AFC Energy Plc Director/PDMR Shareholding (0439D)
16 June 2023 - 11:01PM
UK Regulatory
TIDMAFC
RNS Number : 0439D
AFC Energy Plc
16 June 2023
16 June 2023
AFC Energy PLC
("AFC Energy" or the "Company")
Director / PDMR Shareholding
AFC Energy (AIM: AFC), a leading provider of hydrogen power
generation technologies, confirms that Gerry Agnew, non-executive
director, exercised 900,000 warrants for ordinary shares of 0.1
pence each in the Company ("New Shares") at an exercise price of
4.925 pence per New Share, and subsequently net-settled 278,316 of
those shares on 15 June 2023 to cover the tax liabilities which
have arisen as a result of the exercise.
Following these transactions, Gerry Agnew is now interested in
621,684 ordinary shares in the capital of the Company, representing
0.12% of the Company's issued share capital.
Admission and total voting rights
Application will be made to the London Stock Exchange plc for
the admission to trading on AIM of the New Ordinary Shares, which
is expected to become effective and dealings commence at 8.00 a.m.
on or around 22 June 2023 ("Admission"). The New Ordinary Shares
will rank pari passu with the existing ordinary shares.
The Company's enlarged issued share capital on Admission will
comprise 746,261,171 ordinary shares, each with voting rights. The
Company does not hold any shares in treasury. From Admission,
expected to take place on 22 June 2023, this figure of 746,261,171
ordinary shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
The following notification, made pursuant to Article 19(3) of
the Market Abuse Regulation, provides further details.
1 Details of the person discharging managerial responsibilities
/ person closely associate
a) Name Gerry Agnew
---------------------------- ---------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Non-Executive
---------------------------- ---------------------------------------------
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 Warrant for ordinary Shares of 0.1 pence
the financial instrument, each in the Company
type of instrument
Identification ISIN: GB00B18S7B29
code
b) Nature of the transaction (i) Exercise of warrants
(ii) Sale of ordinary shares following the
exercise described in (i) above to cover
income tax, NIC and fees.
---------------------------- ---------------------------------------------
c) Price(s) and volume(s) Exercise price Volume
per share
i 4.925 pence 900,000
----- ----------------- ---------
ii 15.508 pence 278,316
----------------- ---------
---------------------------- ---------------------------------------------
d) Aggregated Information
Volume See above
Exercise price
---------------------------- ---------------------------------------------
e) Date of transaction (i) 2 June 2023: Exercise
(ii) 15 June 2023: Net-settlement
---------------------------- ---------------------------------------------
f) Place of transaction (i) AFC Energy plc: London Stock Exchange,
AIM
---------------------------- ---------------------------------------------
For further information, please contact:
AFC Energy plc +44 (0) 14 8327 6726
Adam Bond (Chief Executive Officer) 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 / / Dhruv Soni afcenergy@fticonsulting.com
Notification of Dealing Form:
About AFC Energy
AFC Energy plc is deploying its hydrogen fuel cell systems to
provide clean electricity for on and off grid power needs. The
technology, pioneered over the past twelve years in the UK, is now
deployable to support the electrification of electric vehicle
chargers, off-grid decentralised power systems and data centre back
up applications with emerging opportunities across maritime and
rail as part of a portfolio approach to the decarbonisation of
local electricity needs. The Company also offers customers a
flexibility in sourcing lowest cost hydrogen through a "flexible
fuel" strategy incorporating hydrogen carrier fuels such as ammonia
and methanol and associated fuel conversion technologies.
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