Issue of Share Options and PDMR notification
07/10/2024 15:37
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RNS Number : 2310H Time To ACT PLC 07 October 2024
7 October 2024
Time To ACT plc
("Time To ACT", "the Company" or "the Group")
Issue of Share Options and PDMR notification
Time To ACT plc (AQSE: TTA), an engineering-led group focused on technology
for the energy transition supply chain, announces that it has granted 504,933
share options ("Options") over the Company's ordinary shares of £0.01 each
("Ordinary Shares") under the Company's Enterprise Management Incentive Share
Option Programme to certain directors and employees of the Company.
368,000 Options were granted to Directors as follows :
· 200,000 Options to Gary Wallace, Chief Financial Officer
· 150,000 to Jason Moody, Chief Operating Officer.
· The Non-Executive Directors, Andrew Hall and Rich Furniss were issued
12,000 and 6,000 respectively.
The Options granted are exercisable at 50p per Ordinary Share (being the price
of the Initial Public Offering on 29 May 2024). The vesting period is one year
from the date of grant and they expire ten years from the date of grant.
This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).
The Directors of the Company take responsibility for this
announcement.**ENDS**
For more information, please visit investors.timetoactplc.com/announcements
(https://investors.timetoactplc.com/announcements) or contact the following:
Time To ACT plc Tel: +44 (0) 1642 967138
Chris Heminway, Executive Chairman Email: crh@timetoactplc.com
Gary Wallace, Chief Financial Officer Email: gw@timetoactplc.com
Novum Securities Limited, AQSE Corporate Advisor Tel: +4420 7399 9400
David Coffman, Daniel Harris, George Duxberry
Oberon Capital, Corporate Broker Tel: +44 203 179 5300
Nick Lovering, Adam Pollock, Mike Seabrook
St Brides Partners Ltd, Financial PR Tel: 020 7236 1177
Ana Ribeiro / Paul Dulieu Email: timetoact@stbridespartners.co.uk
Subscribe to our news alert service:
https://investors.timetoactplc.com/auth/signup
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About Time To ACT plc
Time To ACT plc is an engineering-led group focused on technology for the
energy transition supply chain. It currently has two principal operating
businesses: Diffusion Alloys and GreenSpur. As the parent company of the
Group, Time To ACT provides strategic and operational support to the operating
companies and capital to enable their growth.
About GreenSpur
GreenSpur is an intellectual property creator and generator designer that has
developed a credible solution for renewable energy applications to the Rare
Earth magnet problem.
Magnets constructed using Rare Earth Elements (REEs) are fundamental
components in electrical generators and electric vehicle motors which are
critical to delivering the clean energy transition. However, there are
substantial supply chain constraints and risks in the sourcing of REEs that
are needed for these magnets.
GreenSpur's generator design eliminates the need for Rare Earth magnets and
copper coils without any loss in electrical performance.
About Diffusion Alloys
Diffusion Alloys supplies diffusion coatings. A diffusion coating is an
intermetallic layer that protects metal components from degradation at high
temperatures and in highly corrosive environments, such as those found in
hydrogen and nuclear energy generation.
Diffusion Alloys has joined forces with Johnson Matthey plc, the market
leaders in synthesis gas ("syngas") with a significant pipeline of Blue
Hydrogen projects, to scale-up production and address the increasing demand
for low carbon hydrogen used to reduce global carbon emissions.
In addition to working for numerous historic and existing customers, the
Directors believe that Diffusion Alloys is the only credible diffusion coater
in the world for blue hydrogen components, has already been coating in volume
for a leading European vendor in the green hydrogen space and is also in
pre-commercial discussions with new cleantech equipment manufacturers.
Diffusion Alloys has two distinct areas of focus:
· Coating Technology: Selling technical excellence in coating capability
supported by the concept of
"flexible capacity" - the ability to provide customers with capacity wherever
they need it, whether for
the coating of Large Parts or Small Parts.
· Coating Services: Plant-led coatings business centred on its Middlesbrough
site.
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: 1) Gary Wallace
2) Jason Moody
3) Andrew Hall
4) Rich Furniss
2. Reason for the notification
a) Position/status: 1) CFO
2) COO
3) NED
4) NED
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name: Time To ACT plc
b) LEI: 2138009OCGXGOECVYL62
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: Options over Ordinary shares of 1 pence each
Identification code: ISIN Code: GB00BP2BXN97
b) Nature of the transaction: Grant of Options
c) Price(s) and volume(s): Price(s) Volume(s)
1) 50p 200,000
2) 50p 150,000
3) 50p 12,000
4) 50p 6,000
d) Aggregated information:
· Aggregated volume: 368,000
· Price: 50p
e) Date of the transaction: 4 October 2024
f) Place of the transaction: Outside of a trading venue
d)
Aggregated information:
· Aggregated volume:
· Price:
368,000
50p
e)
Date of the transaction:
4 October 2024
f)
Place of the transaction:
Outside of a trading venue
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