Update on Grant of Share Options

RNS Number : 8419P
RedT Energy PLC
31 May 2018
 

31 May 2018

 

redT energy plc

 

("redT" or the "Company")

 

Update on Grant of Share Options

 

Further to the announcement dated 18th May 2018, the Board of redT energy plc (AIM:RED) has approved the surrender and regrant of a tranche of share options (the "Options") to subscribe for ordinary shares of €0.01 in the Company (the "Ordinary Shares").

The Options, which were originally granted under the 2015 Share Plan, are being surrendered and regranted to align with the 2018 Employee Share Option Plan adopted by the Board on 14 May 2018, which introduced HMRC scheme rules (with a CSOP, EMI and Unapproved part). The Options are on the same commercial terms as the original options granted (including the exercise price and vesting conditions) and there are no additional new options being awarded.

Options over a total of 31,512,928 Ordinary Shares will be regranted under the Employee Share Option Plan; 23,743,005 under the EMI part and 7,769,923 under the Unapproved part (there are no Options regranted under the CSOP part). The Options are granted in return for the surrender of Options over a total of 31,512,928 Ordinary Shares that were granted under the 2015 Share Plan.

As part of the surrender and regrant of the Options, Options over 10,000,000 Ordinary Shares will be regranted to Scott McGregor as a Director of the Company (4,032,096 under the EMI part and 5,967,904 under the Unapproved part) in return for the surrender of Options over 10,000,000 Ordinary Shares under the 2015 Share Plan. In addition, Options over 4,000,000 Ordinary Shares will be regranted to David Stewart as a Director of the Company under the EMI part, in return for the surrender of Options over 4,000,000 Ordinary Shares under the 2015 Share Plan. 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Scott McGregor



2.

Reason for the Notification

a)

Position/status

Chief Executive Officer of the Company

b)

Initial notification/amendment

Initial notification



3.

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

a)

Name

redT energy plc

b)

LEI

213800N2NKOTYUNRCU14



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

Options over ordinary shares of €0.01 each ("Ordinary Shares")

Identification code

GB00B11FB960

b)

Nature of the Transaction

Award of EMI options in respect of 4,032,096 Ordinary Shares at an exercise price of 8 pence per Ordinary Share. Award of Unapproved Options in respect of 5,967,904 at exercise price of 8 pence per Ordinary Share

c)

Price(s) and volume(s)

 Price

Volume

0.08

10,000,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

30 May 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:RED)

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Stewart



2.

Reason for the Notification

a)

Position/status

Chief Operating Officer of the Company

b)

Initial notification/amendment

Initial notification



3.

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

a)

Name

redT energy plc

b)

LEI

213800N2NKOTYUNRCU14



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

Options over ordinary shares of €0.01 each ("Ordinary Shares")

Identification code

GB00B11FB960

b)

Nature of the Transaction

Award of EMI options in respect of 4,000,000 ordinary shares at an exercise price of 8 pence per ordinary share.  

c)

Price(s) and volume(s)

 Price

Volume

0.08

4,000,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

30 May 2018

f)

Place of the transaction

London Stock Exchange, AIM (LON:RED)

 

NOTIFICATION AND PUBLIC DISCLOSURE IN ACCORDANCE WITH THE REQUIREMENTS OF THE EU MARKET ABUSE REGULATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.

 

 

Enquiries:

 

redT energy plc

+44 (0)20 7061 6233

Scott McGregor, Chief Executive Officer

Fraser Welham, Chief Financial Officer


Joe Worthington, Investor & Media Relations




Investec Bank plc (Nominated Adviser and Broker)

+44 (0)20 7597 5970

Jeremy Ellis / Chris Sim / Alexander Ruffman




VSA Capital (Joint Broker)

+44 (0)20 3005 5000

Andrew Monk / Andrew Raca




Celicourt Communications (Financial PR)

+44 (0)20 7520 9266

Mark Antelme


Jimmy Lea


Ollie Mills


 

Notes to Editors

 

About redT energy

 

redT energy plc are experts in energy storage, specialising in the design, manufacture, installation and operation of energy storage systems which create revenue alongside reliable, low-cost renewable generation for businesses, industry and electricity distribution networks. Using patented vanadium redox flow technology to store energy in liquid, redT's own energy storage machines can be run continually with no degradation: charging and discharging for over 25 years, matching the lifespan of renewable assets in on-grid, off-grid and weak-grid settings.

 

redT's energy storage solutions, developed over the past 15 years, address today's changing energy market by providing a flexible platform for time shifting surplus renewable power, securing electricity supplies and earning revenue through grid services. The company has operating machines deployed with customers in the UK, Europe, sub-Saharan Africa, Australia and Asia Pacific. redT energy plc is listed on the London Stock Exchange (AIM:RED) and has offices in the UK, Africa and the USA. For more information, visit www.redTenergy.com

 

For sales, press or investor enquiries, please contact the redT team on +44 (0)207 061 6233.

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHFMGFKLMLGRZG
UK 100