AFC Energy PLC, a leading provider of hydrogen power generation technologies, has announced a REX Retail Offer for its existing retail investors in the United Kingdom. The offer includes up to £2.0 million of new ordinary shares of 0.1 pence each at an issue price of 15 pence per share. The REX Retail Offer is separate from a placing and subscription for institutional investors.

The REX Retail Offer is conditional upon the completion of the Placing and the Subscription and the REX Retail Offer Shares being admitted to trading on AIM, a market operated by the London Stock Exchange plc. The offer is open to eligible investors in the United Kingdom through participating financial intermediaries and is expected to close at 5.00 p.m. on 11 June 2024, with the possibility of an extension at the company's discretion.

Participating intermediaries include AJ Bell, Hargreaves Lansdown, and interactive investor. Other retail brokers or wealth managers wishing to participate in the REX Retail Offer on behalf of existing retail shareholders should contact [email protected]. To be eligible, applicants must be a customer of a participating intermediary and a shareholder in the company as of the date of the announcement.

Eligible investors can subscribe for REX Retail Offer Shares through their broker or wealth manager, with a minimum subscription of £50 per investor. The terms and conditions, including relevant commission or fee charges, will be provided by the relevant financial intermediaries. The company reserves the right to scale back any order under the REX Retail Offer at its discretion and to reject any application for subscription without giving a reason.

Once issued, the new ordinary shares will rank pari passu in all respects with existing ordinary shares, including the right to receive all dividends and other distributions declared, made, or paid after their date of issue. The total value of the REX Retail Offer Shares available for subscription at the issue price is capped at £2.0 million. The REX Retail Offer is offered in the United Kingdom under the exemption from the requirement to publish a prospectus.