AFC Energy Plc Result of AGM (3387K)
April 15 2015 - 10:34AM
UK Regulatory
TIDMAFC
RNS Number : 3387K
AFC Energy Plc
15 April 2015
AFC Energy plc
("AFC Energy" or the "Company")
Result of AGM
AFC Energy (AIM: AFC) is pleased to announce that, at the
Company's Annual General Meeting today, all resolutions were duly
passed.
A copy of the presentation given to shareholders at the Annual
General Meeting by CEO Adam Bond will be available on the Company's
web site www.afcenergy.com.
Directorate change
As announced on 3 March 2015, Sir John Sunderland has decided to
step down from the following conclusion of the Company's AGM. The
Board are extremely grateful to Sir John for his efforts throughout
his time with AFC Energy.
Grant of Share Options
AFC Energy announces that further to their employment last year,
the Company yesterday agreed to grant certain employees options
over 635,000 ordinary shares representing 0.22% of the current
issued share capital (the "Options").
The Options have been granted under the rules of the AFC Energy
Plc 2007 Share Option Scheme. The purpose of the Options are to
incentivise, retain and attract employees.
The Options are exercisable at a price of 41 pence per Ordinary
Share being the closing mid-price on 13 April 2015. The Options
shall vest on the 3rd anniversary of the date of grant of the
Options, will be exercisable between the 3rd and 10th anniversary
of the date of grant but are otherwise unconditional.
Following the issue of the Options there will be EMI options
over 8,290,000 Ordinary Shares in issue, representing approximately
2.87% of the current issued share capital of the Company, and
6,947,800 warrants over Ordinary Shares in issue, representing
approximately 2.41% of the current issued share capital of the
Company.
Director Shareholding
The Company has been informed that on 14 April 2015 Mr Mitchell
Field, Director of AFC Energy, purchased 110,000 Ordinary Shares on
behalf of his pension at a price of 46.5 pence per share from his
own existing direct holding.
Following this transaction Mr. Field and his Related Parties
will continue to have a beneficial interest in 2,644,810 shares in
the Company, representing 0.92% of the total issued share
capital.
For further information, please contact:
AFC Energy plc
Adam Bond (CEO) +44 (0) 20 3697 1209
Zeus Capital Limited - Nominated Adviser and Joint Broker
Phil Walker, John Treacy
Alex Davies, John Goold +44 (0) 20 7533 7727
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 is fast approaching commercialisation for its
proven low-cost alkaline fuel cell system ("KORE"), which converts
hydrogen into 'clean' electricity. AFC's key project POWER-UP will
demonstrate the world's largest alkaline fuel cell system at Air
Products' industrial gas plant in Stade, Germany. The date for the
demonstration of the 240kW KORE system has been fast tracked to
December 2015, representing the final phase of AFC's
pre-commercialisation technical development programme and creating
the platform for the Company's global commercial fuel cell
deployment. 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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