AFC Energy Plc Exercise of Share Options and Total Voting Right (5243T)

TIDMAFC

RNS Number : 5243T

AFC Energy Plc

25 July 2022

25 July 2022

AFC Energy Plc

("AFC Energy" or the "Company")

Exercise of Share Options and Total Voting Right

AFC Energy (AIM: AFC) (the "Company") , announces the following share transaction carried out by a Director and person discharging managerial responsibilities (PDMRs) on 21 July 2022.

Adam Bond (Chief Executive Officer) was previously granted 2,250,000 nil cost options under a transitional award of the Performance Share Plan. At 30 March 2022, 583,169 ordinary shares were deemed to have vested, all of which are now being exercised and shall be retained, with all costs and income taxes arising from the transaction being borne by the beneficiary.

541,831 options under the 2022 transitional award performance test have lapsed.

An application has been made for 583,169 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari passu with the Company's existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on 28 July 2022.

 
                    Options     Shares   Weighted    Sale price       Options          Current 
                    exercised    sold     average                    remaining       shareholding 
                                          exercise                 after exercise 
                                           price 
 2022 PSP 
  transitional 
  award vesting     583,169       0          0          n/a          1,125,000         583,169 
                  -----------  -------  ----------  -----------  ----------------  -------------- 
 

As at 25 July 2022, the Company's issued share capital comprised of 735,237,837 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares and voting rights in the Company is therefore 735,237,837.

This figure may be used by shareholders in the Company as the denominator for the calculations by which the will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

For further information, please contact:

 
 AFC Energy plc 
  Gerry Agnew (Chairman Remuneration Committee)      [phone] 
  Ben Bradshaw (Head of Marketing)                   [e-mail] 
 Peel Hunt LLP - Nominated Adviser and 
  Joint Broker 
  Richard Crichton / Tom Ballard / Alexander 
  Allen                                              [phone] 
 M C Peat & Co LLP - Joint Broker 
  Charlie Peat                                       [phone] 
 Zeus - Joint Broker 
  Daniel Harris/ James Hornigold (Investment 
  Banking) 
  Dominic King (Corporate Broking) / Rupert 
  Woolfenden (Sales)                                 [phone] 
 FTI Consulting - Financial PR Advisors            [phone] 
  Ben Brewerton / Nick Hennis / Dhruv Soni          [e-mail] 
 

Notification of Dealing Form:

 
  1     Details of the person discharging managerial responsibilities 
         / person closely associate 
  a)    Name                          Adam Bond 
      ----------------------------  ------------------------------------------ 
  2     Reason for the notification 
      ------------------------------------------------------------------------ 
  a)    Position/status               CEO 
      ----------------------------  ------------------------------------------ 
  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                Ordinary Shares of 0.1 pence each in the 
         the financial instrument,     Company ("Shares") 
         type of instrument 
        Identification                ISIN: GB00B18S7B29 
         code 
 
  b)    Nature of the transaction     Exercise of nil cost share options under 
                                       the Performance Share Plan. 
      ----------------------------  ------------------------------------------ 
  c)    Price(s) and volume(s)           Price per     Volume 
                                           share 
                                          GBP0.001      583,169 
                                                      --------- 
      ----------------------------  ------------------------------------------ 
  d)    Aggregated Information         n/a single transaction 
 
         Volume 
                                        583,170 
         Exercise price 
      ----------------------------  ------------------------------------------ 
  e)    Date of transaction           21 July 2022 
      ----------------------------  ------------------------------------------ 
  f)    Place of transaction          London Stock Exchange 
      ----------------------------  ------------------------------------------ 
 

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July 25, 2022 02:00 ET (06:00 GMT)