Director Share Dealing

RNS Number : 4770D

AFC Energy Plc

29 April 2013

 



29 April 2013

AFC Energy PLC

("AFC Energy" or the "Company")

Director Share Dealing

AFC Energy plc (AIM: AFC) announces that today, 29 April 2013, Eugene Shvidler ("Purchaser"), a non-executive director of the Company, purchased 9,507,517 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 26 pence per Ordinary Share. The shares were sold by Ervington Investments Ltd ("Ervington") whose holding as a result has decreased to 24,087,265 ordinary shares in the Company, equivalent to 10.88 per cent. of AFC Energy's total issued shares capital and voting rights.  The Purchaser has signed a Deed of Adherence to the Ervington lock-in and orderly market agreement with AFC Energy, such that the Purchaser cannot dispose of the Ordinary Shares within 12 months of the original Ervington subscription (11 October 2012) and for a further 12 months can only dispose of any Ordinary Shares in such manner so as to maintain an orderly market in the Company's shares.

Director Shareholding

Following this transaction, Eugene Shvidler is interested in 12,043,633 Ordinary Shares representing approximately 5.44 per cent. of the Company's total issued share capital and voting rights.

For further information, please contact:

AFC Energy plc Ian Williamson, Chief Executive Ian Balchin, Deputy Chairman David Marson, Finance Director & Company Secretary	[phone]
Luther Pendragon	[phone]
Neil Thapar Alexis Gore
Peat & Co. - Corporate Broker	[phone]
Charlie Peat
Allenby Capital Limited Jeremy Porter James Reeve	[phone]

About AFC Energy

Founded in 2006, AFC Energy plc is re-engineering proven alkaline fuel cell technology to reduce the cost of electricity. Alkaline fuel cells have been used on US and Russian manned space missions for decades to provide electrical power and drinking water. By using modern materials, design tools and manufacturing processes at scale, AFC Energy is developing fuel cells that will compete with conventional technologies such as turbines for electrical power generation. Today, AFC Energy is pursuing opportunities in several sectors where hydrogen is readily available including the chlorine, clean coal and waste-to-energy industries as well as applications for distributed/back-up power. For further information, please visit our website: www.afcenergy.com.

 

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