AFC Energy Plc Issue of Equity and Director / PDMR Shareholding (6551U)
January 20 2017 - 2:00AM
UK Regulatory
TIDMAFC
RNS Number : 6551U
AFC Energy Plc
20 January 2017
20 January 2017
AFC Energy PLC
("AFC Energy" or the "Company")
Issue of Equity and Director Dealing
AFC Energy (AIM: AFC), the industrial fuel cell power company,
announces that application has been made for the issue of 250,000
ordinary shares of 0.1 pence each ("Ordinary Shares") to Adam Bond,
Chief Executive Officer of the Company at par value.
The issue of Ordinary Shares is made pursuant to arrangements
detailed in the announcement of Adam Bond's contract renewal on 17
July 2015 under which it was agreed 1,000,000 Ordinary Shares would
be issued to Adam Bond in four equal tranches. This issue is the
final tranche which became due on 31 December 2016.
Following the issue of Ordinary Shares, Adam Bond will be
interested in 3,000,000 Ordinary Shares, representing approximately
0.97% of the issued share capital of the Company.
The 250,000 new Ordinary Shares will rank pari passu with the
Company's existing ordinary share capital and application has been
made to the London Stock Exchange for the Ordinary Shares to be
admitted to trading which is expected to commence at 8.00 a.m. on
25 January 2017 ("Admission").
Following Admission, the total issued share capital of the
Company consists of 310,263,943 Ordinary Shares, none of which are
held in treasury. Accordingly, following Admission, the total
number of voting rights in the Company will be 310,263,943. This
figure may be used by shareholders as the denominator by which they
can determine if they are required to notify their interest in, or
a change to their interest in the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer) +44 (0) 20 3697 1209
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker
Andrew Craig
Richard Salmond +44 (0) 20 7894 7000
M C Peat & Co LLP - Joint Broker
Charlie Peat +44 (0) 20 7104 2334
Lionsgate Communications - Public Relations
Jonathan Charles +44 (0) 20 3697 1209
About AFC Energy
AFC Energy plc has developed and successfully demonstrated an
alkaline fuel cell system ("KORE"), which converts hydrogen into
"clean" electricity. AFC Energy's key project POWER-UP demonstrated
the world's largest operational alkaline fuel cell system at Air
Products' industrial gas plant in Stade, Germany, in January 2016.
The Company is now looking to build upon an already established
pipeline of commercial opportunities and drive the findings from
the development phase of the technology into a technically
optimised and commercially relevant fuel cell system. For further
information, please visit our website: www.afcenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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