RedT Energy PLC Lapse & Grant of Options (0669J)
November 30 2018 - 4:51AM
UK Regulatory
TIDMRED
RNS Number : 0669J
RedT Energy PLC
30 November 2018
This announcement contains inside information
30 November 2018
redT energy plc
("redT" or the "Company")
Lapse & Subsequent Grant of Share Options
redT energy plc (AIM:RED), the energy storage solutions company,
announces that, following the lapse of 14,779,012 options since the
grants made in May 2018, the Board has granted 12,897,222 share
options (the "Options") to subscribe for ordinary shares of EUR0.01
in the Company (the "Ordinary Shares") to staff who have recently
joined the company.
The Options will be awarded under the redT energy 2018 Employee
Share Option Plan ("Employee Share Option Plan"), which includes a
CSOP, EMI and Unapproved part, and the redT energy 2018 Consultant
Share Option Plan ("Consultant Share Option Plan"), together "the
Plans", which were adopted by the Board on 14 May 2018.
Options over a total of 12,897,222 Ordinary Shares will be
granted under the Plans: 6,436,113 under the CSOP part with an
exercise price of 5.95 pence per Ordinary Share (being the Market
Value), 3,130,000 under the EMI part with an exercise price of 7
pence, 1,831,109 under the Unapproved part with an exercise price
of 7 pence, and 1,500,000 under the Consultant Share Option Plan
with an exercise price of 7 pence (7 pence being the price at which
the company completed the placing as announced on 3 October 2018).
The Options will vest between two and five years from the date of
grant and are exercisable for a period of three years from the date
at which they first vest.
As part of the grant, 2,000,000 Options over Ordinary shares,
630,000 under the EMI part and 1,370,000 under the Unapproved part,
will be granted to Fraser Welham as a Director of the Company.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Fraser Welham
2. Reason for the Notification
a) Position/status Chief Financial Officer of the Company
b) Initial notification/amendment Initial notification
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name redT energy plc
b) LEI 213800N2NKOTYUNRCU14
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 Financial Options over ordinary shares of EUR0.01 each ("Ordinary Shares")
instrument, type of instrument
Identification code GB00B11FB960
b) Nature of the Transaction Award of EMI options in respect of 630,000 Ordinary Shares at an exercise
price of 7 pence
per Ordinary Share. Award of Unapproved Options in respect of 1,370,000 at
exercise price
of 7 pence per Ordinary Share
c) Price(s) and volume(s) Price Volume
0.07 2,000,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 29 November 2018
f) Place of the transaction London Stock Exchange, AIM (LON:RED)
NOTIFICATION AND PUBLIC DISCLOSURE IN ACCORDANCE WITH THE
REQUIREMENTS OF THE EU MARKET ABUSE REGULATION OF TRANSACTIONS BY
PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM.
Enquiries:
redT energy plc +44 (0)20 7121 6111
Scott McGregor, Chief Executive Officer
Fraser Welham, Chief Financial Officer
Joe Worthington, Investor & Media
Relations
Investec Bank plc (Nominated Adviser
and Broker) +44 (0)20 7597 5970
Jeremy Ellis / Chris Sim / Alexander
Ruffman
VSA Capital (Joint Broker)
Andrew Monk / Andrew Raca +44 (0)20 3005 5000
Celicourt Communications (Financial
PR)
Mark Antelme
Jimmy Lea
Ollie Mills +44 (0)20 7520 9266
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in
the design, manufacture, installation and operation of energy
storage infrastructure which creates revenue alongside reliable,
low-cost renewable generation for businesses, industry and
electricity distribution networks. Using patented vanadium redox
flow technology to store energy in liquid, redT's own energy
storage machines can be run continually with no degradation:
charging and discharging for over 25 years, matching the lifespan
of renewable assets in on-grid, off-grid and weak-grid
settings.
redT's energy storage solutions, developed over the past 15
years, address today's changing energy market by providing a
flexible platform for time shifting surplus renewable power,
securing electricity supplies and earning revenue through grid
services. The company has customers in the UK, Europe, sub-Saharan
Africa, Australia and Asia Pacific. redT energy plc is listed on
the London Stock Exchange (AIM:RED) and has experts located in the
UK, Europe, Australia, Africa, Asia and the USA. For more
information, visit www.redTenergy.com
For sales, press or investor enquiries, please contact the redT
team on +44 (0)207 061 6233.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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