REG - Proton Motor Power - Issue of Equity

Proton Motor Power SystemsAnnouncement

28/11/2023 07:00

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RNS Number : 8223U  Proton Motor Power Systems PLC  28 November 2023

28 November 2023

 

Proton Motor Power Systems plc

("Proton" or the "Company")

 

Issue of Equity, Director dealings and Key Person Stock award scheme

 

Proton Motor Power Systems plc (AIM: PPS), the designer, developer and
producer of fuel cells and fuel cell electric hybrid systems with a
zero-carbon footprint, announces the issue of new ordinary shares of 0.5 pence
each in the capital of the Company ("Ordinary Shares") pursuant to the
Company's share schemes and in satisfaction of accrued loan interest. In
total, 37,176,473 new Ordinary Shares have been issued at an issue price of
5.50 pence (the "Issue Price"), being the closing mid-market price of an
Ordinary Share on 27 November 2023.

 

847,000 new Ordinary Shares have been issued pursuant to the Company's Key
Person Stock Award and Employee share purchase schemes (the "Scheme Shares")
at the Issue Price. Eligible employees and Directors were invited to subscribe
for Scheme Shares at the Issue Price pursuant to the Company's share schemes,
of which a number elected to participate. 200,000 of the Scheme Shares have
been issued to directors of the Company, as detailed in the table below.

 

                                    Resulting holding
 Director            Scheme Shares  Ordinary Shares held  As a percentage of the enlarged share capital  Options held
 Sebastian Goldner   100,000        410,000               0.026%                                         389,250
 Roman Kotlarzewski  100,000        550,000               0.035%                                         500,000

 

 

In addition, 36,329,473 new Ordinary Shares (the "Interest Shares") have today
been issued to Mr. Falih Nahab pursuant to the loan facility with Mr. Falih
Nahab, details of which were most recently announced by the Company on 20 June
2023 (the "Falih Nahab Facility"). The Interest Shares have been issued in
lieu of cash in satisfaction of approximately £1,998,121 of interest accrued
under the Falih Nahab Facility for the six months ended 30 June 2023. As
announced on 20 June 2023, it was envisaged that the Interest shares would be
issued once or twice yearly in February and/or July of each year, however the
Company was not able to issue the Interest Shares in July 2023 due to being in
a closed period at the time. As the Company is no longer in a closed period,
the Company now considers it appropriate to issue the Interest Shares in
accordance with the terms of the Falih Nahab Facility.

 

Application for admission to trading and total voting rights

 

Application has been made for a total of 37,176,473 new Ordinary Shares to be
admitted to trading on AIM, which is expected to take effect on or around 1
December 2023 ("Admission").

 

Following Admission, the Company's issued share capital will comprise
1,591,097,645 Ordinary Shares. The Company does not hold any Ordinary Shares
in treasury. This figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

 

Holdings in Company

 

On Admission, Mr. Falih Nahab will hold 417,357,889 Ordinary Shares,
representing 26.23% of the enlarged issued share capital. Falih Nahab is also
a 28% shareholder in SFN Cleantech Investment Limited, which holds a further
895,700,056 Ordinary Shares, representing 56.29% of the enlarged issued share
capital following Admission.

 

 

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                                                         Sebastian Goldner
 2.    Reason for the Notification
 a)    Position/status                                              Chief Technical and Operations Officer
 b)    Initial notification/Amendment                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         Proton Motor Power Systems Plc
 b)    LEI                                                          213800TRXTSRGG8J2P59
 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 GBP 0.005

       Identification code                                          ISIN: GB00BP83GZ24
 b)    Nature of the transaction                                    Key Person Stock Award scheme
 c)    Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                    5.50      100,000

 
 d)    Aggregated information:
       -  Aggregated volume                                         100,000
       -  Price                                                     5.50
 e)    Date of the transaction                                      27 November 2023
 f)    Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information:

-  Aggregated volume

100,000

-  Price

5.50

e)

Date of the transaction

27 November 2023

f)

Place of the transaction

Outside a trading venue

 

 

 2.    Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                         Roman Kotlarzewski
 2.    Reason for the Notification
 a)    Position/status                                              Group Finance Director
 b)    Initial notification/Amendment                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         Proton Motor Power Systems Plc
 b)    LEI                                                          213800TRXTSRGG8J2P59
 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 GBP0.005

       Identification code                                          ISIN: GB00BP83GZ24
 b)    Nature of the transaction                                    Key Person Stock Award scheme
 c)    Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                    5.50      100,000

 
 d)    Aggregated information:
       -  Aggregated volume                                         100,000
       -  Price                                                     5.50
 e)    Date of the transaction                                      27 November 2023
 f)    Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information:

-  Aggregated volume

100,000

-  Price

5.50

e)

Date of the transaction

27 November 2023

f)

Place of the transaction

Outside a trading venue

 

For further information:

 

 Proton Motor Power Systems Plc
 Dr Faiz Nahab, CEO
 Roman Kotlarzewski, CFO               +49 (0) 173 189 0923

 Investor relations:                   www.protonpowersystems.com

                                       investor-relations@proton-motor.de

 Allenby Capital Limited
 Nominated Adviser & Broker            +44 (0) 20 3328 5656
 James Reeve / Vivek Bhardwaj

 Celicourt Communications
 PR Adviser                            +44 (0) 20 7770 6424
 Mark Antelme / Philip Dennis          protonmotor@celicourt.uk (mailto:protonmotor@celicourt.uk)

About Proton Motor Fuel Cell GmbH

Proton Motor has more than 20 years of experience in Power Solutions using
CleanTech technologies such as hydrogen fuel cells, fuel cell and hybrid
systems with a zero carbon footprint.  Based in Puchheim near Munich, Proton
Motor offers complete fuel cell and hybrid systems from a single source - from
the development and production through the implementation of customized
solutions.  The focus of Proton Motor is on back-to-base, for example, for
mobile, marine and stationary solutions applications.  The product portfolio
consists of base-fuel cell systems, standard complete systems, as well as
customized systems.

 

Proton Motor Fuel Cell GmbH is a wholly owned subsidiary of Proton Motor Power
Systems plc. The Company has been quoted on the AIM market of the London Stock
Exchange since October 2006 (code: PPS).

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