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Velocys plc announced that on 22 June 2022, Philip Sanderson, Chief Financial Officer and Director, was granted 5,000,000 share options. These options, issued under the Velocys 2021 Share Option Scheme, have an exercise price of £0.045 per share and represent 0.36% of the company's present issued share capital. The Commencement Award vests as to one-third per annum on the 1st, 2nd, and 3rd anniversaries of the grant date.
| Date | 23 Jun 2022 |
| Time | 07:00:07 |
| Category | Director/PDMR dealings |
| ID | 8768P |
Velocys plc
("Velocys" or "the Company")
23 June 2022
Grant of Share Option to Director
Velocys plc (VLS.L), the sustainable fuels technology company, today announces that, on 22 June 2022, Philip Sanderson, Chief Financial Officer and a Director of the Company, was granted options ("Commencement Award") under the Velocys 2021 Share Option Scheme over the Company's £0.01 Ordinary shares ("Ordinary Shares"). The Commencement Award has been made under the Rules of the Velocys 2021 Share Option Scheme as follows:
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Name of Director |
Type of share option |
Number of share options granted
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Exercise price |
Vesting/ Exercise (See note below) |
Number of share options as % of present issued share capital |
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Philip Sanderson |
Commencement Award |
5,000,000 |
£0.045
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Note 1
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0.36%
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Following this notification, Philip Sanderson is interested in nil Ordinary Shares and Options over 5,000,000 Ordinary Shares of the Company, together representing 0.36% of the present issued share capital of the Company.
The above option is subject to terms for Malus and Clawback and may not in any event be exercised later than the day immediately preceding the tenth anniversary of the date of grant.
Note 1: The Commencement Award vests on a time basis as to one third per annum on the 1st, 2nd and 3rd anniversaries of the date of grant.
- END -
Enquiries:
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Velocys Henrik Wareborn, CEO Philip Sanderson, CFO Lak Siriwardene, Director of Communications & Sustainability |
+44 1865 800821 |
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Panmure Gordon (UK) Limited (Nomad and Joint Broker) Emma Earl (Corporate Finance) John Prior (Corporate Finance) Hugh Rich (Corporate Broking) |
+44 20 7886 2500 |
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Shore Capital Stockbrokers Limited (Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) James Thomas (Corporate Advisory) |
+44 20 7408 4090 |
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Buchanan (Financial PR) Helen Tarbet Simon Compton |
+44 20 7466 5000 |
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Radnor Capital (Investor Relations) Joshua Cryer Iain Daly |
+44 20 3897 1830 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Philip Sanderson
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2
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Reason for the notification
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a)
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Position/status
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Chief Financial Officer
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b)
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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VELOCYS PLC |
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b)
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LEI |
549300KGMQV70HA5Y715 |
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4
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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 |
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a)
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Description of the financial instrument, type of instrument
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Option over ordinary shares of £0.01 each
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b) |
Identification code |
ISIN: GB00B11SZ269
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c)
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Nature of the transaction
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Grant of share option |
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d)
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Price(s) and volume(s)
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e)
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Aggregated information
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5,000,000 4.5 pence
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f)
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Date of the transaction
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22 June 2022 |
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g)
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Place of the transaction
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Outside a trading venue |
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Notes to Editors
Velocys is an LSE-listed, international sustainable fuels technology company, traded on the AIM, providing customers with a technology solution to enable the production of negative Carbon Intensity synthetic, drop-in fuels from a variety of waste materials. Synthetic fuel is the only commercially available, permanent alternative to fossil aviation fuels. The Velocys technology is IP-protected in all major jurisdictions.
Two reference projects (Bayou Fuels, US, and Altalto, UK) are designed to accelerate the adoption and standardise the Velocys proprietary Fischer Tropsch (FT) technology with an integrated end to end solution, including renewable power and carbon sequestration.
Velocys is enabling commercial scale synthetic fuel production in response to the clean energy transition, with significant additional positive air quality impacts.