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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Active Energy Group PLC    AEG   GB00B1YMN108

ACTIVE ENERGY GROUP PLC (AEG)
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Delayed Quote. Delayed  - 06/18 05:35:14 pm
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02/14ACTIVE ENERGY : Grant of Options
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02/06ACTIVE ENERGY : Board Changes
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Active Energy : Grant of Options

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02/14/2018 | 01:41pm CEST

14 February 2018

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

Active Energy Group Plc ('Active Energy', 'AEG' or 'the 'Group')

Grant of Options

Active Energy, the London quoted international biomass based renewable energy and forestry management business, announces the approval of the grant of options over a total of 50,500,000 ordinary shares of 1p each in the Group ('Ordinary Shares') to certain of its Directors, and consultants representing 3.39% of AEG's Ordinary Shares and total voting rights on a fully diluted basis (the 'Options'). The Group is granting the Options in recognition of the recent achievement of certain key milestones including the official opening of AEG's first commercial CoalSwitch™ plant in Utah, USA.

The Options are being granted in two tranches with different exercise prices and vesting periods. 25,250,000 Options will have an exercise price of 4.5p which represents the 52 week high for AEG's share price prior to 13 February 2018 (the 'Tranche 1 Options'). The Tranche 1 Options will vest subject to certain conditions after 12 months and are exercisable between 1 and 10 years from the date of grant.

A further 25,250,000 Options will have an exercise price of 8.5p which represents an 89% premium to AEG's 52 week high share price, prior to 13 February 2018 (the 'Tranche 2 Options'). The Tranche 2 Options will vest subject to certain conditions after 24 months and are exercisable between 2 and 10 years from the date of grant.

Options granted to Directors and PDMRs

As summarised in the tables below, AEG has granted 43,000,000 of the Options to the Company's Directors and a PDMR pursuant to the Company's existing unapproved share option scheme (the 'Scheme').

Director/PDMR

Options Granted

Richard Spinks - CEO

Tranche 1 Options: 12,500,000

Tranche 2 Options: 12,500,000

Michael Rowan - Chairman

Tranche 1 Options: 8,000,000

Tranche 2 Options: 8,000,000

Michael Bolwell - Group Financial Controller

Tranche 1 Options: 1,000,000

Tranche 2 Options: 1,000,000

Messrs Spinks, Rowan and Bolwell currently have the following interests in issued Ordinary Shares:

Director/PDMR

Number of Ordinary Shares

% of issued share capital at 13 February 2018

Richard Spinks

41,733,333

4.39%

Michael Rowan

3,221,250

0.34%

Michael Bolwell

Nil

Nil

In addition, following the grant of the Options referred to above, Messrs Spinks, Rowan and Bolwell will have the following interests in share options in the AEG:

Director/PDMR

Number of options

Exercise Price

Expiry Date

Richard Spinks

12,500,000

12,500,000

4.5p

8.5p

12 February 2028

12 February 2028

Michael Rowan

4,500,000

8,000,000

8,000,000

6p

4.5p

8.5p

18 October 2025

12 February 2028

12 February 2028

Michael Bolwell

1,000,000

1,000,000

1,000,000

5p

4.5p

8.5p

8 November 2025

12 February 2028

12 February 2028

Total Share Options and Warrants

The total options outstanding that have previously been granted to other employees and consultants pursuant to the Scheme is 34,950,000. Following the grant of the Options, there are now 177,825,099 outstanding options and warrants over AEG's Ordinary Shares, representing 11.95% of the Group's Ordinary Shares and total voting rights on a fully diluted basis.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

Enquiries & Further Information:

Enquiries

Active Energy Group Plc

Michael Rowan

Executive Chairman

[email protected]

Richard Spinks

Chief Executive Officer

[email protected]

Northland Capital Partners Limited

Nominated Adviser

David Hignell/Gerry Beaney

Office: +44 (0)20 3861 6625

Optiva Securities Ltd Broker

Graeme Dickson/Ed McDermott

Office: +44 (0)20 3137 1902

St Brides Partners

Financial PR Adviser

Susie Geliher

[email protected]

Office: +44 (0) 20 7236 1177

About Active Energy Group:

Active Energy Group Plc (AIM: AEG.L) is a London Stock Exchange-listed international renewable energy business based upon forestry assets. Its model is focussed on capturing the entire forestry value chain through sourcing, utilising and commercialising assets, and setting a new standard in the sustainable management and optimisation of timber resources. The Company is led by a highly technical and commercial team with the experience to execute its defined growth strategy and build its visibility, primarily as a London-listed timber opportunity with a revolutionary biomass fuel technology.

Active Energy Group plc published this content on 14 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 February 2018 12:40:04 UTC.

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Managers
NameTitle
Richard George Spinks Chief Executive Officer & Executive Director
Thomas Michael Strafford Rowan Non-Executive Chairman
Simon Charles Melling Non-Executive Director
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