price of 64.7 pence per share and will vest between the 28 June 2024 and 17 August 2024 and expire on 28 June 2031.

The information below, sets out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Mike Rendall 
      -------------------------------------  ----------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------------- 
 a)    Position/status                        Chief Engineer and Product Officer 
      -------------------------------------  ----------------------------------------- 
 b)    Initial notification                   Initial Notification 
        /Amendment 
      -------------------------------------  ----------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------------- 
 a)    Name                                   AFC Energy plc 
      -------------------------------------  ----------------------------------------- 
 b)    LEI                                    213800SRJST19GNS9U35 
      -------------------------------------  ----------------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      -------------------------------------------------------------------------------- 
 a)    Description of the                     Ordinary Shares of 0.1p each 
        financial instrument, 
        type of instrument 
 
       Identification code                    GB00B18S7B29 
 
 b)    Nature of the transaction              Grant of options 
      -------------------------------------  ----------------------------------------- 
 c)    Price(s) and volume(s) 
                                               Price(s)             Volume(s) 
  Grant of shares options                  GBP0.647                 500,000 
 --------------------------------------   -----------------------  ----------------- 
 d)    Aggregated information 
 
  - Aggregated volume                      500,000 shares 
 
  - Price                                  GBP0.647 
 
 e)    Date of the transaction                28 June 2021 
      -------------------------------------  ----------------------------------------- 
 f)    Place of the transaction               London Stock Exchange, AIM 
      -------------------------------------  ----------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   David Harvey 
      -------------------------------------  ----------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                        Chief Technology Officer 
      -------------------------------------  ----------------------------------- 
 b)    Initial notification                   Initial Notification 
        /Amendment 
      -------------------------------------  ----------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                                   AFC Energy plc 
      -------------------------------------  ----------------------------------- 
 b)    LEI                                    213800SRJST19GNS9U35 
      -------------------------------------  ----------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      -------------------------------------------------------------------------- 
 a)    Description of the                     Ordinary Shares of 0.1p each 
        financial instrument, 
        type of instrument 
 
       Identification code                    GB00B18S7B29 
 
 b)    Nature of the transaction              Grant of options 
      -------------------------------------  ----------------------------------- 
 c)    Price(s) and volume(s) 
                                               Price(s)          Volume(s) 
  Grant of shares options                  GBP0.647              500,000 
 --------------------------------------   --------------------  -------------- 
 d)    Aggregated information 
 
  - Aggregated volume                      500,000 shares 
 
  - Price                                  GBP0.647 
 
 e)    Date of the transaction                28 June 2021 
      -------------------------------------  ----------------------------------- 
 f)    Place of the transaction               London Stock Exchange, AIM 
      -------------------------------------  ----------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                   Mark Bailey 
      -------------------------------------  ----------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                        Chief Commercial Officer 
      -------------------------------------  ----------------------------------- 
 b)    Initial notification                   Initial Notification 
        /Amendment 
      -------------------------------------  ----------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                                   AFC Energy plc 
      -------------------------------------  ----------------------------------- 
 b)    LEI                                    213800SRJST19GNS9U35 
      -------------------------------------  ----------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      -------------------------------------------------------------------------- 
 a)    Description of the                     Ordinary Shares of 0.1p each 
        financial instrument, 
        type of instrument 
 
       Identification code                    GB00B18S7B29 
 
 b)    Nature of the transaction              Grant of options 
      -------------------------------------  ----------------------------------- 
 c)    Price(s) and volume(s) 
                                               Price(s)          Volume(s) 
  Grant of shares options                  GBP0.647              500,000 
 --------------------------------------   --------------------  -------------- 
 d)    Aggregated information 
 
  - Aggregated volume                      500,000 shares 
 
  - Price                                  GBP0.647 
 
 e)    Date of the transaction                28 June 2021 
      -------------------------------------  ----------------------------------- 
 f)    Place of the transaction               London Stock Exchange, AIM 
      -------------------------------------  ----------------------------------- 
 

-S-

For further information, please contact:

 
  AFC ENERGY AND ADVISORS 
    AFC Energy plc 
     Adam Bond (Chief Executive Officer)             +44 (0) 14 8327 6726 
     Graeme Lewis (Chief Financial Officer)          investors@afcenergy.com 
     Iain Thomson (Head of Communications & 
     Stakeholder Management) 
    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 
                                                   ----------------------------- 
    FTI Consulting - PR Advisors                    +44 (0) 203 727 1000 
     Sara Powell / Ben Brewerton                     afcenergy@fticonsulting.com 
                                                   ----------------------------- 
 

About AFC Energy plc

AFC Energy plc is a leading provider of hydrogen fuel cell power systems to generate clean energy in support of the global energy transition.

Based in the UK, the Company's scalable systems provide off-grid, zero emission power that are already being deployed for rapid electric vehicle charging and the replacement of diesel generators for temporary power applications.

AFC Energy is also working with global partners in the deployment of products for the Maritime, Ports, Data Centres and Rail industries, emphasising the central role of its technology in the decarbonisation of global industry.

Afcenergy.com

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