PNPL Pineapple Power Corporation Plc

TIDMPNPL

RNS Number : 2355O

Pineapple Power Corporation PLC

08 February 2021

08 February 2021

Pineapple Power Corporation PLC

("Pineapple" or the "Company")

Grant of Options

Pineapple Power Corporation PLC, traded on the Standard Market segment of the London Stock Exchange under the symbol PNPL, announces the grant of options over new ordinary shares of 0.01p each in the Company ("Options").

A total of 6,000,000 Options have been awarded to Directors and Advisors involved in the continuing advancement of the Company's goal to complete a reverse take-over transaction in the renewable energy sector.

The Options have an exercise price of 11p per Ordinary Share. The Options vest and are exercisable 6 months from the date of grant and expire in two years from the date of grant. The Options granted represent approximately 10 per cent of the Company's current issued share capital. The exercise price is equal to the closing price of the shares on the LSE on February 5, 2021. The Options have been granted in the amounts set out below:

 
 Name                   Position Held              No. of Options granted 
 Claudio Morandi        Non-executive Director     1,250,000 
                       -------------------------  ----------------------- 
 Andrew Holland         Non-executive Director     1,250,000 
                       -------------------------  ----------------------- 
                        Corporate Finance 
 Clive de Larrabeiti     Advisor                   1,250,000 
                       -------------------------  ----------------------- 
 Peter Mills            Corporate Administrator    1,250,000 
                       -------------------------  ----------------------- 
                        Corporate Finance 
 Richard Offer           Advisor                   500,000 
                       -------------------------  ----------------------- 
 Ryan Reynolds          Financial Advisor          500,000 
---------------------  -------------------------  ----------------------- 
                                                   6,000,000 
                                                  ----------------------- 
 

Claudio Morandi, Director stated -

"T he Board is committed to pursuing acquisition opportunities and completing a reverse takeover in the renewable or clean energy sector. The grant of these options further aligns our interests with our shareholders. We are pleased with our progress to date and welcome the positive interest in our company exhibited by our share price and trading liquidity and we are focusing on continuing this progress for the benefit of all our stakeholders."

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the requirements of the Market Abuse (Amendment) (EU exit) Regulations 2019/310 are set out here.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                             Claudio Morandi 
      -------------------------------  -------------------------------------- 
 2     Reason for the notification 
      ----------------------------------------------------------------------- 
 a)    Position/status                  Non-Executive Director 
      -------------------------------  -------------------------------------- 
 b)    Initial notification             Initial Notification 
        /Amendment 
      -------------------------------  -------------------------------------- 
 3     Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or auction 
        monitor 
      ----------------------------------------------------------------------- 
 a)    Name                             Pineapple Power Corporation PLC 
      -------------------------------  -------------------------------------- 
 b)    LEI                              213800BTD7JL99MTGQ68 
      -------------------------------  -------------------------------------- 
 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                   Ordinary Shares of 0.01 pence 
        the financial instrument,        each 
        type of instrument 
 
       Identification                   GB00BD0SN947 
        code 
 
 b)    Nature of the transaction        Grant of options 
      -------------------------------  -------------------------------------- 
 c)    Price(s) and volume(s) 
                                        ----------------------  ----------- 
                                         Price(s)                Volume(s) 
                                        ----------------------  ----------- 
    Exercise price 
     of Nil per Option 
     - GBP0.10                                                   1,250,000 
   -----------------------------------------------------------  ----------- 
 
 d)    Aggregated information           N/A 
 
  - Aggregated volume 
 
  - Price 
 
 e)    Date of the transaction          5 February 2021 
      -------------------------------  -------------------------------------- 
 f)    Place of the transaction         London Stock Exchange 
      -------------------------------  -------------------------------------- 
 

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                             Andrew Holland 
      -------------------------------  -------------------------------------- 
 2     Reason for the notification 
      ----------------------------------------------------------------------- 
 a)    Position/status                  Non-Executive Director 
      -------------------------------  -------------------------------------- 
 b)    Initial notification             Initial Notification 
        /Amendment 
      -------------------------------  -------------------------------------- 
 3     Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or auction 
        monitor 
      ----------------------------------------------------------------------- 
 a)    Name                             Pineapple Power Corporation PLC 
      -------------------------------  -------------------------------------- 
 b)    LEI                              213800BTD7JL99MTGQ68 
      -------------------------------  -------------------------------------- 
 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                   Ordinary Shares of 0.01 pence 
        the financial instrument,        each 
        type of instrument 
 
       Identification                   GB00BD0SN947 
        code 
 
 b)    Nature of the transaction        Grant of options 
      -------------------------------  -------------------------------------- 
 c)    Price(s) and volume(s) 
                                        ----------------------  ----------- 
                                         Price(s)                Volume(s) 
                                        ----------------------  ----------- 
    Exercise price 
     of Nil per Option 
     GBP0.10                                                     1,250,000 
   -----------------------------------------------------------  ----------- 
 
 d)    Aggregated information           N/A 
 
  - Aggregated volume 
 
  - Price 
 
 e)    Date of the transaction           5 February 2021 
      -------------------------------  -------------------------------------- 
 f)    Place of the transaction         London Stock Exchange 
      -------------------------------  -------------------------------------- 
 

For further information please contact -

 
 Pineapple Power Corporation PLC 
 Claudio Morandi - Director 
                                          +44 203 039 3913 
  Clive de Larrabeiti 
  Corporate Finance Advisor 
  clive.d.l@pineapple-powercorp.com       +44 797 317 7973 
                                       ------------------- 
 Joint Corporate Broker 
  Peterhouse Capital 
  Charles Goodfellow 
  cg@peterhousecap.com 
                                          +44 207 220 9791 
  Joint Corporate Broker 
  Axis Capital Markets 
  Richard Hutchison 
  rh@axcap247.com                         +44 203 026 0320 
                                       ------------------- 
 Media Relations 
 David Burton 
  Total Market Solutions 
  davidburton.tms@gmail.com 
 Tancredi Intelligent Communications 
  Salamander Davoudi                      +44 795 754 9906 
  salamander@tancredigroup.com 
 
  Helen Humphrey 
  helen@tancredigroup.com                 +44 744 922 6720 
                                       ------------------- 
 

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February 08, 2021 02:00 ET (07:00 GMT)