Last checked at 7 Dec 2017 07:00
7 December 2017
This announcement contains inside information
Ceres Power Holdings plc
("Ceres Power" or the "Company")
Grant of Share Options under the Sharesave Scheme
Ceres Power Holdings plc (AIM: CWR) announces the grant of options on 6 December 2017 under the Ceres Power Sharesave Scheme (the "Scheme"). The Scheme is an 'all employee share scheme' which is available annually to all employees subject to qualifying conditions, which was approved by the HM Revenue & Customs, and which was introduced to encourage wider employee share ownership of the Company.
Options to purchase a total of 2,265,603 ordinary shares of 1 pence of the Company ("Ordinary Shares") have been granted. These options will be exercisable between 1 February 2021 and 31 July 2021 at an exercise price of 10.6p per share.
Included in the above is a grant to Richard Preston, the Company's Chief Financial Officer, who has been granted an option to purchase 84,905 Ordinary Shares. Following this grant, Richard Preston now holds options over 6,830,679 Ordinary Shares.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Richard Preston | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer, Director | ||||
b) | Initial notification/Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Ceres Power Holdings plc | ||||
b) | LEI | 213800N7AAHSXQUOA733 | ||||
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 the financial instrument, type of instrument Identification code | Sharesave options over 1p ordinary shares ISIN GB00B0351429 | ||||
b) | Nature of the transaction | Grant of Share Options under the Sharesave Scheme | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information |
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e) | Date of the transaction | 6 December 2017 | ||||
f) | Place of the transaction | N/A | ||||
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Ceres Power Holdings plc Dan Caesar |
| Tel: +44 (0)1403 273 463 | ||||
Zeus Capital (Nominated Adviser and Broker) Giles Balleny /Andrew Jones/Hugh Kingsmill Moore |
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Tel: +44 (0) 20 3829 5000 | ||||
Berenberg (Joint Broker) Ben Wright / Mark Whitmore / Laure Fine |
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Tel: +44 (0) 203 207 7800 | ||||
Powerscourt Peter Ogden/Andy Jones |
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Tel: +44 (0) 20 7250 1446 | ||||
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Notes to Editors:
About Ceres Power
Ceres Power (http://www.cerespower.com/) is a world leader in low cost, next generation fuel cell technology for use in distributed power products that reduce operating costs, lower CO2, SOx and NOx emissions, increase efficiency and improve energy security. The Ceres Power unique patented Steel Cell technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price for domestic and business use.
Ceres Power offers its partners the opportunity to develop power systems and products using its unique Steel Cell technology and know-how, combined with the opportunity to supply the Steel Cell in volume through its manufacturing partners.