REG - Proton Motor Power - Issue of Equity

Proton Motor Power SystemsAnnouncement

05/03/2024 16:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240305:nRSE6989Fa&default-theme=true

RNS Number : 6989F  Proton Motor Power Systems PLC  05 March 2024

5 March 2024

 

Proton Motor Power Systems plc

("Proton Motor" or the "Company")

 

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

 

Proton Motor Power Systems plc (AIM: PPS), the designer and producer of
hydrogen fuel cells and hydrogen 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, 70,653,401 new Ordinary Shares have been issued at an issue price of
3.25 pence (the "Issue Price"), being the closing mid-market price of an
Ordinary Share on 4 March 2024.

 

250,000 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. No Scheme Shares have been issued to
directors of the Company.

 

Separately, 2,455,493 new Ordinary Shares have been issued, also at the Issue
Price, to certain non-executive directors of the Company as payment in lieu of
fees ("Fee Shares"), as detailed in the table below. In accordance with the
terms of their employment contracts, Helmut Gierse and Antonio Bossi have both
been issued Fee Shares in lieu of their respective director fees for the 12
month period ending 31 January 2024.

 

                                             Resulting holding
 Director       Scheme Shares  Fee Shares    Ordinary Shares held  As a percentage of the enlarged share capital  Options held
 Helmut Gierse  -              1,840,108     10,755,005            0.65%                                          1,350,000
 Antonio Bossi    -               615,385    1,206,812             0.07%                                          -

 

Lastly, 67,947,908 new Ordinary Shares (the "Interest Shares") have today been
issued, at the Issue Price, 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 £2,208,307 of
interest accrued under the Falih Nahab Facility for the six months ended 31
December 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. 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 68,563,293 new Ordinary Shares, comprising the
Fee Shares to be issued to Antonio Bossi and the Interest Shares, to be
admitted to trading on AIM ("Admission") and Admission is expected to take
effect on or around 11 March 2024.

 

A subsequent application will be made for the Fee Shares to be issued to
Helmut Gierse and the Scheme Shares to be admitted to trading on AIM in due
course ("Second Admission") once the registration details for the recipients'
German share trading accounts have been confirmed and a further announcement
will be made at the appropriate time.

 

Following Admission, the Company's issued share capital will comprise
1,659,660,938 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 485,305,797 Ordinary Shares,
representing 29.24% 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 53.97% of the enlarged issued share
capital following Admission.

 

For further information:

 

 Proton Motor Power Systems Plc
 Dr Faiz Nahab, CEO
 Roman Kotlarzewski, CFO                              +49 (0) 173 189 0923
                                                      www.protonpowersystems.com
 Allenby Capital Limited
 Nominated Adviser & Broker                           +44 (0) 20 3328 5656
 James Reeve / Vivek Bhardwaj

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

 

About Proton Motor

 

Proton Motor has 25 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 develops
and produces standard Products as well as customised solutions.  The focus of
Proton Motor is on stationary solutions, as well as mobile, marine and rail
applications.  The product portfolio consists of base-fuel cell systems,
standard complete, as well as customised 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).

 

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                                                         Helmut Gierse  Non-Executive Chairman
                                                                    Antonio Bossi  Non-Executive Director
 2.    Reason for the Notification
 a)    Position/status                                              See 1a) above
 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 each in Proton Motor Power Systems Plc

       Identification code                                          ISIN: GB00BP83GZ24
 b)    Nature of the transaction                                    Fee Shares

 c)    Price(s) and volume(s)                                       Name           Price(s)    Volume(s)
                                                                    Helmut Gierse  3.25 pence  1,840,108
                                                                    Antonio Bossi  3.25 pence  615,385

 
 d)    Aggregated information:
       -  Aggregated volume                                         2,455,493
       -  Price                                                     3.25 pence
 e)    Date of the transaction                                      5 March 2024
 f)    Place of the transaction                                     Outside a trading venue

2.

Reason for the Notification

a)

Position/status

See 1a) above

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 each in Proton Motor Power Systems Plc

 

Identification code

ISIN: GB00BP83GZ24

b)

Nature of the transaction

Fee Shares

 

c)

Price(s) and volume(s)

 Name           Price(s)    Volume(s)
 Helmut Gierse  3.25 pence  1,840,108
 Antonio Bossi  3.25 pence  615,385

 

d)

Aggregated information:

-  Aggregated volume

2,455,493

-  Price

3.25 pence

e)

Date of the transaction

5 March 2024

f)

Place of the 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  IOESSUFMIELSEFD