AFC Energy Plc Issue of Equity and Director Dealing (1920O)

TIDMAFC

RNS Number : 1920O

AFC Energy Plc

17 August 2017

17 August 2017

AFC Energy PLC

("AFC Energy" or the "Company")

Issue of Equity and Director Dealing

AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that application has been made for the issue of 350,000 ordinary shares of 0.1 pence each ("Ordinary Shares") to Mitchell Field, Non-Executive Director of the Company.

The Ordinary Shares are being issued pursuant to an exercise of warrants under the AFC Deed of Warrant 2009 at an exercise price of 3.13 pence per share.

Following the issue of Ordinary Shares, Mitchell Field will hold an increased interest of 3,311,132 Ordinary Shares, representing approximately 0.85% of the issued share capital of the Company.

The 350,000 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 Ordinary Shares to be admitted to trading which is expected to commence at 8.00 a.m. on 22 August 2017 ("Admission").

Following Admission, the total issued share capital of the Company consists of 391,298,205 Ordinary Shares, none of which are held in treasury. Accordingly, following Admission, the total number of voting rights in the Company will be 391,298,205. This figure may be used by shareholders as the denominator by which they can 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.

For further information, please contact:

 
AFC Energy plc 
 Adam Bond (Chief Executive Officer)                              [phone] 
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker 
 Andrew Craig 
 Richard Salmond                                                  [phone] 
M C Peat & Co LLP - Joint Broker 
 Charlie Peat                                                     [phone] 
 
Lionsgate Communications - Public Relations 
 Jonathan Charles                                                 [phone] 
 

About AFC Energy

AFC Energy plc has developed and successfully demonstrated an alkaline fuel cell system, which converts hydrogen into "clean" electricity. AFC Energy's key project POWER-UP demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany. The Company is now looking to build upon an already established pipeline of commercial opportunities and drive the findings from the development phase of the technology into a technically optimised and commercially relevant fuel cell system. For further information, please visit our website: www.afcenergy.com

Appendix - PDMR Dealing Disclosure:

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ----------------------------------------------------------------- 
 a)   Name                             Mitchell Field 
---  -------------------------------  -------------------------------- 
 2.   Reason for the Notification 
---  ----------------------------------------------------------------- 
 a)   Position/status                  Non-Executive Director 
---  -------------------------------  -------------------------------- 
 b)   Initial notification/Amendment   Initial Notification 
---  -------------------------------  -------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ----------------------------------------------------------------- 
 a)   Name                             AFC Energy plc 
---  -------------------------------  -------------------------------- 
 b)   LEI                              N/A 
---  -------------------------------  -------------------------------- 
 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                      Ordinary Shares of 0.1 pence 
       of the Financial                 each 
       instrument, 
       type of instrument 
--- 
      Identification                   GB00B18S7B29 
       code 
---  -------------------------------  -------------------------------- 
 b)   Nature of                        Exercise of Options 
       the transaction 
---  -------------------------------  -------------------------------- 
 c)   Price(s) and                      Price(s)     Volume(s) 
       volume(s)                        -----------  ----------------- 
                                         3.13 pence   350,000 (bought) 
                                        -----------  ----------------- 
---  -------------------------------  -------------------------------- 
 d)   Aggregated                       350,000 ordinary shares of 
       information:                     0.1 pence each bought at 3.13 
        *    Aggregated volume          pence each 
 
 
        *    Price 
---  -------------------------------  -------------------------------- 
 e)   Date of the                      16 August 2017 
       transaction 
---  -------------------------------  -------------------------------- 
 f)   Place of the                     London Stock Exchange, AIM 
       transaction                      Market (XLON) 
---  -------------------------------  -------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 17, 2017 02:01 ET (06:01 GMT)