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Share Name Share Symbol Market Type Share ISIN Share Description
Velocys Plc LSE:VLS London Ordinary Share GB00B11SZ269 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.03 -0.49% 6.05 6.05 6.10 6.29 5.93 6.20 2,984,227 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.3 -9.9 -1.9 - 64

Velocys PLC Director/PDMR Shareholding

10/02/2021 7:00am

UK Regulatory (RNS & others)


Velocys (LSE:VLS)
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RNS Number : 5322O

Velocys PLC

10 February 2021

News release

Velocys plc

("Velocys" or "the Company")

10 February 2021

Grant of Share Options to Directors

Velocys plc (VLS.L), the sustainable fuels technology company, announces that on 9 February 2021 Henrik Wareborn, Chief Executive Officer and a director of the Company, and Andrew Morris, Chief Financial Officer and a director of the Company, were granted options ("Annual Awards") under the Velocys 2012 Share Option Scheme (as amended) over the Company's GBP0.01 Ordinary shares ("Ordinary Shares"). The Annual Awards, which have been made under the Rules of the Velocys 2012 Share Option Scheme and are in line with the annual awards made in 2019 which were discussed with major shareholders, are as follows:

 
 Name of Director    Type of share      Number of      Exercise     Vesting/     Number of share 
                         option        share options     price       Exercise     options as % of 
                                          granted                   (See notes    present issued 
                                                                      below)       share capital 
                     Annual Award 
 Henrik Wareborn      2020              3,264,503      GBP0.0786     Note 1           0.31% 
                    ---------------  ---------------  ----------  ------------  ----------------- 
                     Annual Award 
 Andrew Morris        2020              2,938,053      GBP0.0786     Note 1           0.28% 
                    ---------------  ---------------  ----------  ------------  ----------------- 
 

Following these notifications:

(i) Henrik Wareborn is interested in 2,118 ,445 Ordinary Shares and Options over 13,514,503 Ordinary Shares of the Company, together representing 1.47% of the present issued share capital of the Company.

(ii) Andrew Morris is interested in 847,817 Ordinary Shares and Options over 12,563,053 Ordinary Shares of the Company, together representing 1.26% of the present issued share capital of the Company.

The Annual Awards are in addition to grants of share options over 8,385,650 Ordinary Shares (representing 0.79% of the present issued share capital) to Velocys' other key staff in respect of share awards for the 2020 financial year.

The above options are subject to terms for Malus and Clawback and may not in any event be exercised later than the day immediately preceding the tenth anniversary of the date of grant.

   Note 1:   The Annual Awards vest as to: 
   (i)         50% on the third anniversary of the date of grant and 

(ii) 50% on the third anniversary of the date of grant subject to the total market capitalisation of the Company being 50% higher on the third anniversary of the date of grant compared with the market capitalisation of the Company at the date of the grant.

- Ends -

For further information, please contact:

 
 Velocys 
  Henrik Wareborn, CEO 
  Andrew Morris, CFO 
  Lak Siriwardene, Head of Communications & 
  Sustainability                                 +44 1865 800821 
 Panmure Gordon (UK) Limited (Nomad and Joint 
  Broker) 
  Dan Norman (Corporate Broking) 
  Emma Earl (Corporate Finance) 
  John Prior (Corporate Finance)                 +44 20 7886 2500 
                                                ----------------- 
 Shore Capital Stockbrokers Limited (Joint 
  Broker) 
  Henry Willcocks (Corporate Broking) 
  Toby Gibbs (Corporate Advisory) 
  Sarah Mather (Corporate Advisory)              +44 20 7408 4090 
                                                ----------------- 
 Radnor Capital (Investor relations) 
  Joshua Cryer 
  Iain Daly                                      +44 20 3897 1830 
                                                ----------------- 
 Field Consulting (PR)                            +44 20 7096 
  Robert Jeffery                                   7730 
                                                ----------------- 
 

Notes to Editors

Velocys is an international UK-based sustainable fuels technology company. Velocys designed, developed and now licenses proprietary Fischer-Tropsch technology for the generation of clean, low carbon, synthetic drop-in aviation and road transport fuel from municipal solid waste and residual woody biomass.

Velocys is at present developing two reference projects: one in Natchez, Mississippi, USA (incorporating Carbon Capture, Utilisation and Storage) and one in Immingham, UK, to produce fuels that significantly reduce both greenhouse gas emissions and key exhaust pollutants for aviation and road transport. Originally a spin-out from Oxford University, in 2008 the company acquired a US company based on complementary reactor technology developed at the Pacific Northwest National Laboratory. Velocys is headquartered in Oxford in the United Kingdom.

www.velocys.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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February 10, 2021 02:00 ET (07:00 GMT)

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