5
March 2024
Proton Motor Power Systems
plc
("Proton Motor" or the
"Company")
Issue of Equity, Director
dealings and Key Person Stock award scheme
Proton Motor Power Systems plc (AIM:
PPS), the designer and producer of hydrogen fuel cells and hydrogen
fuel cell electric hybrid systems with a zero-carbon footprint,
announces the issue of new ordinary shares of 0.5 pence each in the
capital of the Company ("Ordinary
Shares") pursuant to the Company's share schemes and in
satisfaction of accrued loan interest. In total, 70,653,401 new
Ordinary Shares have been issued at an issue price of 3.25 pence
(the "Issue Price"), being
the closing mid-market price of an Ordinary Share on 4 March
2024.
250,000 new Ordinary Shares have
been issued pursuant to the Company's Key Person Stock Award and
Employee share purchase schemes (the "Scheme Shares") at the Issue Price.
Eligible employees and Directors were invited to subscribe for
Scheme Shares at the Issue Price pursuant to the Company's share
schemes, of which a number elected to participate. No Scheme Shares
have been issued to directors of the Company.
Separately, 2,455,493 new Ordinary
Shares have been issued, also at the Issue Price, to certain
non-executive directors of the Company as payment in lieu of fees
("Fee Shares"), as detailed
in the table below. In accordance with the terms of their
employment contracts, Helmut Gierse and Antonio Bossi have both
been issued Fee Shares in lieu of their respective director fees
for the 12 month period ending 31 January 2024.
|
|
|
Resulting
holding
|
|
Director
|
Scheme
Shares
|
Fee Shares
|
Ordinary Shares
held
|
As a percentage of the
enlarged share capital
|
Options
held
|
Helmut Gierse
|
-
|
1,840,108
|
10,755,005
|
0.65%
|
1,350,000
|
Antonio Bossi
|
-
|
615,385
|
1,206,812
|
0.07%
|
-
|
Lastly, 67,947,908 new Ordinary
Shares (the "Interest
Shares") have today been issued, at the Issue Price, to Mr.
Falih Nahab pursuant to the loan facility with Mr. Falih Nahab,
details of which were most recently announced by the Company on 20
June 2023 (the "Falih Nahab
Facility"). The Interest Shares have been issued in lieu of
cash in satisfaction of approximately £2,208,307 of interest
accrued under the Falih Nahab Facility for the six months ended 31
December 2023. As announced on 20 June 2023, it was envisaged that
the Interest shares would be issued once or twice yearly in
February and/or July of each year. As the Company is no longer in a
closed period, the Company now considers it appropriate to issue
the Interest Shares in accordance with the terms of the Falih Nahab
Facility.
Application for admission to trading and total voting
rights
Application has been made for
68,563,293 new Ordinary Shares, comprising the Fee Shares to be
issued to Antonio Bossi and the Interest Shares, to be admitted to
trading on AIM ("Admission") and Admission is expected
to take effect on or around 11 March 2024.
A subsequent application will be
made for the Fee Shares to be issued to Helmut Gierse and the
Scheme Shares to be admitted to trading on AIM in due course
("Second Admission") once
the registration details for the recipients' German share trading
accounts have been confirmed and a further announcement will be
made at the appropriate time.
Following Admission, the Company's
issued share capital will comprise 1,659,660,938 Ordinary Shares.
The Company does not hold any Ordinary Shares in treasury. This
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 Financial
Conduct Authority's Disclosure Guidance and Transparency
Rules.
Holdings in Company
On Admission, Mr. Falih Nahab will
hold 485,305,797 Ordinary Shares, representing 29.24% of the
enlarged issued share capital. Falih Nahab is also a 28%
shareholder in SFN Cleantech Investment Limited, which holds a
further 895,700,056 Ordinary Shares, representing 53.97% of the
enlarged issued share capital following Admission.
For
further information:
Proton Motor Power Systems
Plc
|
|
Dr Faiz Nahab,
CEO
|
|
Roman Kotlarzewski, CFO
|
+49 (0) 173 189 0923
|
|
www.protonpowersystems.com
|
Allenby Capital
Limited
|
|
Nominated Adviser &
Broker
|
+44 (0) 20 3328 5656
|
James Reeve / Vivek
Bhardwaj
|
|
|
|
Celicourt Communications
|
|
PR Adviser
|
+44 (0) 20 7770 6424
/ protonmotor@celicourt.uk
|
Mark Antelme / Philip
Dennis
|
|
About Proton Motor
Proton Motor has 25 years of
experience in Power Solutions using CleanTech technologies such as
hydrogen fuel cells, fuel cell and hybrid
systems with a zero carbon
footprint. Based in Puchheim near Munich,
Proton Motor develops and produces standard Products as well as
customised solutions. The focus of
Proton Motor is on stationary solutions, as well as mobile, marine
and rail applications. The product portfolio consists of
base-fuel cell systems, standard complete, as well as customised
systems.
Proton Motor Fuel Cell GmbH is a
wholly owned subsidiary of Proton Motor Power Systems plc. The
Company has been quoted on the AIM market of the London Stock
Exchange since October 2006 (code: PPS).
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
|
|
|
Helmut Gierse
|
Non-Executive Chairman
|
Antonio Bossi
|
Non-Executive Director
|
|
2.
|
Reason for the Notification
|
a)
|
Position/status
|
See 1a) above
|
b)
|
Initial
notification/Amendment
|
Initial Notification
|
3.
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Proton Motor Power Systems
Plc
|
b)
|
LEI
|
213800TRXTSRGG8J2P59
|
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
|
Ordinary shares of GBP 0.005 each in
Proton Motor Power Systems Plc
|
Identification code
|
ISIN: GB00BP83GZ24
|
b)
|
Nature of the transaction
|
Fee Shares
|
c)
|
Price(s) and volume(s)
|
Name
|
Price(s)
|
Volume(s)
|
Helmut Gierse
|
3.25 pence
|
1,840,108
|
Antonio Bossi
|
3.25 pence
|
615,385
|
|
d)
|
Aggregated information:
|
|
|
- Aggregated
volume
|
2,455,493
|
|
- Price
|
3.25 pence
|
e)
|
Date of the transaction
|
5 March 2024
|
f)
|
Place of the transaction
|
Outside a trading venue
|