Launch of 2023 SAYE Scheme

AFC Energy Plc

23 October 2023

 

23 October 2023

AFC Energy PLC

("AFC Energy" or the "Company")

Launch of 2023 SAYE Scheme

 AFC Energy (AIM: AFC), a leading provider of hydrogen power generation technologies, is pleased to announce that it has launched the 2023 Save As You Earn Scheme (the "2023 SAYE Scheme") for all eligible employees.

The SAYE Scheme allows eligible employees to commit to making a deduction from salary on a monthly basis over three years. At the end of the three-year period, employees can purchase the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") at a price of 14.304 pence per Ordinary Share, representing a 20 % discount to the closing market price of the Ordinary Shares prior to the scheme being launched on 6 September 2023. The discount is in line with the limits of the 2023 SAYE Scheme as defined by HMRC.

The Company proposes to use its Block Listing facility in respect of Ordinary Shares issued pursuant to the 2023 SAYE Scheme and the prior 2022 SAYE Scheme.

For further information, please contact:

AFC Energy plc Adam Bond (Chief Executive Officer)	[phone] [e-mail]
Peel Hunt LLP - Nominated Adviser and Joint Broker Richard Crichton / Tom Ballard / Georgia Langoulant	[phone]
Zeus - Joint Broker David Foreman / James Hornigold (Investment Banking) Dominic King (Corporate Broking) / Rupert Woolfenden (Sales)	[phone]
FTI Consulting - Financial PR Advisors Ben Brewerton / Nick Hennis / Dhruv Soni	[phone] [e-mail]

About AFC Energy

AFC Energy plc is a leading provider of hydrogen energy solutions, to provide clean electricity for on and off grid power applications. The Company's fuel cell technology is now deployable as electric vehicle chargers, off-grid decentralised power systems for construction and temporary power with emerging opportunities across maritime, data centres and rail as part of a portfolio approach to the decarbonisation of society's growing electrification needs.

 

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