Active Energy Group PLC Grant of Options (8937E)

TIDMAEG

RNS Number : 8937E

Active Energy Group PLC

14 February 2018

14 February 2018

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

Active Energy Group Plc ('Active Energy', 'AEG' or 'the 'Group')

Grant of Options

Active Energy, the London quoted international biomass based renewable energy and forestry management business, announces the approval of the grant of options over a total of 50,500,000 ordinary shares of 1p each in the Group ("Ordinary Shares") to certain of its Directors, and consultants representing 3.39% of AEG's Ordinary Shares and total voting rights on a fully diluted basis (the "Options"). The Group is granting the Options in recognition of the recent achievement of certain key milestones including the official opening of AEG's first commercial CoalSwitch(TM) plant in Utah, USA.

The Options are being granted in two tranches with different exercise prices and vesting periods. 25,250,000 Options will have an exercise price of 4.5p which represents the 52 week high for AEG's share price prior to 13 February 2018 (the "Tranche 1 Options"). The Tranche 1 Options will vest subject to certain conditions after 12 months and are exercisable between 1 and 10 years from the date of grant.

A further 25,250,000 Options will have an exercise price of 8.5p which represents an 89% premium to AEG's 52 week high share price, prior to 13 February 2018 (the "Tranche 2 Options"). The Tranche 2 Options will vest subject to certain conditions after 24 months and are exercisable between 2 and 10 years from the date of grant.

Options granted to Directors and PDMRs

As summarised in the tables below, AEG has granted 43,000,000 of the Options to the Company's Directors and a PDMR pursuant to the Company's existing unapproved share option scheme (the "Scheme").

 
 Director/PDMR              Options Granted 
-------------------------  ------------------------------ 
 Richard Spinks - CEO       Tranche 1 Options: 12,500,000 
-------------------------  ------------------------------ 
                            Tranche 2 Options: 12,500,000 
-------------------------  ------------------------------ 
 Michael Rowan - Chairman   Tranche 1 Options: 8,000,000 
-------------------------  ------------------------------ 
                            Tranche 2 Options: 8,000,000 
-------------------------  ------------------------------ 
 Michael Bolwell - Group    Tranche 1 Options: 1,000,000 
  Financial Controller 
-------------------------  ------------------------------ 
                            Tranche 2 Options: 1,000,000 
-------------------------  ------------------------------ 
 

Messrs Spinks, Rowan and Bolwell currently have the following interests in issued Ordinary Shares:

 
 Director/PDMR      Number of Ordinary   % of issued share 
                     Shares               capital at 13 
                                          February 2018 
-----------------  -------------------  ------------------ 
 Richard Spinks     41,733,333           4.39% 
-----------------  -------------------  ------------------ 
 Michael Rowan      3,221,250            0.34% 
-----------------  -------------------  ------------------ 
 Michael Bolwell    Nil                  Nil 
-----------------  -------------------  ------------------ 
 

In addition, following the grant of the Options referred to above, Messrs Spinks, Rowan and Bolwell will have the following interests in share options in the AEG:

 
 Director/PDMR     Number of     Exercise Price   Expiry Date 
                    options 
----------------  ------------  ---------------  ------------- 
 Richard Spinks    12,500,000    4.5p             12 February 
                                                   2028 
                    12,500,000    8.5p             12 February 
                                                    2028 
----------------  ------------  ---------------  ------------- 
 Michael Rowan     4,500,000     6p               18 October 
                                                   2025 
                    8,000,000     4.5p             12 February 
                                                    2028 
                    8,000,000     8.5p             12 February 
                                                    2028 
----------------  ------------  ---------------  ------------- 
 Michael Bolwell   1,000,000     5p               8 November 
                                                   2025 
                    1,000,000     4.5p             12 February 
                                                    2028 
                    1,000,000     8.5p             12 February 
                                                    2028 
----------------  ------------  ---------------  ------------- 
 

Total Share Options and Warrants

The total options outstanding that have previously been granted to other employees and consultants pursuant to the Scheme is 34,950,000. Following the grant of the Options, there are now 177,825,099 outstanding options and warrants over AEG's Ordinary Shares, representing 11.95% of the Group's Ordinary Shares and total voting rights on a fully diluted basis.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

Enquiries & Further Information:

 
 Website                 LinkedIn 
----------------------  -------------------------------------- 
 www.active-energy.com   www.linkedin.com/company/activeenergy 
  www.aeg-plc.com 
----------------------  -------------------------------------- 
 
 
 Enquiries 
---------------------------------------------------------------------------- 
 Active Energy        Michael Rowan                 [e-mail] 
  Group Plc            Executive Chairman 
-------------------  -------------------------  ---------------------------- 
                      Richard Spinks               [e-mail] 
                       Chief Executive Officer 
-------------------  -------------------------  ---------------------------- 
 Northland Capital    David Hignell/Gerry                  Office: +44 (0)20 
  Partners Limited     Beaney                                      3861 6625 
  Nominated Adviser 
-------------------  -------------------------  ---------------------------- 
 Optiva Securities    Graeme Dickson/Ed                    Office: +44 (0)20 
  Ltd Broker           McDermott                                   3137 1902 
-------------------  -------------------------  ---------------------------- 
 St Brides Partners   Susie Geliher              [e-mail] 
  Financial PR                                               Office: +44 (0) 
  Adviser                                                       20 7236 1177 
-------------------  -------------------------  ---------------------------- 
 

About Active Energy Group:

Active Energy Group Plc (AIM: AEG.L) is a London Stock Exchange-listed international renewable energy business based upon forestry assets. Its model is focussed on capturing the entire forestry value chain through sourcing, utilising and commercialising assets, and setting a new standard in the sustainable management and optimisation of timber resources. The Company is led by a highly technical and commercial team with the experience to execute its defined growth strategy and build its visibility, primarily as a London-listed timber opportunity with a revolutionary biomass fuel technology.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 14, 2018 07:30 ET (12:30 GMT)