Gelion PLC CEO Board Appointment and Grant of Options (3002J)

TIDMGELN

RNS Number : 3002J

Gelion PLC

12 December 2022

12 December 2022

Gelion plc

("Gelion" or the "Company")

CEO Board Appointment and Grant of Options

Further to the appointment of John Wood as CEO with effect from 21 November 2022, Gelion (AIM: GELN), the Anglo-Australian battery storage innovator, is pleased to announce his appointment to the Board with immediate effect, following the Company's AGM held on 9 December 2022 and completion of the required regulatory due diligence.

Grant of Options

In conjunction with Mr Wood's appointment to the Board, Mr Wood has been granted 2,704,000 options ("Options") to subscribe for new ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares"), in accordance with the terms of the Company's new Share Option Plan. The Options have an exercise price of 0.1 pence and will vest in three tranches as set out below, provided that on each vesting date Mr Wood is in continuous employment with Gelion. The Options expire, to the extent that they have not been exercised, on 12 December 2027.

   -      1,622,400 Options will vest 12 months from the date of grant 
   -      540,800 Options will vest 24 months from the date of grant 
   -      540,800 Options will vest 36 months from the date of grant 

All Options are subject to both malus and clawback provisions and good and bad leaver provisions. All unvested options will vest in certain corporate events such as a takeover of the company or a change of control. In these circumstances the Options would normally vest and become exercisable in full unless the Board decides that the Options will be pro-rated to take account of the date the corporate event took place during the normal vesting period.

Subsequent to this issue of Options, the Company has approximately 8.68 million Options in issue, representing 8.0 % of the Company's issued share capital.

Dr Steve Mahon, Chairman of Gelion, said: "I am delighted to welcome John to the Board. In the few short weeks since he joined as CEO, his wealth of commercial, battery and manufacturing experience is already coming to the fore. We look forward to the future under his leadership with a clear ambition to take Gelion to the next level of growth to deliver shareholder value."

CONTACTS

 
 Gelion plc                                         via Alma PR 
  Steve Mahon, Chairman 
  Amit Gupta, CFO 
  Thomas Maschmeyer, Founder and Principal 
  Technology Advisor 
 finnCap Ltd (Nominated Adviser and Sole Broker)    [phone] 
 Corporate Finance 
  Christopher Raggett 
  Seamus Fricker 
  Fergus Sullivan 
  ECM 
  Barney Hayward 
 Alma PR (Financial PR Adviser)                     [phone] 
  Justine James                                      [e-mail] 
  Josh Royston 
  Hannah Campbell 
  Will Ellis Hancock 
 
 

Regulatory disclosures

The following information regarding John William Wood, aged 59, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

 
 Current directorships and/or      Former directorships and/or 
  partnerships:                     partnerships (within the last 
                                    five years): 
 Gelion Technologies Pty Limited   Smart Storage PTY Ltd 
  On The Jetty PTY Ltd              Ecoult Holding Co. 
  Out of the Woods Super PTY Ltd 
 

As at 12 December 2022, John Wood beneficially holds 24,000 Ordinary Shares, representing 0.02% of the Company's issued share capital. In addition, he holds Options over 2,704,000 Ordinary Shares.

There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.

The Notification of Dealing Form set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.

 
      Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   John Wood 
     --------------------------------------  ------------------------------- 
 1.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Chief Executive Officer 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/Amendment:         Initial notification 
     --------------------------------------  ------------------------------- 
 2.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name:                                   Gelion plc 
     --------------------------------------  ------------------------------- 
 b)   LEI:                                    2138008NC7YL3MCUDR84 
     --------------------------------------  ------------------------------- 
 3.   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 the financial            Options over Ordinary 
       instrument, type of instrument:         Shares of 0.1p each 
       Identification code: 
 
 
 
                                               GB00BNBQZD59 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Grant of Options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                  Price(s)   Volume(s) 
                                                0.1p       2,704,000 
                                                          ---------- 
     --------------------------------------  ------------------------------- 
 d)   Aggregated information:                 N/A 
        *    Aggregated volume: 
 
 
        *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                12 December 2022 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               Outside of a trading venue 
     --------------------------------------  ------------------------------- 
 

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December 12, 2022 02:00 ET (07:00 GMT)