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RNS Number : 2134Z
AFC Energy Plc
13 March 2017
 

13 March 2017

 

AFC Energy PLC

 

("AFC Energy" or the "Company")

 

 

Notification of Major Interest in Shares - Schroders  

 

AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to confirm receipt of a "TR-1 - Notification of Major Interest in Shares" from Schroders Investment Management Ltd ("Schroders") notifying the Company of Schroder's new 8.441% interest in AFC Energy.  Schroders were the largest single investor in the Company's recent £6m placement with a £3.3m investment in AFC Energy. 

Adam Bond, AFC Energy's Chief Executive Officer, said: "We are delighted to welcome onto AFC Energy's shareholder register one of the UK's largest and most well regarded and respected institutional investors.  This investment signifies confidence in the business and its strategy, further demonstrating the material technical and commercial progress AFC Energy is making, together with the pipeline of projects we continue to progress and hope to consolidate throughout the course of 2017."     

For further information, please contact:

AFC Energy plc

Adam Bond (Chief Executive Officer)

 

 

+44 (0) 20 3697 1209

Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker

Andrew Craig

Richard Salmond 

                          

 

+44 (0) 20 7894 7000

M C Peat & Co LLP - Joint Broker

Charlie Peat

 

+44 (0) 20 7104 2334



Lionsgate Communications - Public Relations

Jonathan Charles

 

 

 

+44 (0) 20 3697 1209

 

About AFC Energy

 

AFC Energy plc has developed and successfully demonstrated an alkaline fuel cell system, which converts hydrogen into "clean" electricity. AFC Energy's key project POWER-UP demonstrated the world's largest operational alkaline fuel cell system at Air Products' industrial gas plant in Stade, Germany in January 2016.  The Company is now looking to build upon an already established pipeline of commercial opportunities and drive the findings from the development phase of the technology into a technically optimised and commercially relevant fuel cell system.  For further information, please visit our website: ww.afcenergy.com

 

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi



1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii

AFC Energy plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

ü

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached


An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments


An event changing the breakdown of voting rights


Other (please specify):

Type 1 disclosure as per Transparency Directive II Regulation

ü

3. Full name of person(s) subject to the
notification obligation: iii

Schroders plc & Schroder Investment Management Limited

4. Full name of shareholder(s)
 (if different from 3.):iv


5. Date of the transaction and date on
which the threshold is crossed or
reached: v

09.03.17

6. Date on which issuer notified:

10.03.17

7. Threshold(s) that is/are crossed or
reached: vi, vii

Above 5%


 

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

 

Ordinary

 

GB00B18S7B29

Below 5%

Below 5%

33,000,000

N/A

33,000,000

N/A

8.441%


B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date xiii

Exercise/
Conversion Period xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights







C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period xviii

Number of voting rights instrument refers to

 

% of voting rights xix, xx

 






Nominal

Delta




Total (A+B+C)

Number of voting rights

Percentage of voting rights

33,000,000

8.441%


 

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

Schroder Investment Management Limited                               33,000,000               8.441%


Proxy Voting:

10. Name of the proxy holder:


11. Number of voting rights proxy holder will cease
to hold:


12. Date on which proxy holder will cease to hold
voting rights:




13. Additional information:

The shares referred to in section 9 are held in portfolios managed by those firms on a discretionary basis for clients under investment management agreements. This disclosure has been calculated based on issue share capital amount 390,948,205.

14. Contact name:

Chloe Talbot

15. Contact telephone number:

020 7658 6000

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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