REG - Proton Motor Power - Key person stock award scheme

Proton Motor Power SystemsAnnouncement

15/07/2022 16:45

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RNS Number : 7057S  Proton Motor Power Systems PLC  15 July 2022

15 July 2022

 

Proton Motor Power Systems plc

("Proton" or the "Company")

 

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 that it has today agreed to issue 425,000 new
ordinary shares of 0.5 pence each in the capital of the Company ("Ordinary
Shares") under the terms of the Company's Key Person Stock Award scheme (the
"Scheme"), at an issue price of 9.13 pence per Ordinary Share (the "Issue
Price").

 

The issue of these 425,000 Ordinary Shares relates to awards to eligible
employees that were invited to subscribe for Ordinary Shares under the Scheme
in 2021. However, as a result of difficulties in the transfer of Ordinary
Shares to German share accounts at that time due to Brexit, the issuance of
these shares has been deferred to 2022. This issuance of these Ordinary Shares
is the first of two tranches of Ordinary Shares to be issued to eligible
employees in respect of 2021 awards under the Scheme. A further announcement
will be made on issuance of the second tranche of shares. None of the
recipients of this first tranche are directors of the Company.

 

A further 50,000 new Ordinary Shares have been allotted at an issue price of
9.13 pence per Ordinary Share (the "Issue Price") as payment for advisory
services provided by an external consultant. In total, 475,000 new Ordinary
Shares have been issued by the Company.

 

Application for admission to trading and total voting rights

 

Application has been made for 475,000 new Ordinary Shares to be admitted to
trading on AIM, which is expected to take effect on or around 21 July 2022
("Admission").

 

Following Admission, the Company's issued share capital will comprise
1,552,017,675 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.

 

For further information:

 

 Proton Motor Power Systems Plc
 Dr Faiz Nahab, CEO
 Helmut Gierse,
 Chairman
 Roman Kotlarzewski, CFO                                                                                                                                                                                +49 (0) 173 189 0923
 Antonio Bossi, Non-Executive Director
 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

 

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 serves IT, Telecoms, public infrastructure and healthcare
customers in Germany, Europe and Middle East with power supply solutions for
DC and AC power demand. In addition to power supply, SPower also offers
solutions for Solar Systems as well as a new product line for Solar Energy
Storage.

 

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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