Awards under Long-Term Incentive Plan

Active Energy Group PLC
19 July 2023
 

 

19 July 2023

Active Energy Group Plc

("Active Energy" or the "Company")

 

Awards under the Company's Long-Term Incentive Plan

 

Active Energy (AIM: AEG, OTCQB: ATGVF) the international biomass based renewable energy business, announces awards under the Company's new long-term incentive plan (the "LTIP").  The LTIP, which was approved by the Company's shareholders at the annual general meeting held on 11 July 2023, has been designed to incentivise the Company's Directors and members of the Company's senior management team (together the "Participants").

 

The LTIP has been established to promote long-term value creation for Active Energy's shareholders and to align the interests of the Participants with shareholders. Awards under the LTIP take the form of premium priced options over the Company's ordinary shares of 0.35 pence each (the "Ordinary Shares").  Once exercised, the Participants are required to hold the Ordinary Shares issued to them for a minimum period of six months. The LTIP allows for up to 12% of the Company's issued share capital from time to time to be allocated to Participants.

 

Initial LTIP awards

The Company has today granted options over 8,283,840 Ordinary Shares to certain Participants (the "Options") under the LTIP.  The Options have been granted in three tranches, with each tranche having a different vesting period and exercise price, as follows:

 

·      3,594,470 Options have an exercise price of 8.3 pence per Ordinary Share (which represents a circa 35% premium to the closing mid-market price of an Ordinary Share on 18 July 2023, the date prior to grant) and vest immediately ("Tranche 1");

 

·      2,344,685 Options have an exercise price of 10 pence per Ordinary Share (which represents a circa 20% premium over the Tranche 1 exercise price) and vest on 18 July 2024 ("Tranche 2"); and  

 

·      2,344,685 Options have an exercise price of 12 pence per Ordinary share (which represents a circa 20% premium over the Tranche 2 exercise price) and vest on 18 July 2025 ("Tranche 3").

 

All of the Options expire ten years from the date of grant and are subject to additional performance related vesting criteria. In total, the Options represent 5.12% of the Company's current issued Ordinary Shares and, when taken with the existing options and warrants over Ordinary Shares, the Company will have options and warrants outstanding over 8.26% of the Company's issued share capital.

 

Director and PDMR grants

A total of 3,354,470 Options have been awarded to Directors of Active Energy and persons discharging managerial responsibilities (as defined in UK MAR) ("PDMRs"):

 

Director / PDMR

Tranche 1 Options awarded

Tranche 2 Options awarded

Tranche 3 Options awarded

Total Options awarded

Total number of Options and warrants held now

James Leahy, Chairman 

240,000

80,000

80,000

400,000

400,000

Michael Rowan, CEO

1,294,906

971,178

971,178

3,237,262

5,623,855

Max Aitken, NED

60,000

20,000

20,000

100,000

239,360

Jason Zimmermann, NED

60,000

20,000

20,000

100,000

239,360

Michelle Fagan, CFO

404,658

202,329

202,329

809,316

843,312

Steve Schaar, COO

647,453

485,589

485,589

1,618,631

1,618,631

Barron Hewetson, CTO

647,453

485,589

485,589

1,618,631

1,618,312

 

ENDS

 

 

Enquiries: 

Active Energy Group Plc

Michael Rowan (Chief Executive Officer)

Michelle Fagan (Chief Financial Officer)

  info@aegplc.com

Allenby Capital Limited

Nominated Adviser and Broker

Nick Naylor/James Reeve/Daniel Dearden-Williams (Corporate Finance)

Amrit Nahal (Sales/Corporate Broking)

Office: +44 (0)20 3328 5656

Camarco

Financial PR Adviser

Tom Huddart / Emily Hall / Lily Pettifar

aeg@camarco.co.uk

Office: +44 (0)20 3757 4980

Scoville PR

US PR Adviser

John Williams

aeg@camarco.co.uk

 

Website

LinkedIn

 Twitter

www.aegplc.com

www.linkedin.com/company/activeenergy

 

 https://twitter.com/aegplc

@aegplc

 

 

About Active Energy Group:

 

Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels. Its patented product CoalSwitch® is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring significant plant modification. Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch®.

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Leahy

Chairman



2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

 Active Energy Group plc

b)

LEI

213800P9PW3HJ5YJRK43

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

Identification code

Options over ordinary shares of GBP0.0035 each in Active Energy Group plc

 

Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

240,000

8.3 pence

80,000

10 pence

80,000

12 pence

d)

Aggregated information

- Aggregated volume

- Price

400,000

n/a

e)

Date of the transaction

18 July 2023

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michael Rowan

CEO



2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

 Active Energy Group plc

b)

LEI

213800P9PW3HJ5YJRK43

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

Identification code

Options over ordinary shares of GBP0.0035 each in Active Energy Group plc

 

Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

1,294,906

8.3 pence

971,178

10 pence

971,178

12 pence

d)

Aggregated information

- Aggregated volume

- Price

3,237,262

n/a

e)

Date of the transaction

18 July 2023

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Max Aitken

Non-Executive Director



2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

 Active Energy Group plc

b)

LEI

213800P9PW3HJ5YJRK43

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

Identification code

Options over ordinary shares of GBP0.0035 each in Active Energy Group plc

 

Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

60,000

8.3 pence

20,000

10 pence

20,000

12 pence

d)

Aggregated information

- Aggregated volume

- Price

100,000

n/a

e)

Date of the transaction

18 July 2023

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jason Zimmermann

Non-Executive Director



2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

 Active Energy Group plc

b)

LEI

213800P9PW3HJ5YJRK43

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

Identification code

Options over ordinary shares of GBP0.0035 each in Active Energy Group plc

 

Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

60,000

8.3 pence

20,000

10 pence

20,000

12 pence

d)

Aggregated information

- Aggregated volume

- Price

100,000

n/a

e)

Date of the transaction

18 July 2023

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michelle Fagan

Chief Financial Officer



2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

 Active Energy Group plc

b)

LEI

213800P9PW3HJ5YJRK43

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

Identification code

Options over ordinary shares of GBP0.0035 each in Active Energy Group plc

 

Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

404,658

8.3 pence

202,329

10 pence

202,329

12 pence

d)

Aggregated information

- Aggregated volume

- Price

809,316

n/a

e)

Date of the transaction

18 July 2023

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Steve Schaar

Chief Operating Officer



2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

 Active Energy Group plc

b)

LEI

213800P9PW3HJ5YJRK43

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

Identification code

Options over ordinary shares of GBP0.0035 each in Active Energy Group plc

 

Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

647,453

8.3 pence

485,589

10 pence

485,589

12 pence

d)

Aggregated information

- Aggregated volume

- Price

1,618,631

n/a

e)

Date of the transaction

18 July 2023

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Barron Hewetson

Chief Technical Officer



2

Reason for the notification

a)

Position/status

See 1a)

b)

 

Initial notification /Amendment

Initial notification

3

 

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

a)

Name

 Active Energy Group plc

b)

LEI

213800P9PW3HJ5YJRK43

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

Identification code

Options over ordinary shares of GBP0.0035 each in Active Energy Group plc

 

Identification code (ISIN) for First Property Group plc ordinary shares: GB00BPG7NS80

b)

Nature of the transaction

Grant of options over ordinary shares

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

647,453

8.3 pence

485,589

10 pence

485,589

12 pence

d)

Aggregated information

- Aggregated volume

- Price

1,618,631

n/a

e)

Date of the transaction

18 July 2023

f)

Place of the transaction

Outside a trading venue

 

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