REG - AFC Energy Plc - Grant of Share Options

AFC EnergyAnnouncement

01/06/2023 07:00

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RNS Number : 2556B  AFC Energy Plc  01 June 2023

AFC Energy Plc

1 June 2023

 

AFC Energy Plc

("AFC Energy" or the "Company")

Grant of Share Options

AFC Energy (AIM: AFC) is pleased to announce that it has today granted awards
by way of nominal cost options over, in aggregate, 4,664,000 ordinary shares
of £0.001 each in the Company ("Ordinary Shares") ("Awards") to certain
executive directors, senior management and employees under the Company's
Performance Share Plan ("PSP"). This represents 0.63% of the Company's total
issued share capital.

The following Directors of the Company have been granted Awards under the
Company's PSP: ""

 Name of PDMR        Title                    Maximum number of Ordinary Shares (Total Award)
 Adam Bond           Chief Executive Officer  2,142,415
 Peter Dixon-Clarke  Chief Financial Officer  978,042

 

The Company's PSP has been designed to reward employees of the Company for
performance that delivers value for shareholders and incentivise employees to
work effectively together to deliver key corporate objectives.

The Awards entitle the individual to acquire Ordinary Shares up to the maximum
number set out above, subject to the satisfaction of certain performance
conditions and continued employment. The Awards will vest on 1 June 2026, or
as soon as practicable after this date.

The performance testing relating to the Awards will be split equally between
an Absolute Total Shareholder Return ("TSR") performance condition and a
Relative TSR condition.

Under the Absolute TSR condition, at the vesting date the Company's TSR over
the three year performance period will be calculated and tested against a
threshold of 15% per annum. Below this threshold this portion of the Award
will be forfeited. At the threshold, 12.5% of the maximum Award will vest and
this will increase linearly up to 50% vesting for the achievement of 30% per
annum.

Under the Relative TSR condition, the Company's TSR as at the end of the
Performance Period will be ranked against constituents of the FTSE AIM 100
Index. A ranking below a median threshold will mean this portion of the Award
will be forfeited. At the threshold, 12.5% of the maximum Award will vest and
this will increase linearly up to 50% vesting at upper quartile ranking.

Set out below are the notifications made in accordance with Article 19 of the
UK Market Abuse Regulation.

For further information, please contact:

 

 AFC Energy plc                                                 +44 (0) 14 8327 6726

 Gerry Agnew (Chair of remuneration committee)                  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 / Nick Hennis / Dhruv Soni                       afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associate

 a)   Name                                                         Adam Bond

 2    Reason for the notification

 a)   Position/status                                              Chief Executive Officer

 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  Ordinary Shares of 0.1 pence each in the Company ("Shares")

      Identification code                                          ISIN: GB00B18S7B29

 b)   Nature of the transaction                                    Grant of awards over Shares under the AFC Energy Plc Performance Share Plan

 c)   Price(s) and volume(s)

Price per share  Volume
                                                                   £0.001           2,142,415

 
 d)   Aggregated Information                                        n/a single transaction

      Volume

      Price
 e)   Date of transaction                                          1 June 2023
 f)   Place of transaction                                         Outside a trading venue

 

d)

Aggregated Information

 

Volume

 

Price

 n/a single transaction

 

e)

Date of transaction

1 June 2023

f)

Place of transaction

Outside a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associate

 a)   Name                                                         Peter Dixon-Clarke

 2    Reason for the notification

 a)   Position/status                                              Chief Financial Officer

 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  Ordinary Shares of 0.1 pence each in the Company ("Shares")

      Identification code                                          ISIN: GB00B18S7B29

 b)   Nature of the transaction                                    Grant of awards over Shares under the AFC Energy Plc Performance Share Plan

 c)   Price(s) and volume(s)

Price per share  Volume
                                                                   £0.001           978,042

 
 d)   Aggregated Information                                        n/a single transaction

      Volume

      Price
 e)   Date of transaction                                          1 June 2023
 f)   Place of transaction                                         Outside a trading venue

 

d)

Aggregated Information

 

Volume

 

Price

 n/a single transaction

 

e)

Date of transaction

1 June 2023

f)

Place of transaction

Outside a trading venue

 

 

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