Exercise of Options
25 November 2020
AFC Energy PLC
("AFC Energy" or the "Company")
Exercise of Options
AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, announces that, under the AFC Share Option Scheme, employees have exercised options over 55,000 new ordinary shares of 0.1 pence each in the share capital of the Company ("Ordinary Shares") at an exercise price of 8.8 pence per Ordinary Share.
The 55,000 new Ordinary Shares will rank pari passu with the Company's existing ordinary share capital and application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading which is expected to commence at 8.00 a.m. on or around 1 December 2020 ("Admission").
Following Admission, the Company's total issued share capital will consist of 676,061,310 Ordinary Shares, none of which are held in treasury. Accordingly, following Admission, the total number of voting rights in the Company will be 676,061,310. This figure may be used by shareholders 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 Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact:
AFC Energy plc
Adam Bond (Chief Executive Officer)
+44 (0) 14 8327 6726
WH Ireland - Nominated Adviser and Joint Broker
Mike Coe (Corporate Finance)
Jasper Berry (Corporate Broking)
+44 (0) 117 945 3470
M C Peat & Co LLP - Joint Broker
+44 (0) 20 7104 2334
Zeus Capital Limited - Joint Broker
Daniel Harris (Corporate Finance)
John Goold/Dominic King (Corporate Broking)
+44 (0) 203 829 5000
Tuva Partners - Public Relations
+44 (0) 7900 205 460
About AFC Energy
AFC Energy plc is commercialising a scalable alkaline fuel cell system, to provide clean electricity for on and off grid applications. The technology, pioneered over the past twelve years in the UK, is now being deployed in electric vehicle chargers, off-grid decentralised power systems and industrial gas plants as part of a portfolio approach to the decarbonisation of local electricity needs.