AFC Energy grants options on 810,000 shares to employees
Nov 9, 2012 - UK fuel cells maker AFC Energy Plc (LON:AFC) said Thursday that it would grant options on 810,000 new ordinary shares in the company at a price of GBP 0.001 (USD 0.002/EUR 0.001) each to its employees.
The options were granted to employees as an incentive and in recognition of their performance, under the company’s Enterprise Management Incentive (EMI) share option scheme.
The options are exercisable at GBP 0.36 per ordinary share, which is equal to the closing price on November 6, 2012, in 3 to 10 years after the issue date.
In addition, the company has applied for the admission of 1.05 million of its ordinary shares for trading on the London Stock Exchange’s AIM market as a result of the exercise of 500,000 options under AFC Energy's EMI share option scheme and 550,000 warrants.
After the admission of the 1.05 million ordinary shares, the company’s total enlarged share capital will amount to 218.3 million ordinary shares and no shares will be held in treasury.