AFC Energy Plc Launch of SAYE scheme and Director Dealing (1397Y)

TIDMAFC

RNS Number : 1397Y

AFC Energy Plc

02 September 2022

2 September 2022

AFC Energy plc

("AFC" or the "Company")

Launch of SAYE scheme and Director Dealing

AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce that it has launched the 2022 Save As You Earn Scheme (the "SAYE" Scheme) for all eligible employees.

The SAYE scheme allows eligible employees to commit to making a deduction from salary on a monthly basis over three years. At the end of the three-year period, employees can purchase the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") at a price of 20.48 pence per Ordinary Share, representing a 20 % discount to the closing market price of the Ordinary Shares prior to the scheme being launched on 3 August 2022. The discount is in line with the limits of the SAYE scheme as defined by HMRC.

The following Persons Discharging Managerial Responsibilities ("PDMRs") have chosen to participate in the 2022 SAYE Scheme:

 
    Name      Director/PDMR   Monthly deduction from 
                                        pay 
 Jim Gibson     Director              GBP300 
 
 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction described above.

 
  1     Details of the person discharging managerial responsibilities 
         / person closely associate 
  a)    Name                          Jim Gibson 
      ----------------------------  ------------------------------------------- 
  2     Reason for the notification 
      ------------------------------------------------------------------------- 
  a)    Position/status               Director 
      ----------------------------  ------------------------------------------- 
  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 
  b)    Nature of the transaction     Grant of awards over Shares under the AFC 
                                       Energy Plc Save as You Earn Plan 
      ----------------------------  ------------------------------------------- 
  c)    Price(s) and volume(s)           Price per     Volume 
                                           share 
                                          GBP0.001      52,734 
                                                      -------- 
      ----------------------------  ------------------------------------------- 
  d)    Aggregated Information         n/a single transaction 
 
         Volume 
 
         Price 
      ----------------------------  ------------------------------------------- 
  e)    Date of transaction           1 September 2022 
      ----------------------------  ------------------------------------------- 
  f)    Place of transaction          Outside a trading venue 
      ----------------------------  ------------------------------------------- 
 

For further information, please contact:

 
 AFC Energy plc                                 [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] 
 

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September 02, 2022 07:30 ET (11:30 GMT)