Last checked at 14 Oct 2016 09:51
14 October 2016
This announcement contains inside information
Ceres Power Holdings PLC
("Ceres Power" or the "Company")
Result of General Meeting and Directors' Interests
Ceres Power Holdings plc (AIM: CWR), is pleased to announce that at the General Meeting of shareholders held earlier today, on 14 October 2016, at 31 Finsbury Pavement London EC2A 1NT, all resolutions were duly passed.
The results of the poll on the resolutions put at the General Meeting were as follows:
Resolution | For/ discretionary (number/%) | Against (number/%) | Votes withheld (number) | Total votes cast exc. withheld (number) | % of issuedshare capital represented by the votes cast |
1. Authority to allot shares pursuant to the proposed placing | 615,534,652 99.99% | 44,013 0.01% | 3,556,610 | 615,578,665 | 79.11% |
2. Disapplication of pre-emption rights pursuant to resolution 1 | 615,525,515 99.99% | 45,150 0.01% | 3,564,610 | 615,570,665 | 79.11% |
3. Additional authority to allot shares | 619,063,033 99.99% | 44,013 0.01% | 726,434 | 619,107,046 | 79.56% |
4. Additional disapplication of pre-emption rights | 599,346,761 96.81% | 19,739,114 3.19% | 49,400 | 619,085,875 | 79.56% |
As a result, the Placing announced on 28 September 2016 of 228,603,083 new Ordinary Shares at 8.75 pence per Ordinary Share to raise £20.0 million, is conditional only on Admission of the 16,571,428 First Placing Shares which is expected to take place on 17 October 2016 and of the 212,031,655 Second Placing Shares which is expected to take place on 18 October 2016.
Following the recent issue of 270,000 Ordinary Shares as a result of the exercise of employee share options, admission of the First Placing Shares and of the Second Placing Shares, the Company's issued share capital will consist of 1,006,730,924 Ordinary Shares. There are no Ordinary Shares held in treasury. Therefore, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that following Admission, the total number of voting rights in the Company will be 1,006,730,924.
Accordingly, these figures may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.
Directors' Interests
Following Admission, the interests in the Ordinary Shares of the Company Directors participating in the Placing will be as follows:
Shareholding prior to the Placing
| % of issued share capital held prior to the Placing
| Number of Placing Shares subscribed for
| Shareholding following Admission
| % of issued share capital held following Admission
| |
Steve Callaghan | 3,605,650 | 0.46% | 457,142 | 4,062,792 | 0.40% |
Mike Lloyd | 783,088 | 0.10% | 285,714 | 1,068,802 | 0.11% |
Unless otherwise defined, all capitalised terms in this announcement are with reference to the announcement made by Ceres Power at 1.36 p.m. on 28 September 2016.
For further information please contact:
Ceres Power Holdings plc Phil Caldwell, Chief Executive Officer Richard Preston, Chief Financial Officer
| Tel. +44 (0)1403 273 463 |
Zeus Capital Limited (Nominated Adviser and Broker) Phil Walker/Andrew Jones/Hugh Kingsmill Moore
| Tel: +44 (0)20 3829 5000 |
Tavistock Mike Bartlett/James Collins | Tel: +44 (0) 20 7920 3150 |
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.