AFC Energy Plc Result of AGM and Grant of Options (6484W)
April 28 2016 - 09:09AM
UK Regulatory
TIDMAFC
RNS Number : 6484W
AFC Energy Plc
28 April 2016
28 April 2016
AFC Energy PLC
("AFC Energy" or the "Company")
Result of Annual General Meeting and Grant of Options
under Sharesave Scheme
Result of Annual General Meeting
AFC Energy (AIM: AFC), the industrial fuel cell power company,
is pleased to announce that, at the Company's Annual General
Meeting ("AGM") held earlier today, all resolutions were duly
passed.
A copy of the presentation given to shareholders at the AGM will
be available on the Company's website at www.afcenergy.com.
Grant of Share Options
The Company today agreed to grant certain employees options over
399,537 ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares") (the "Options"). The Options have been granted to
participating employees under the rules of the AFC Energy plc
Sharesave Scheme (the "Scheme"). The Scheme is an all-employee
share option scheme, which was approved by Her Majesty's Revenue
and Customs and was introduced to encourage wider employee share
ownership of the Company.
The Options are exercisable at a price of 12.20 pence and will
vest on the third anniversary of the date of grant of the Options.
The Options will be exercisable between the third and tenth
anniversary of the date of grant but are otherwise
unconditional.
Following the issue of Options there will be options over
13,855,000 Ordinary Shares representing approximately 4.5% of the
current issued share capital of the Company, warrants over
6,947,800 Ordinary Shares representing approximately 2.3% of the
current issued share capital of the Company and Scheme Options over
970,884 Ordinary Shares representing approximately 0.3% of the
current issued share capital of the Company.
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
Rachel Rigby +44 (0) 20 3697 1209
About AFC Energy
AFC Energy plc has developed and successfully operated 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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