REG - Pineapple Power Corp - Grant of Options

Pineapple PowerAnnouncement

08/02/2021 07:00

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RNS Number : 2355O  Pineapple Power Corporation PLC  08 February 2021

08 February 2021

Pineapple Power Corporation PLC

 

("Pineapple" or the "Company")

 

Grant of Options

 

Pineapple Power Corporation PLC, traded on the Standard Market segment of the
London Stock Exchange under the symbol PNPL, announces the grant of options
over new ordinary shares of 0.01p each in the Company ("Options").

A total of 6,000,000 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 11p 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 approximately 10 per
cent of the Company's current issued share capital. The exercise price is
equal to the closing price of the shares on the LSE on February 5, 2021. The
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
 Richard Offer        Corporate Finance Advisor  500,000
 Ryan Reynolds        Financial Advisor          500,000
                                                 6,000,000

Claudio Morandi, Director stated -

"The Board is committed to pursuing acquisition opportunities and completing a
reverse takeover in the renewable or clean energy sector. The grant of these
options further aligns our interests with our shareholders. We are pleased
with our progress to date and welcome the positive interest in our company
exhibited by our share price and trading liquidity and we are focusing on
continuing this progress for the benefit of all our stakeholders."

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 pence 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 - £0.10   1,250,000

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      5 February 2021

 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 pence 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 £0.10   1,250,000

 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price

 e)   Date of the transaction                                       5 February 2021

 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

 Tancredi Intelligent Communications

 Salamander Davoudi                   +44 795 754 9906

 salamander@tancredigroup.com

 Helen Humphrey

 helen@tancredigroup.com              +44 744 922 6720

 

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