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Pin to quick picksCeres Power Regulatory News (CWR)

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Withdrawal of AGM Resolution 17 and Resolution 18

12 May 2023 14:10

RNS Number : 3022Z
Ceres Power Holdings plc
12 May 2023
 

12 May 2023

Ceres Power Holdings plc

("Ceres Power" or "the Company")

 

Withdrawal of Annual General Meeting ("AGM") Resolution 17 and Resolution 18

 

Withdrawal of AGM Resolution 17 and Resolution 18

The Board of Ceres Power today announces that it has decided to withdraw Resolution 17 and Resolution 18 from the agenda of the AGM of the Company's shareholders to be held at 10.00am London time on Thursday, 18 May 2023.

Resolution 17 proposed the partial disapplication of pre-emption rights in order for the Board to allot equity securities of up to 12% (10% plus 2% follow on for a retail offer) of the Company's current share capital for cash.

Resolution 18 proposed the partial disapplication of pre-emption rights in order for the Board to allot equity securities of up to 12% (10% plus 2% follow on for a retail offer) of the Company's current share capital for cash in connection with an acquisition or specified capital investment.

Resolution 17 and Resolution 18 followed the provisions of the Pre-Emption Group's 2022 Statement of Principles for the disapplication of pre-emption rights. The Board had proposed Resolution 17 and Resolution 18 as it considered the flexibility afforded by this authority to be in the best interests of the Company.

However, since publication of the Notice of AGM on 13 April 2023, certain of the Company's shareholders have expressed concerns regarding the proposed resolutions, given that the Company does not need the flexibility to raise additional capital. In light of these concerns the Board has decided to withdraw Resolution 17 and Resolution 18 from the agenda of the AGM. The Board will consider further engagement with shareholders on this matter in the future.

The withdrawal of Resolution 17 and Resolution 18 does not affect the validity of the Notice of AGM, the proxy form or any proxy votes already submitted in respect of the remaining resolutions to be proposed at the AGM. The numbering of all other proposed resolutions at the AGM remains unchanged.

Arrangements for the AGM are unchanged from those previously notified.

 

For further information visit www.ceres.tech or contact:

Ceres Power Holdings plc

Marianne Millard (Deputy Company Secretary)

 

Tel: +44 (0)7752 470802

Investec Bank PLC (NOMAD & Joint Broker)

James Rudd / Patrick Robb/ Ben Griffiths

 

Tel: +44 (0)207 597 5970

Berenberg (Joint Broker)

Ben Wright/ Mark Whitmore

 

Tel: +44 (0)203 207 7800

FTI Consulting (PR Adviser)

Dwight Burden

Tel: +44 (0)203 727 1000

Email: ceres_power@fticonsulting.com

 

About Ceres Power

Ceres is a world-leading developer of electrochemical technologies: fuel cells for power generation, electrolysis for the creation of green hydrogen and energy storage. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in Korea, to develop systems and products that address climate change for power generation, transportation, industry, data centres and everyday living. Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy.

 

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STREADSAFENDEFA
Date   Source Headline
1st Feb 20197:00 amRNSTotal Voting Rights
21st Dec 20187:00 amRNSHolding(s) in Company
21st Dec 20187:00 amRNSBlock Listing Return
14th Dec 201812:17 pmRNSBlock Admission Application
14th Dec 201811:45 amRNSHolding(s) in Company
12th Dec 20187:00 amRNSWeichai equity investment and total voting rights
11th Dec 20183:19 pmRNSDirector's Dealing
6th Dec 20187:05 amRNSDirectorate Change
6th Dec 20187:00 amRNSTrading Update
5th Dec 20184:28 pmRNSResult of AGM
4th Dec 20187:00 amRNSFinalised strategic collaboration, JV with Weichai
3rd Dec 20188:29 amRNSStatement regarding Weichai
12th Nov 20181:23 pmRNSNotice of Annual General Meeting
11th Oct 20187:00 amRNSGrant of Long Term Incentive Plan
11th Oct 20187:00 amRNSHolding(s) in Company
9th Oct 201812:38 pmRNSHolding(s) in Company
9th Oct 20187:00 amRNSFinal Results
8th Oct 20187:00 amRNSNew Fuel Cell Manufacturing Facility Launched
5th Oct 20187:00 amRNSWeichai Equity Investment / Total Voting Rights
26th Sep 20181:32 pmRNSTotal Voting Rights
25th Sep 20187:00 amRNSBoard Changes
24th Sep 20187:00 amRNSBosch £9 Million Equity Investment
11th Sep 20189:05 amRNSNotice of Final Results and Annual General Meeting
21st Aug 20187:00 amRNSBosch strategic collaboration, equity investment
7th Aug 20187:00 amRNSShare consolidation
2nd Aug 201811:30 amRNSHolding(s) in Company
2nd Aug 20187:00 amRNS£7m UK funding won for EV application with Nissan
31st Jul 20188:40 amRNSTR-1: NOTIFICATION
31st Jul 20187:00 amRNSDirector Retirement
30th Jul 20184:45 pmRNSHolding(s) in Company
27th Jul 20184:01 pmRNSAdmission to trading of new ordinary shares
20th Jul 20181:20 pmRNSResult of General Meeting
11th Jul 20183:10 pmRNSDirector/PDMR Shareholding
4th Jul 20187:00 amRNSCeres Power completes £20.0 million fundraising
3rd Jul 20184:47 pmRNSProposed Placing to raise approximately £20m
3rd Jul 20183:13 pmRNSTotal Voting Rights
25th Jun 20187:00 amRNSWeichai Power Strategic Investment Approved
21st Jun 20187:00 amRNSBlock Listing Return
16th May 20187:00 amRNSStrategic Partnership with Weichai Power
11th May 20187:00 amRNSTotal Voting Rights
20th Mar 20187:00 amRNSHalf-year Report
5th Mar 20183:00 pmRNSNotice of Results
1st Mar 20187:00 amRNSTechnology Update
16th Feb 20185:50 pmRNSTR-1: Notification of Major Holdings
10th Jan 20187:00 amRNSCeres Power Signs Fifth Development Partner
20th Dec 20177:00 amRNSBlock Listing Return
15th Dec 20177:21 amRNSTrading Update
14th Dec 20173:30 pmRNSBlock Admission Application & Total Voting Rights
7th Dec 20177:00 amRNSGrant of Share Options under the Sharesave Scheme
7th Dec 20177:00 amRNSResult of AGM

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