AFC ENERGY PLC

Director's Dealing • Jul 25, 2022

National Storage Mechanism | Additional information

RNS Number : 5243T

AFC Energy Plc

25 July 2022

25 July 2022

AFC Energy Plc

("AFC Energy" or the "Company")

Exercise of Share Options and Total Voting Right

AFC Energy (AIM: AFC) (the "Company"), announces the following share transaction carried out by a Director and person discharging managerial responsibilities (PDMRs) on 21 July 2022.

Adam Bond (Chief Executive Officer) was previously granted 2,250,000 nil cost options under a transitional award of the Performance Share Plan.  At 30 March 2022, 583,169 ordinary shares were deemed to have vested, all of which are now being exercised and shall be retained, with all costs and income taxes arising from the transaction being borne by the beneficiary.

541,831 options under the 2022 transitional award performance test have lapsed. 

An application has been made for 583,169 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") to be admitted to trading on AIM. The New Ordinary Shares will rank pari passu with the Company's existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on 28 July 2022.

	Options exercised	Shares sold	Weighted average exercise price	Sale price	Options remaining after exercise	Current shareholding
2022 PSP  transitional award vesting	583,169	0	0	n/a	1,125,000	583,169

As at 25 July 2022, the Company's issued share capital comprised of 735,237,837 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares and voting rights in the Company is therefore 735,237,837.

This figure may be used by shareholders in the Company as the denominator for the calculations by which the will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

For further information, please contact:

AFC Energy plc Gerry Agnew (Chairman Remuneration Committee) Ben Bradshaw (Head of Marketing)	+44 (0) 14 8327 6726 investors@afcenergy.com
Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Tom Ballard / Alexander Allen	+44 (0) 207 418 8900
M C Peat & Co LLP - Joint Broker Charlie Peat	+44 (0) 20 7104 2334
Zeus - Joint Broker Daniel Harris/ James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)	+44 (0) 203 829 5000
FTI Consulting - Financial PR Advisors Ben Brewerton / Nick Hennis / Dhruv Soni	+44 (0) 203 727 1000 afcenergy@fticonsulting.com

Notification of Dealing Form:

1

Details of the person discharging managerial responsibilities / person closely associate

a)

Name

Adam Bond

2

Reason for the notification

a)

Position/status

CEO

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

AFC Energy Plc

b)

LEI

213800SRJST19GNS9U35

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

Ordinary Shares of 0.1 pence each in the Company ("Shares")

Identification code

ISIN: GB00B18S7B29

b)

Nature of the transaction

Exercise of nil cost share options under the Performance Share Plan.

c)

Price(s) and volume(s)

Price per share	Volume
£0.001	583,169

d)

Aggregated Information

Volume

Exercise price

n/a single transaction

583,170

e)

Date of transaction

21 July 2022

f)

Place of transaction

London Stock Exchange

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