AFC ENERGY PLC — Major Shareholding Notification 2017

Mar 13, 2017

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RNS Number : 2134Z

AFC Energy Plc

13 March 2017

13 March 2017

AFC Energy PLC

("AFC Energy" or the "Company")

Notification of Major Interest in Shares - Schroders  

AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to confirm receipt of a "TR-1 - Notification of Major Interest in Shares" from Schroders Investment Management Ltd ("Schroders") notifying the Company of Schroder's new 8.441% interest in AFC Energy.  Schroders were the largest single investor in the Company's recent £6m placement with a £3.3m investment in AFC Energy. 

Adam Bond, AFC Energy's Chief Executive Officer, said: "We are delighted to welcome onto AFC Energy's shareholder register one of the UK's largest and most well regarded and respected institutional investors.  This investment signifies confidence in the business and its strategy, further demonstrating the material technical and commercial progress AFC Energy is making, together with the pipeline of projects we continue to progress and hope to consolidate throughout the course of 2017."     

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 in January 2016.  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: ww.afcenergy.com

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii			AFC Energy plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights				ü
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):	Type 1 disclosure as per Transparency Directive II Regulation			ü
3. Full name of person(s) subject to the notification obligation: iii		Schroders plc & Schroder Investment Management Limited
4. Full name of shareholder(s) (if different from 3.):iv
5. Date of the transaction and date on which the threshold is crossed or reached: v		09.03.17
6. Date on which issuer notified:		10.03.17
7. Threshold(s) that is/are crossed or reached: vi, vii		Above 5%

8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction						Resulting situation after the triggering transaction
Number of Shares			Number of Voting Rights			Number of shares		Number of voting rights			% of  voting rights x
Direct		Direct xi		Indirect xii	Direct			Indirect
Ordinary GB00B18S7B29	Below 5%			Below 5%			33,000,000		N/A		33,000,000	N/A			8.441%
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument			Expiration date xiii		Exercise/ Conversion Period xiv					Number of voting rights that may be acquired if the instrument is exercised/ converted.				% of voting rights
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument		Exercise price		Expiration date xvii		Exercise/ Conversion period xviii		Number of voting rights instrument refers to					% of voting rights xix, xx
													Nominal			Delta
Total (A+B+C)
Number of voting rights								Percentage of voting rights
33,000,000								8.441%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
Schroder Investment Management Limited                               33,000,000               8.441%
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:	The shares referred to in section 9 are held in portfolios managed by those firms on a discretionary basis for clients under investment management agreements. This disclosure has been calculated based on issue share capital amount 390,948,205.
14. Contact name:	Chloe Talbot
15. Contact telephone number:	020 7658 6000

This information is provided by RNS

The company news service from the London Stock Exchange

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