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 michael.rowan@aegplc.com
Group Plc Executive Chairman
------------------- ------------------------- ----------------------------
Richard Spinks richard.spinks@aegplc.com
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 info@stbridespartners.co.uk
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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