Proton Power Systems PLC Issue of equity and director shareholding (1277Y)

TIDMPPS

RNS Number : 1277Y

Proton Power Systems PLC

01 March 2017

Proton Power Systems plc

("Proton" or the "Company")

Issue of equity and director shareholding

Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that it has issued 821,732 ordinary shares of 1 pence each in the Company (the "New Ordinary Shares") to Helmut Gierse, the Company's Non-Executive Director, in lieu of fees.

An application has been made for the New Ordinary Shares to be admitted to trading on AIM which is expected to take effect on or around 6 March 2017 ("Admission").

Following Admission, the Company's issued share capital will comprise 644,092,109 ordinary shares of 1 Pence each in the Company ("Ordinary Shares"). The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

As a result of this transaction Helmut Gierse holds 2,906,616 Ordinary Shares representing 0.45 per cent. of the Company's issued share capital and options over 6,050,000 Ordinary Shares.

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For further information:

 
 Proton Power Systems plc 
 Dr Faiz Nahab, CEO 
 Ian Peden, Chairman                  Tel: +49 (0) 162 
                                              101 6470 
                            www.protonpowersystems.com 
 
 
 Stockdale Securities Limited 
  Nominated adviser and broker               Tel: +44 (0) 20 
                                                   7601 6100 
 Antonio Bossi / David Coaten    www.stockdalesecurities.com 
 
 

About Proton Motor Fuel Cells GmbH ("Proton Motor")

Proton Motor is an expert in industrial fuel cells, fuel cell and hybrid systems with more than 21 years of experience in this sector. Based in Puchheim near Munich, Proton Motor offers complete fuel cell and hybrid systems from a single source - from the development and production through the implementation of customized solutions. The focus of Proton Motor is on mobile, marine and stationary solutions and applications. The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customized systems.

Proton Motor acquired and integrated SPower GmbH in 2013. Established in 2007, SPower serves IT, Telecoms, public infrastructure and healthcare customers in Germany, Europe and Middle East with power supply solutions for DC and AC power demand. In addition to power supply, SPower also offers solutions for Solar Systems as well as a new product line for Solar Energy Storage. With the SPower expertise, Proton Motor can offer complete power supply solutions with fuel cell and all electrical components.

Proton Motor is a wholly owned subsidiary of Proton Power Systems plc which has been listed on the London Stock Exchange since October 2006 (code: PPS).

This information is provided by RNS

The company news service from the London Stock Exchange

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March 01, 2017 02:00 ET (07:00 GMT)