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AFC Energy plc (LON:AFC)

AFC Energy plc (LON:AFC)

Share Price
5.88 p
-0.455 (-7.19 %)
Market Cap
£23.01 m
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AFC Energy plc RNS Release

Issue of Equity and Director Dealing

RNS Number : 1920O
AFC Energy Plc
17 August 2017

17 August 2017


AFC Energy PLC


("AFC Energy" or the "Company")



Issue of Equity and Director Dealing


AFC Energy (AIM: AFC), the industrial fuel cell power company, announces that application has been made for the issue of 350,000 ordinary shares of 0.1 pence each ("Ordinary Shares") to Mitchell Field, Non-Executive Director of the Company.

The Ordinary Shares are being issued pursuant to an exercise of warrants under the AFC Deed of Warrant 2009 at an exercise price of 3.13 pence per share.

Following the issue of Ordinary Shares, Mitchell Field will hold an increased interest of 3,311,132 Ordinary Shares, representing approximately 0.85% of the issued share capital of the Company.

The 350,000 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 Ordinary Shares to be admitted to trading which is expected to commence at 8.00 a.m. on 22 August 2017 ("Admission").

Following Admission, the total issued share capital of the Company consists of 391,298,205 Ordinary Shares, none of which are held in treasury. Accordingly, following Admission, the total number of voting rights in the Company will be 391,298,205. This figure may be used by shareholders as the denominator by which they can 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) 20 3697 1209

Cantor Fitzgerald Europe Nominated Adviser and Joint Broker

Andrew Craig

Richard Salmond 



+44 (0) 20 7894 7000

M C Peat & Co LLP Joint Broker

Charlie Peat


+44 (0) 20 7104 2334

Lionsgate Communications Public Relations

Jonathan Charles



+44 (0) 20 3697 1209

About AFC Energy


AFC Energy plc has developed and successfully demonstrated an alkaline fuel cell system, which converts hydrogen into "clean" electricity. AFC Energy's key project POWER-UP demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany. The Company is now looking to build upon an already established pipeline of commercial opportunities and drive the findings from the development phase of the technology into a technically optimised and commercially relevant fuel cell system.  For further information, please visit our website:



Appendix - PDMR Dealing Disclosure:


Details of the person discharging managerial responsibilities / person closely associated



Mitchell Field


Reason for the Notification



Non-Executive Director


Initial notification/Amendment

Initial Notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



AFC Energy plc





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


Description of the Financial instrument, type of instrument

Ordinary Shares of 0.1 pence each

Identification code



Nature of the transaction

Exercise of Options


Price(s) and volume(s)



3.13 pence

350,000 (bought)


Aggregated information:

·     Aggregated volume

·     Price

350,000 ordinary shares of 0.1 pence each bought at 3.13 pence each


Date of the transaction

16 August 2017


Place of the transaction

London Stock Exchange, AIM Market (XLON)


This information is provided by RNS
The company news service from the London Stock Exchange

AFC Energy plc Timeline

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