REG - AFC Energy Plc - Grant of Share Options

AFC EnergyAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250801:nRSA5089Ta&default-theme=true

RNS Number : 5089T  AFC Energy Plc  01 August 2025

01 August 2025

 

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, 9,794,687 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 1.039% of the Company's total
issued share capital.

The following Directors and Persons Discharging Managerial Responsibility
("PDMRs") of the Company have been granted Awards under the Company's PSP:

 Name of Director/PDMR  Title                    Total Awards Granted
 John Wilson            Chief Executive Officer  5,860,520
 Karl Bostock           Chief Financial Officer  2,344,208

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 receive Ordinary Shares up to the maximum
number set out above, subject to the satisfaction of certain performance
conditions and continued employment. 100% of the Awards will vest on 1 August
2028, or as soon as practicable after this date.

Vesting of the Awards is subject to the achievement of performance conditions
aligned with shareholder interests and expectations as follows:

·      Vesting of 50% of each Award based on an absolute total
shareholder return ("TSR") performance condition ("Absolute Award"); and

·      Vesting of 50% of each Award based on a relative TSR performance
condition ("Relative Award").

Under the absolute TSR condition, the Company's TSR over the three-year
performance period will be calculated and tested against a minimum TSR
threshold of 15% per annum. Below this threshold this portion of the Absolute
Award will be forfeited. At the minimum threshold, 25% of the maximum Absolute
Award will vest and this will increase linearly up to 100% of the Absolute
Award vesting for the achievement of an absolute TSR of 30% per annum.

Under the relative TSR condition, the Company's TSR as at the end of the
performance period will be compared against the FTSE AIM All-Share Index (the
"Index"). The Company's TSR falling below the price performance of the Index
will mean this portion of the Relative Award will be forfeited. A Company TSR
in line with the Index price performance shall mean that 25% of the maximum
Relative Award will vest and this will increase linearly up to 100% of the
Relative Award vesting up to a TSR which is in line with the Index price
performance plus 15% per annum.

The Awards have a maximum term of 10 years from the date of grant.

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

 Brendan Keane (Company Secretary)                              investors@afcenergy.com (mailto:investors@afcenergy.com)

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

 Richard Crichton / Georgia Langoulant / Emily Bhasin

 Zeus - Joint Broker                                            +44 (0) 203 829 5000

 David Foreman / James Hornigold (Investment Banking)

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

 RBC Capital Markets - Joint Broker                             +44 (0) 20 7653 4000

 Matthew Coakes / Teri Su

 Eduardo Famini / James Maitland

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

 Ben Brewerton / Chris Laing / Evie Taylor                      afcenergy@fticonsulting.com (mailto:afcenergy@fticonsulting.com)

 1    Details of the person discharging managerial responsibilities / person closely

    associate

 a)   Name                                                         John Wilson

 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 £0.001 each in the Company (the "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           5,860,520

 

 d)   Aggregated Information                                        n/a single transaction

      Volume

      Price
 e)   Date of transaction                                          1 August 2025
 f)   Place of transaction                                         Outside a trading venue

 

 

d)

Aggregated Information

 

Volume

 

Price

 n/a single transaction

 

e)

Date of transaction

1 August 2025

f)

Place of transaction

Outside a trading venue

 

 1    Details of the person discharging managerial responsibilities / person closely

    associate

 a)   Name                                                         Karl Bostock

 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 £0.001 each in the Company (the "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           2,344,208

 

 d)   Aggregated Information                                        n/a single transaction

      Volume

      Price
 e)   Date of transaction                                          1 August 2025
 f)   Place of transaction                                         Outside a trading venue

 

 

d)

Aggregated Information

 

Volume

 

Price

 n/a single transaction

 

e)

Date of transaction

1 August 2025

f)

Place of transaction

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHDGGDRGUXDGUB