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 : 9330D AFC Energy Plc 03 May 2013 \n\n3 May 2013\n \nAFC Energy PLC\n(\"AFC Energy\" or the \"Company\")\n \nGrant of options under sharesave scheme\n \nAFC Energy announces that on 3 May 2013 the Company granted options over a total of 610,354 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. The Company is pleased to report a 69 per cent take up by employees following the first round of invitations.\n \nThe Options are exercisable at a price of 22 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 (5 April 2013). The Options are exercisable on 1 June 2016 in accordance with the rules of the Scheme.\n \nThe grant of options represents, in aggregate, 0.27 per cent of the Company's existing issued share capital. Following the issue, there will be 9,560,354 options and 9,506,000 warrants in issue, representing 7.93 per cent of the fully diluted share capital of the Company.\n \nThe Company also advises that 40,909 of the Options have been granted to each of Ian Williamson, AFC's Chief Executive Officer and Gene Lewis, its Technical Director. Following this grant of options, Ian Williamson and Gene Lewis will each hold 40,909 Options under the Scheme.\n \nFor further information, please contact:\n \n\n\n\n\nAFC Energy plc\nIan Williamson, Chief Executive\nIan Balchin, Deputy Chairman\nDavid Marson, Finance Director & Company Secretary\n\n\n+44 (0)1483 276726\n\n\n\n\n\n\n\n\n\n\n\n\nLuther Pendragon\n\n\n+44 (0)207 618 9100\n\n\n\n\nNeil Thapar\nAlexis Gore\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeat & Co. - Corporate Broker\n\n\n+44 (0)20 7104 2334\n\n\n\n\nCharlie Peat\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAllenby Capital Limited\nJeremy Porter\nJames Reeve\n\n\n+44 (0)20 3328 5656\n\n\n\n\n \nAbout AFC Energy\n \nFounded in 2006, AFC Energy plc is re-engineering proven alka...