Business
Grant of options under sharesave scheme
Grant of options under sharesave scheme.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 8048N AFC Energy Plc 31 July 2014 \n \n\n31 July 2014\n \nAFC Energy Plc\n (\"AFC Energy\" or \"the Company\")\n \n Grant of options under sharesave scheme\n \n \nAFC Energy, the industrial fuel cell power company, announces that on 30 July 2014 the Company granted options over a total of 655,928 new ordinary shares of 0.1 pence each in the Company (\"Ordinary Shares\") (the \"Options\").\n \nThe Options have been granted to participating employees under the rules of the AFC Energy Plc Sharesave Scheme (the \"Scheme\"). The Scheme is an all-employee share option scheme, which was approved by the UK Revenue and Customs and which was introduced to encourage wider employee share ownership of the Company.\n \nThe Options are exercisable at a price of 18.6 pence per Ordinary Share, being a 20 per cent discount to the market value of the Company's shares on the dealing day immediately prior to the date of invitation to apply for options (2 July 2014). The Options are exercisable from 1 September 2017 in accordance with the rules of the Scheme.\n \nThe grant of options represents, in aggregate, 0.29 per cent of the Company's existing issued share capital. Following the issue, there will be 9,399,018 options and 7,047,800 warrants in issue, representing 6.8 per cent of the fully diluted share capital of the Company.\n \nThe Company also advises that 48,387 of the Options have been granted to Ian Williamson, AFC Energy's Chief Executive Officer and 38,709 have been granted to Gene Lewis, AFC Energy's Technical Director. Following this grant of options, Ian Williamson will hold 89,296 Options under the scheme and Gene Lewis will hold 79,618 of Options under the Scheme.\n \nFor further information, please contact:\n \nAFC Energy plc\nIan Williamson, Chief Executive &nb...