Information  X 
Enter a valid email address

RedT Energy PLC (RED)

  Print      Mail a friend

Friday 18 May, 2018

RedT Energy PLC

Grant of Share Options

RNS Number : 6150O
RedT Energy PLC
18 May 2018
 

18 May 2018

 

redT energy plc

 

("redT" or the "Company")

 

Grant of Share Options

 

The Board of redT energy plc (AIM:RED), the energy storage solutions company, announces that it has approved the grant of a tranche of share options (the "Options") to subscribe for ordinary shares of €0.01 in the Company (the "Ordinary Shares").

The Options will be awarded under the redT energy 2018 Employee Share Option Plan ("Employee Share Option Plan"), which includes a CSOP, EMI and unapproved part, and the redT energy 2018 Consultant Share Option Plan ("Consultant Share Option Plan"), together "the Plans", which were adopted by the Board on 14 May 2018.  

Options over a total of 25,920,835 Ordinary Shares will be granted under the Plans; 12,399,552 under the CSOP part with an exercise price of 7.05 pence per Ordinary Share (being the Market Value), 10,521,283 under the EMI part with an exercise price of 5.9 pence (being the price at which the Company completed the placing as announced on 13 April 2018), 1,000,000 under the Unapproved part with an exercise price of 5.9 pence, and 2,000,000 under the Consultant Share Option Plan with an exercise price of 5.9 pence. The Options will vest between two and five years from the date of grant and are exercisable for a period of three years from the date at which they first vest.

As part of the Options, 3,000,000 Options over Ordinary Shares under the EMI part will be granted to Fraser Welham as a Director of the Company, and 1,000,000 Options over Ordinary Shares under the Unapproved part will be granted to David Stewart as a Director of the Company. 

To date, and including the Options above, redT has made awards of 25,920,835 Ordinary Shares pursuant to the 2018 Employee and Consultant Share Option Plans.

The Board has also approved for 35,027,758 Options under the 2015 Share Plan to be surrendered and regranted under the 2018 Employee Share Option Plan, subject to the surrender of the existing options and on the same commercial terms as the original options.

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

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 unapproved options in respect of 1,000,000 ordinary shares at an exercise price of 5.9 pence per ordinary share

c)

Price(s) and volume(s)

 Price

Volume

0.059

1,000,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

18 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

Fraser Welham



2.

Reason for the Notification

a)

Position/status

Chief Financial 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 3,000,000 Ordinary Shares at an exercise price of 5.9 pence per Ordinary Share

c)

Price(s) and volume(s)

 Price

Volume

0.059

3,000,000

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

18 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 company news service from the London Stock Exchange
 
END
 
 
DSHZMGMKFRKGRZM

a d v e r t i s e m e n t