REG - Pineapple Power Corp - Additional Advisory Board Member

Pineapple PowerAnnouncement

20/02/2023 07:00

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RNS Number : 3424Q  Pineapple Power Corporation PLC  20 February 2023

Pineapple Power Corporation PLC

Pineapple Expands Advisory Board

February 20, 2023

 

Pineapple Power Corporation PLC ( "Pineapple or the Company" ) is pleased to
announce that Dr Graham Cooley, formerly CEO of ITM Power plc has agreed to
join the Company's Advisory Board.

Graham joined ITM Power as CEO in 2009 following a career in the power and
technology sectors where he developed a number of novel technologies and
oversaw several multi-million-pound fundraising rounds. ITM Power is now one
of the world's leading manufacturers of electrolysers and was the first
hydrogen related company to be listed on the London Stock Exchange. Graham
started his career in the power sector in 1989 and has a PhD in physics, an
MBA and is a Fellow of the Institute of Metals, Minerals and Mining (FIMMM).
Graham also sits on a number of industry bodies and is a member of the UK
Government's Hydrogen Advisory Council.

Graham led ITM Power through its transition from an R&D business to a
world leading electrolyser manufacturing company. During his time with ITM
Power Graham introduced the company's products to new markets, forged
ground-breaking industrial partnerships and oversaw equity fundraisings of
almost £500 million. The company has rapidly evolved and in 2021, opened the
world's largest electrolyser manufacturing facility.

Clive de Larrabeiti - Corporate Finance Advisor to Pineapple stated - "We are
delighted to welcome someone of Graham's extensive experience and industry
knowledge to our Advisory Board. His participation in our efforts to delineate
an appropriate acquisition in the renewable energy sector is most welcome and
strengthens our ability to connect with the rapidly growing universe of
renewable energy through his extensive contact network and the high regard he
enjoys within the hydrogen and power storage industry."

Grant of Incentive Stock Options

In addition to the above, the Company wishes to announce the granting of stock
options over new ordinary shares of £0.01 each in the Company ("Options").

A total of 6,750,000 Options have been awarded to Directors and Advisors
involved in the continuing advancement of the Company's goal to complete a
reverse take-over transaction in the renewable energy sector.

The Options have an exercise price of 3p per Ordinary Share. The Options vest
and are exercisable 6 months from the date of grant and expire in two years
from the date of grant.  The Options granted represent in aggregate 9.42 per
cent of the Company's current issued share capital. These incentive stock
options replace the previously granted options issued to Directors and
Advisors in February 2021 which have now expired.

 

 

The new Options have been granted in the amounts set out below:

 Name                 Position Held              No. of Options granted
 Claudio Morandi      Non-executive Director     1,250,000
 Andrew Holland       Non-executive Director     1,250,000
 Clive de Larrabeiti  Corporate Finance Advisor  1,250,000
 Peter Mills          Corporate Administrator    1,250,000
 Graham Cooley        Corporate Advisor          1,250,000
 Richard Offer        Corporate Finance Advisor  500,000
                                                 6,750,000

 

 

Claudio Morandi, Non-Executive Director and Chairman of the Company, stated -

"We continue to be excited by the increasing interest and momentum which is
building in the renewable energy space. The Company enjoys a listing on a
well-regarded stock exchange with recognised international appeal for growing
companies seeking development capital to realize their corporate goals and
business plans by accessing the capital markets. As one the few cash shells
available in this market, we anticipate an exciting year ahead."

 

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them in
accordance with the requirements of the Market Abuse (Amendment) (EU exit)
Regulations 2019/310 are set out here.

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Claudio Morandi

 2    Reason for the notification

 a)   Position/status                                              Non-Executive Director

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Pineapple Power Corporation PLC

 b)   LEI                                                          213800BTD7JL99MTGQ68

 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 £0.01 each

      Identification code                                          GB00BD0SN947

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)                                   Volume(s)
                                                                                     Exercise price of Nil per Option - £0.03   1,250,000

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      17 February 2023

 f)   Place of the transaction                                     London Stock Exchange

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them:

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Andrew Holland

 2    Reason for the notification

 a)   Position/status                                              Non-Executive Director

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Pineapple Power Corporation PLC

 b)   LEI                                                          213800BTD7JL99MTGQ68

 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 £0.01 each

      Identification code                                          GB00BD0SN947

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)                                 Volume(s)
                                                                                     Exercise price of Nil per Option £0.03   1,250,000

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      17 February 2023

 f)   Place of the transaction                                     London Stock Exchange

 

 

For further information please contact -

 

 Pineapple Power Corporation PLC
 Claudio Morandi - Director

                                      +44 203 039 3913

 Clive de Larrabeiti

 Corporate Finance Advisor

 clive.d.l@pineapple-powercorp.com   +44 797 317 7973

 Joint Corporate Broker

 Peterhouse Capital                  +44 207 220 9791

 Charles Goodfellow

 cg@peterhousecap.com

 Joint Corporate Broker              +44 203 026 0320

 Axis Capital Markets

 Richard Hutchison

 rh@axcap247.com

 Media Relations

 David Burton

 Total Market Solutions

 davidburton.tms@gmail.com

 

 

 

 

 

 

 

 

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