Issue of Equity

RNS Number : 0321Z

AFC Energy Plc

05 December 2014

 

AFC Energy PLC

("AFC Energy" or "the Company")

Issuance of Shares

AFC Energy (AIM: AFC), the industrial fuel cell power company, has agreed to issue Ordinary Shares in the Company in lieu of professional fees.

The consultant will be issued 150,000 Ordinary Shares in the Company at par value immediately and, subject to satisfactory performance, a further 150,000 Ordinary Shares in the Company at par value on 1 March 2015.       

Application has been made to the London Stock Exchange for the first tranche of 150,000 shares to be admitted to trading at 8am on Thursday 11 December 2014. Subject to the second tranche becoming due, application to the London Stock Exchange for the second tranche of 150,000 shares to be admitted to trading will be made in due course.    

Following admission of the first tranche of shares, the total number of ordinary shares and voting rights in the Company will be 286,833,534. The Company does not hold any shares in treasury. 

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

AFC Energy plc Christopher Tawney (Finance Director)	[phone]
Zeus Capital Limited - Nominated Adviser and Joint Broker Dan Bate, John Depasquale (Corporate Finance)                       Alex Davies, John Goold (Institutional Sales)	[phone]
M C Peat & Co LLP - Joint Broker Charlie Peat	[phone]
Lionsgate Communications - Public Relations Jonathan Charles, Rachel Rigby	[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 platinum free, advanced 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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