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PINEAPPLE POWER CORPORATION PLC
Director's Dealing • Feb 8, 2021
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Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 2355O
Pineapple Power Corporation PLC
08 February 2021
08 February 2021
Pineapple Power Corporation PLC
("Pineapple" or the "Company")
Grant of Options
Pineapple Power Corporation PLC, traded on the Standard Market segment of the London Stock Exchange under the symbol PNPL, announces the grant of options over new ordinary shares of 0.01p each in the Company ("Options").
A total of 6,000,000 Options have been awarded to Directors and Advisors involved in the continuing advancement of the Company's goal to complete a reverse take-over transaction in the renewable energy sector.
The Options have an exercise price of 11p per Ordinary Share. The Options vest and are exercisable 6 months from the date of grant and expire in two years from the date of grant. The Options granted represent approximately 10 per cent of the Company's current issued share capital. The exercise price is equal to the closing price of the shares on the LSE on February 5, 2021. The Options have been granted in the amounts set out below:
| Name | Position Held | No. of Options granted |
| Claudio Morandi | Non-executive Director | 1,250,000 |
| Andrew Holland | Non-executive Director | 1,250,000 |
| Clive de Larrabeiti | Corporate Finance Advisor | 1,250,000 |
| Peter Mills | Corporate Administrator | 1,250,000 |
| Richard Offer | Corporate Finance Advisor | 500,000 |
| Ryan Reynolds | Financial Advisor | 500,000 |
| 6,000,000 |
Claudio Morandi, Director stated -
"The Board is committed to pursuing acquisition opportunities and completing a reverse takeover in the renewable or clean energy sector. The grant of these options further aligns our interests with our shareholders. We are pleased with our progress to date and welcome the positive interest in our company exhibited by our share price and trading liquidity and we are focusing on continuing this progress for the benefit of all our stakeholders."
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the requirements of the Market Abuse (Amendment) (EU exit) Regulations 2019/310 are set out here.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Claudio Morandi | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Non-Executive Director | |||
| b) | Initial notification /Amendment | Initial Notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Pineapple Power Corporation PLC | |||
| b) | LEI | 213800BTD7JL99MTGQ68 | |||
| 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 0.01 pence each | |||
| Identification code | GB00BD0SN947 | ||||
| b) | Nature of the transaction | Grant of options | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| Exercise price of Nil per Option - £0.10 | 1,250,000 | ||||
| d) | Aggregated information | N/A | |||
| - Aggregated volume | |||||
| - Price | |||||
| e) | Date of the transaction | 5 February 2021 | |||
| f) | Place of the transaction | London Stock Exchange |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Andrew Holland | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Non-Executive Director | |||
| b) | Initial notification /Amendment | Initial Notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Pineapple Power Corporation PLC | |||
| b) | LEI | 213800BTD7JL99MTGQ68 | |||
| 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 0.01 pence each | |||
| Identification code | GB00BD0SN947 | ||||
| b) | Nature of the transaction | Grant of options | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| Exercise price of Nil per Option £0.10 | 1,250,000 | ||||
| d) | Aggregated information | N/A | |||
| - Aggregated volume | |||||
| - Price | |||||
| e) | Date of the transaction | 5 February 2021 | |||
| f) | Place of the transaction | London Stock Exchange |
For further information please contact -
| Pineapple Power Corporation PLC | |
| Claudio Morandi - Director Clive de Larrabeiti Corporate Finance Advisor [email protected] |
+44 203 039 3913 +44 797 317 7973 |
| Joint Corporate Broker Peterhouse Capital Charles Goodfellow [email protected] Joint Corporate Broker Axis Capital Markets Richard Hutchison [email protected] |
+44 207 220 9791 +44 203 026 0320 |
| Media Relations | |
| David Burton Total Market Solutions [email protected] |
|
| Tancredi Intelligent Communications Salamander Davoudi [email protected] Helen Humphrey [email protected] |
+44 795 754 9906 +44 744 922 6720 |
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