12 December 2022
Gelion plc
("Gelion" or the "Company")
CEO Board Appointment and Grant of Options
Further to the appointment of John Wood as CEO with effect from 21 November 2022, Gelion (AIM: GELN), the Anglo-Australian battery storage innovator, is pleased to announce his appointment to the Board with immediate effect, following the Company's AGM held on 9 December 2022 and completion of the required regulatory due diligence.
Grant of Options
In conjunction with Mr Wood's appointment to the Board, Mr Wood has been granted 2,704,000 options ("Options") to subscribe for new ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares"), in accordance with the terms of the Company's new Share Option Plan. The Options have an exercise price of 0.1 pence and will vest in three tranches as set out below, provided that on each vesting date Mr Wood is in continuous employment with Gelion. The Options expire, to the extent that they have not been exercised, on 12 December 2027.
- 1,622,400 Options will vest 12 months from the date of grant
- 540,800 Options will vest 24 months from the date of grant
- 540,800 Options will vest 36 months from the date of grant
All Options are subject to both malus and clawback provisions and good and bad leaver provisions. All unvested options will vest in certain corporate events such as a takeover of the company or a change of control. In these circumstances the Options would normally vest and become exercisable in full unless the Board decides that the Options will be pro-rated to take account of the date the corporate event took place during the normal vesting period.
Subsequent to this issue of Options, the Company has approximately 8.68 million Options in issue, representing 8.0 % of the Company's issued share capital.
Dr Steve Mahon, Chairman of Gelion, said: "I am delighted to welcome John to the Board. In the few short weeks since he joined as CEO, his wealth of commercial, battery and manufacturing experience is already coming to the fore. We look forward to the future under his leadership with a clear ambition to take Gelion to the next level of growth to deliver shareholder value."
CONTACTS
| Gelion plc Steve Mahon, Chairman Amit Gupta, CFO Thomas Maschmeyer, Founder and Principal Technology Advisor
| via Alma PR |
| finnCap Ltd (Nominated Adviser and Sole Broker) | +44 207 220 0500 |
| Corporate Finance Christopher Raggett Seamus Fricker Fergus Sullivan
ECM Barney Hayward
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| Alma PR (Financial PR Adviser) Justine James Josh Royston Hannah Campbell Will Ellis Hancock
| +44 20 3405 0205 gelion@almapr.co.uk |
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Regulatory disclosures
The following information regarding John William Wood, aged 59, is disclosed under Schedule 2(g) of the AIM Rules for Companies:
| Current directorships and/or partnerships: | Former directorships and/or partnerships (within the last five years):
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| Gelion Technologies Pty Limited On The Jetty PTY Ltd Out of the Woods Super PTY Ltd | Smart Storage PTY Ltd Ecoult Holding Co. |
As at 12 December 2022, John Wood beneficially holds 24,000 Ordinary Shares, representing 0.02% of the Company's issued share capital. In addition, he holds Options over 2,704,000 Ordinary Shares.
There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.
The Notification of Dealing Form set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
| | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | John Wood | ||||
| 1. | Reason for the notification | |||||
| a) | Position/status: | Chief Executive Officer | ||||
| b) | Initial notification/Amendment: | Initial notification | ||||
| 2. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name: | Gelion plc | ||||
| b) | LEI: | 2138008NC7YL3MCUDR84 | ||||
| 3. | 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: Identification code: | Options over Ordinary Shares of 0.1p each
GB00BNBQZD59 | ||||
| b) | Nature of the transaction: | Grant of Options | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: · Aggregated volume: · Price: | N/A
| ||||
| e) | Date of the transaction: | 12 December 2022 | ||||
| f) | Place of the transaction: | Outside of a trading venue | ||||
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