15 Jul 2015 08:57
15 July 2015
Clean Air Power Limited
("Clean Air Power" or the "Company")
Issue of Equity
Clean Air Power (AIM:CAP), the developer and global leader in Dual-Fuel engine management software for heavy duty vehicles, announces that it has issued and allotted 15,000 new common shares of USD 0.001 each in the Company ("Common Shares") to an employee as an award in recognition of long service to the Company. The employee has reached thirty years of service and the award of shares is in line with the Group's policy on long-service.
Application has been made to the London Stock Exchange for the 15,000 new Common Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will take place on or around 21 July 2015. Following Admission, the Company's total issued share capital will consist of 256,864,139 Common Shares, all with voting rights. This is the figure which may be used by shareholders in the Company as the denominator for the calculations in which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
John Pettitt, Chief Executive of Clean Air Power, said: "I am delighted to recognise the significant contribution that one of our longest serving employees has made to the business over the last thirty years, demonstrating the depth of experience, talent and commitment we have within our team."
Enquiries:
Clean Air Power | Tel: +44 (0)1772 624 499 | |
John Pettitt, Chief Executive Officer | ||
Neill Skinner, Chief Financial Officer | ||
Citigate Dewe Rogerson | Tel: +44 (0)20 7282 2867 | |
Malcolm Robertson | ||
Chris Gardner | ||
Panmure Gordon | Tel: +44 (0)20 7886 2500 | |
Corporate Finance | ||
Freddy Crossley / Atholl Tweedie | ||
Corporate Broking | ||
Tom Salvesen | ||
Peat & Co | Tel: +44 (0)20 3540 1721 | |
Charlie Peat | ||
About Clean Air Power
Clean Air Power designs, develops and delivers compression-ignited natural gas engines for heavy duty transport applications and manufactures innovative hydraulic valves, injectors and filters for natural gas engines sold to truck manufacturers around the world. Clean Air Power's patented Dual-Fuel™ and second-generation MicroPilot technology enables engines to run on natural gas mixed with diesel (or any suitable combustion fuel) providing the "spark" that ignites the gas. Substituting natural gas for diesel cuts fuel costs, emissions of carbon, nitrous oxide and particulates whilst retaining the original engine's power, efficiency and reliability characteristics. Clean Air Power operates, directly or through distributor partnerships, in the US, Europe, Russia and Australia.
Initially founded in the USA in 1991, over $90m has been invested in developing the technology with the result that 62 patents are currently held or pending. The holding company of the Group is based in Bermuda with operational subsidiaries in the UK, the USA and Australia. The Group was admitted to the AIM market of the London Stock Exchange in February 2006.