REG - Gelion PLC - CEO Board Appointment and Grant of Options

GelionAnnouncement

12/12/2022 07:00

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RNS Number : 3002J  Gelion PLC  12 December 2022

12 December 2022

Gelion plc

("Gelion" or the "Company")

 

CEO Board Appointment and Grant of Options

 

Further to the appointment of John Wood as CEO with effect from 21 November
2022, Gelion (AIM: GELN), the Anglo-Australian battery storage innovator, is
pleased to announce his appointment to the Board with immediate effect,
following the Company's AGM held on 9 December 2022 and completion of the
required regulatory due diligence.

 

Grant of Options

 

In conjunction with Mr Wood's appointment to the Board, Mr Wood has been
granted 2,704,000 options ("Options") to subscribe for new ordinary shares of
0.1 pence each in the capital of the Company ("Ordinary Shares"), in
accordance with the terms of the Company's new Share Option Plan. The Options
have an exercise price of 0.1 pence and will vest in three tranches as set out
below, provided that on each vesting date Mr Wood is in continuous employment
with Gelion. The Options expire, to the extent that they have not been
exercised, on 12 December 2027.

 

-      1,622,400 Options will vest 12 months from the date of grant

-      540,800 Options will vest 24 months from the date of grant

-      540,800 Options will vest 36 months from the date of grant

 

All Options are subject to both malus and clawback provisions and good and bad
leaver provisions. All unvested options will vest in certain corporate events
such as a takeover of the company or a change of control. In these
circumstances the Options would normally vest and become exercisable in full
unless the Board decides that the Options will be pro-rated to take account of
the date the corporate event took place during the normal vesting period.

 

Subsequent to this issue of Options, the Company has approximately 8.68
million Options in issue, representing 8.0 % of the Company's issued share
capital.

 

Dr Steve Mahon, Chairman of Gelion, said: "I am delighted to welcome John to
the Board. In the few short weeks since he joined as CEO, his wealth of
commercial, battery and manufacturing experience is already coming to the
fore. We look forward to the future under his leadership with a clear ambition
to take Gelion to the next level of growth to deliver shareholder value."

 

 

CONTACTS

 Gelion plc                                                    via Alma PR

 Steve Mahon, Chairman

 Amit Gupta, CFO

 Thomas Maschmeyer, Founder and Principal Technology Advisor

 finnCap Ltd (Nominated Adviser and Sole Broker)               +44 207 220 0500
 Corporate Finance

 Christopher Raggett

 Seamus Fricker

 Fergus Sullivan

 ECM

 Barney Hayward

 Alma PR (Financial PR Adviser)                                +44 20 3405 0205

 Justine James                                                 gelion@almapr.co.uk

 Josh Royston

 Hannah Campbell

 Will Ellis Hancock

 

Regulatory disclosures

 

The following information regarding John William Wood, aged 59, is disclosed
under Schedule 2(g) of the AIM Rules for Companies:

 

 Current directorships and/or partnerships:  Former directorships and/or partnerships (within the last five years):

 Gelion Technologies Pty Limited             Smart Storage PTY Ltd

 On The Jetty PTY Ltd                        Ecoult Holding Co.

 Out of the Woods Super PTY Ltd

 

As at 12 December 2022, John Wood beneficially holds 24,000 Ordinary Shares,
representing 0.02% of the Company's issued share capital. In addition, he
holds Options over 2,704,000 Ordinary Shares.

 

There are no further disclosures required under Schedule 2(g) of the AIM Rules
for Companies.

 

The Notification of Dealing Form set out below is provided in accordance with
the requirements of the EU Market Abuse Regulation.

 

       Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         John Wood
 1.    Reason for the notification
 a)    Position/status:                                              Chief Executive Officer
 b)    Initial notification/Amendment:                               Initial notification
 2.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name:                                                         Gelion plc
 b)    LEI:                                                          2138008NC7YL3MCUDR84
 3.    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:  Options over Ordinary Shares of 0.1p each

       Identification code:

                                                                     GB00BNBQZD59
 b)    Nature of the transaction:                                    Grant of Options
 c)    Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                     0.1p      2,704,000

 

 d)    Aggregated information:                                       N/A

       · Aggregated volume:

       · Price:
 e)    Date of the transaction:                                      12 December 2022
 f)    Place of the transaction:                                     Outside of a trading venue

 

 

d)

Aggregated information:

· Aggregated volume:

· Price:

N/A

 

e)

Date of the transaction:

12 December 2022

f)

Place of the transaction:

Outside of a trading venue

 

 

 

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