Completion of Lanstead Agreement

RNS Number : 8457V

AFC Energy Plc

21 April 2016

 

21 April 2016

AFC Energy PLC

("AFC Energy" or the "Company")

Completion of Lanstead Equity Swap Agreement

AFC Energy (AIM: AFC), the industrial fuel cell power company, wishes to announce the completion of the equity swap agreement (the 'Agreement') entered into with Lanstead Capital LLP ('Lanstead') in October 2014.

The Company entered into a combined placing and equity swap agreement with Lanstead on 8 October 2014 in the amount of £2.2 million.  All 18 settlements of the equity swap agreement have now been completed, with the Company having received a total of £4.7 million from the placing and agreement.

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	[phone]
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker Andrew Craig Richard Salmond	[phone]
M C Peat & Co LLP - Joint Broker Charlie Peat	[phone]
Lionsgate Communications - Public Relations Jonathan Charles Rachel Rigby	[phone]

About AFC Energy

AFC Energy plc has developed and successfully operated an alkaline fuel cell system ("KORE"), 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: www.afcenergy.com

 

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