Pineapple Power Corporation PLC Additional Advisory Board Member (3424Q)
20 February 2023 - 6:00PM
UK Regulatory
TIDMPNPL
RNS Number : 3424Q
Pineapple Power Corporation PLC
20 February 2023
Pineapple Power Corporation PLC
Pineapple Expands Advisory Board
February 20, 2023
Pineapple Power Corporation PLC ( "Pineapple or the Company" )
is pleased to announce that Dr Graham Cooley, formerly CEO of ITM
Power plc has agreed to join the Company's Advisory Board.
Graham joined ITM Power as CEO in 2009 following a career in the
power and technology sectors where he developed a number of novel
technologies and oversaw several multi-million-pound fundraising
rounds. ITM Power is now one of the world's leading manufacturers
of electrolysers and was the first hydrogen related company to be
listed on the London Stock Exchange. Graham started his career in
the power sector in 1989 and has a PhD in physics, an MBA and is a
Fellow of the Institute of Metals, Minerals and Mining (FIMMM).
Graham also sits on a number of industry bodies and is a member of
the UK Government's Hydrogen Advisory Council.
Graham led ITM Power through its transition from an R&D
business to a world leading electrolyser manufacturing company.
During his time with ITM Power Graham introduced the company's
products to new markets, forged ground-breaking industrial
partnerships and oversaw equity fundraisings of almost GBP500
million. The company has rapidly evolved and in 2021, opened the
world's largest electrolyser manufacturing facility.
Clive de Larrabeiti - Corporate Finance Advisor to Pineapple
stated - "We are delighted to welcome someone of Graham's extensive
experience and industry knowledge to our Advisory Board. His
participation in our efforts to delineate an appropriate
acquisition in the renewable energy sector is most welcome and
strengthens our ability to connect with the rapidly growing
universe of renewable energy through his extensive contact network
and the high regard he enjoys within the hydrogen and power storage
industry."
Grant of Incentive Stock Options
In addition to the above, the Company wishes to announce the
granting of stock options over new ordinary shares of GBP0.01 each
in the Company ("Options").
A total of 6,750,000 Options have been awarded to Directors and
Advisors involved in the continuing advancement of the Company's
goal to complete a reverse take-over transaction in the renewable
energy sector.
The Options have an exercise price of 3 p per Ordinary Share.
The Options vest and are exercisable 6 months from the date of
grant and expire in two years from the date of grant. The Options
granted represent in aggregate 9.42 per cent of the Company's
current issued share capital. These incentive stock options replace
the previously granted options issued to Directors and Advisors in
February 2021 which have now expired.
The new Options have been granted in the amounts set out
below:
Name Position Held No. of Options granted
Claudio Morandi Non-executive Director 1,250,000
------------------------- -----------------------
Andrew Holland Non-executive Director 1,250,000
------------------------- -----------------------
Corporate Finance
Clive de Larrabeiti Advisor 1,250,000
------------------------- -----------------------
Peter Mills Corporate Administrator 1,250,000
------------------------- -----------------------
Graham Cooley Corporate Advisor 1,250,000
------------------------- -----------------------
Corporate Finance
Richard Offer Advisor 500,000
--------------------- ------------------------- -----------------------
6,750,000
-----------------------
Claudio Morandi, Non-Executive Director and Chairman of the
Company, stated -
"We continue to be excited by the increasing interest and
momentum which is building in the renewable energy space. The
Company enjoys a listing on a well-regarded stock exchange with
recognised international appeal for growing companies seeking
development capital to realize their corporate goals and business
plans by accessing the capital markets. As one the few cash shells
available in this market, we anticipate an exciting year
ahead."
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the requirements of the
Market Abuse (Amendment) (EU exit) Regulations 2019/310 are set out
here.
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Claudio Morandi
---------------------------- --------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------- --------------------------------------
b) Initial notification Initial Notification
/Amendment
---------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--------------------------------------------------------------------
a) Name Pineapple Power Corporation PLC
---------------------------- --------------------------------------
b) LEI 213800BTD7JL99MTGQ68
---------------------------- --------------------------------------
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 GBP0.01 each
the financial instrument,
type of instrument
----
Identification GB00BD0SN947
code
b) Nature of the transaction Grant of options
---------------------------- --------------------------------------
c) Price(s) and volume(s)
---- ---------------------- -----------
Price(s) Volume(s)
---- ---------------------- -----------
Exercise price
of Nil per Option
- GBP0.03 1,250,000
-------------------------------------------------------- -----------
d) Aggregated information N/A
----
- Aggregated volume
- Price
e) Date of the transaction 17 February 2023
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial
responsibilities / person closely associated
a) Name Andrew Holland
---------------------------- --------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------- --------------------------------------
b) Initial notification Initial Notification
/Amendment
---------------------------- --------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--------------------------------------------------------------------
a) Name Pineapple Power Corporation PLC
---------------------------- --------------------------------------
b) LEI 213800BTD7JL99MTGQ68
---------------------------- --------------------------------------
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 GBP0.01 each
the financial instrument,
type of instrument
----
Identification GB00BD0SN947
code
b) Nature of the transaction Grant of options
---------------------------- --------------------------------------
c) Price(s) and volume(s)
---- ---------------------- -----------
Price(s) Volume(s)
---- ---------------------- -----------
Exercise price
of Nil per Option
GBP0.03 1,250,000
-------------------------------------------------------- -----------
d) Aggregated information N/A
----
- Aggregated volume
- Price
e) Date of the transaction 17 February 2023
---------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
---------------------------- --------------------------------------
For further information please contact -
Pineapple Power Corporation PLC
Claudio Morandi - Director
+44 203 039 3913
Clive de Larrabeiti
Corporate Finance Advisor
clive.d.l@pineapple-powercorp.com +44 797 317 7973
-------------------
Joint Corporate Broker
Peterhouse Capital
Charles Goodfellow
cg@peterhousecap.com
+44 207 220 9791
Joint Corporate Broker
Axis Capital Markets
Richard Hutchison
rh@axcap247.com +44 203 026 0320
-------------------
Media Relations
David Burton
Total Market Solutions
davidburton.tms@gmail.com
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