REG - AFC Energy Plc - Director/PDMR Shareholding

AFC EnergyAnnouncement

16/06/2023 14:15

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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 /Amendment                              Initial notification

 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 the financial instrument, type of instrument  Warrant for ordinary Shares of 0.1 pence each in the Company

      Identification code                                          ISIN: GB00B18S7B29

 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 per share  Volume
                                                                   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

 

d)

Aggregated Information

 

Volume

 

Exercise price

 

 

See above

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 (mailto:investors@afcenergy.com)

 Peel Hunt LLP - Nominated Adviser and Joint Broker             +44 (0) 207 418 8900

 Richard Crichton / Tom Ballard / Georgia Langoulant
 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

 Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)

 FTI Consulting - Financial PR Advisors                         +44 (0) 203 727 1000

 Ben Brewerton / / Dhruv Soni                                   afcenergy@fticonsulting.com (mailto: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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