Source - RNS
RNS Number : 7535J
Active Energy Group PLC
14 September 2016

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


14 September 2016


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

Cancellation of Director's Options


Active Energy, the AIM quoted international timber processing, forestry management and renewable energy business, announces an update regarding the Company's CEO, Richard Spinks' Remuneration Package.


On 9 April 2015 the Company announced that Richard Spinks had been granted an option, exercisable at nil cost over a maximum of 4 per cent. of the Company's issued share capital as enlarged by exercise of his option. The vesting of this option was subject to certain conditions precedent being satisfied.


Following recent discussions between Richard Spinks and the Company's Remuneration Committee, the Company's board have agreed to cancel this nil-cost option with immediate effect in order to simplify Richard Spinks' current Remuneration Package.


The Company's board believe that good progress is currently being made across the three divisions of the AEG business, being AEG WoodFibre, AEG TimberLands and AEG CoalSwitch and the Company will now look to award Richard Spinks an alternative Remuneration Package as part of an on-going review being conducted by the Remuneration Committee. Further announcements regarding the new Remuneration Package will be provided in the near future.


Richard Spinks is fully committed to delivering on the Group's growth strategy and remains beneficially interested in 10,162,000 of the Company's ordinary shares of 1p each ("Ordinary Shares"), which represents 1.54% of the Company's issued share capital with voting rights. Richard also still holds options over 40,000,000 Ordinary Shares at an exercise price of 1.3p and a current exercise date of 9th July 2017. 


The Remuneration Package for Matteo Girlanda and Brian Evans-Jones, which were also announced on 9 April 2015, remain unchanged.


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







Enquiries & Further Information:




Twitter (@aegplc)



Active Energy Group Plc


Richard Spinks

Chief Executive Officer

[email protected]

Int: +380 503 942 702

Brian Evans-Jones

Chief Financial Officer

[email protected]

UK: +44 (0)7500 861 696

Ukraine: +380 955 227 745

Northland Capital Partners Limited

Nominated Adviser & Broker


Patrick Claridge/David Hignell/Gerry Beaney (Corporate Finance)

John Howes/Rob Rees

(Sales and Broking)

Office: +44 (0)20 3861 6625

St Brides Partners

Financial PR Adviser

Susie Geliher/Megan Dennison

[email protected]

Office: +44 (0) 20 7236 1177


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