Last checked at 28 Mar 2013 13:25
28 March 2013
Ceres Power Holdings PLC
("Ceres" or the "Company")
Result of General Meeting and Directors' Interests
Ceres Power Holdings plc is pleased to announce that at the General Meeting of the Group held earlier today, all resolutions were duly passed.
Accordingly, the conditional Placing and Open Offer, first announced on 12 March 2013, are now unconditional in all respects save for the admission to trading on AIM of the 108,464,733 Placing Shares and 9,882,890 Open Offer Shares.
Application has been made to AIM for the admission of the Placing Shares and Open Offer Shares. It is expected that Admission will become effective on 2 April 2013 and that dealings will commence at 8.00 a.m. on 2 April 2013.
Following Admission, the Group will have 536,563,285 Ordinary Shares, with one voting right each, in issue. The Group does not hold any shares in treasury. Accordingly, the figure of 536,563,285 Ordinary Shares may be used by shareholders in the Group as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Group under the Financial Services Authority's Disclosure and Transparency Rules.
Directors' Interests
Following Admission, the Directors' interest in the Ordinary Shares of the Group will be as follows:
Shareholding prior to the Placing and Open Offer
| % of issued share capital held prior to the Placing and Open Offer
| Total uptake under the Open Offer
| Number of Placing Shares subscribed for
| Shareholding following Admission
| % of issued share capital held following Admission
| Number of options held over Ordinary Shares
| |
Alan Aubrey1 | Nil | Nil | Nil | Nil | Nil | Nil | Nil |
Steve Callaghan | 2,000,000 | 0.48% | 59,701 | 500,000 | 2,559,701 | 0.48% | Nil |
Richard Preston | 52,057 | 0.01% | 1,553 | 125,000 | 178,610 | 0.03% | 1,644,035 |
Michael Bretherton2 | 2,000,000 | 0.48% | Nil | Nil | 2,000,000 | 0.37% | Nil |
Robert Trezona1 | 6,898 | 0.00% | Nil | Nil | 6,898 | 0.00% | Nil |
Mike Lloyd | Nil | Nil | Nil | 312,500 | 312,500 | 0.06% | 750,000 |
1. Alan Aubrey and Robert Trezona are appointees of IP2IPO Limited who have an interest in 132,500,000 ordinary shares, representing approximately 24.7% of the Company's issued share capital.
2. Michael Bretherton is an appointee of ORA (Guernsey) Limited who have an interest in 151,353,358 ordinary shares, representing approximately 28.2% of the Company's issued share capital.
This announcement should be read in conjunction with the full text of the circular posted to Shareholders on 12 March 2013, copies of which are available on the Company's website at www.cerespower.com. Unless stated otherwise, capitalised terms in this announcement have the same meaning as given in the circular.
Enquiries:
Ceres Power Holdings plc Steve Callaghan, Chief Executive Richard Preston, Finance Director
| Tel. +44 (0)1403 273 463 |
N+1 Singer (Nominated Adviser and Broker) Andrew Craig / Ben Wright | Tel: +44 (0) 20 7496 3000 |
Notes to editors:
Ceres Power is a leading developer of clean, efficient, cost-effective fuel cell technology for use in decentralised energy products that reduce operating costs, lower CO2 emissions and improve energy security. These products use the Company's mass manufacturable technology platform, the Fuel Cell Module, based on the Company's unique patented intermediate temperature solid oxide fuel cell technology and operating on mains natural gas or in the future a range of other fuels including packaged fuels, such as LPG. The Company is listed on the AIM market of the London Stock Exchange, and has facilities in Horsham and Crawley, UK, including a pilot-scale fuel cell manufacturing facility.