AFC Energy Plc Grant of Share Options (2556B)
01 June 2023 - 4:00PM
UK Regulatory
TIDMAFC
RNS Number : 2556B
AFC Energy Plc
01 June 2023
AFC Energy Plc
1 June 2023
AFC Energy Plc
("AFC Energy" or the "Company")
Grant of Share Options
AFC Energy (AIM: AFC) is pleased to announce that it has today
granted awards by way of nominal cost options over, in aggregate,
4,664,000 ordinary shares of GBP0.001 each in the Company
("Ordinary Shares") ("Awards") to certain executive directors,
senior management and employees under the Company's Performance
Share Plan ("PSP"). This represents 0.63% of the Company's total
issued share capital.
The following Directors of the Company have been granted Awards
under the Company's PSP: ""
Name of PDMR Title Maximum number of Ordinary Shares (Total Award)
Adam Bond Chief Executive Officer 2,142,415
------------------------ -------------------------------------------------
Peter Dixon-Clarke Chief Financial Officer 978,042
------------------------ -------------------------------------------------
The Company's PSP has been designed to reward employees of the
Company for performance that delivers value for shareholders and
incentivise employees to work effectively together to deliver key
corporate objectives.
The Awards entitle the individual to acquire Ordinary Shares up
to the maximum number set out above, subject to the satisfaction of
certain performance conditions and continued employment. The Awards
will vest on 1 June 2026, or as soon as practicable after this
date.
The performance testing relating to the Awards will be split
equally between an Absolute Total Shareholder Return ("TSR")
performance condition and a Relative TSR condition.
Under the Absolute TSR condition, at the vesting date the
Company's TSR over the three year performance period will be
calculated and tested against a threshold of 15% per annum. Below
this threshold this portion of the Award will be forfeited. At the
threshold, 12.5% of the maximum Award will vest and this will
increase linearly up to 50% vesting for the achievement of 30% per
annum.
Under the Relative TSR condition, the Company's TSR as at the
end of the Performance Period will be ranked against constituents
of the FTSE AIM 100 Index. A ranking below a median threshold will
mean this portion of the Award will be forfeited. At the threshold,
12.5% of the maximum Award will vest and this will increase
linearly up to 50% vesting at upper quartile ranking.
Set out below are the notifications made in accordance with
Article 19 of the UK Market Abuse Regulation.
For further information, please contact:
AFC Energy plc +44 (0) 14 8327 6726
Gerry Agnew (Chair of remuneration committee) investors@afcenergy.com
Peel Hunt LLP - Nominated Adviser and Joint
Broker
Richard Crichton / Tom Ballard / Georgia
Langoulant +44 (0) 207 418 8900
Zeus - Joint Broker
David Foreman / James Hornigold (Investment
Banking)
Dominic King (Corporate Broking) / Rupert
Woolfenden (Sales) +44 (0) 203 829 5000
FTI Consulting - Financial PR Advisors +44 (0) 203 727 1000
Ben Brewerton / Nick Hennis / Dhruv Soni afcenergy@fticonsulting.com
1 Details of the person discharging managerial responsibilities
/ person closely associate
a) Name Adam Bond
---------------------------- -------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Executive Officer
---------------------------- -------------------------------------------
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 Grant of awards over Shares under the AFC
Energy Plc Performance Share Plan
---------------------------- -------------------------------------------
c) Price(s) and volume(s) Price per Volume
share
GBP0.001 2,142,415
-----------
---------------------------- -------------------------------------------
d) Aggregated Information n/a single transaction
Volume
Price
---------------------------- -------------------------------------------
e) Date of transaction 1 June 2023
---------------------------- -------------------------------------------
f) Place of transaction Outside a trading venue
---------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associate
a) Name Peter Dixon-Clarke
---------------------------- -------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Financial Officer
---------------------------- -------------------------------------------
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 Grant of awards over Shares under the AFC
Energy Plc Performance Share Plan
---------------------------- -------------------------------------------
c) Price(s) and volume(s) Price per Volume
share
GBP0.001 978,042
---------
---------------------------- -------------------------------------------
d) Aggregated Information n/a single transaction
Volume
Price
---------------------------- -------------------------------------------
e) Date of transaction 1 June 2023
---------------------------- -------------------------------------------
f) Place of transaction Outside a trading venue
---------------------------- -------------------------------------------
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHBCGDUSDXDGXB
(END) Dow Jones Newswires
June 01, 2023 02:00 ET (06:00 GMT)
Afc Energy (LSE:AFC)
Historical Stock Chart
From Apr 2024 to May 2024
Afc Energy (LSE:AFC)
Historical Stock Chart
From May 2023 to May 2024
