Grant of Share Options

9 Jul 2009 12:39



Ceres Power Holdings PLC (the 'Company')

Grant of Share Options

The Company announces that on 1 July 2009, Executive Directors of the 

Company were granted 'par value' share options under the Company's CHP Project Bonus Plan (the "Plan"), as approved by shareholders at the Company's Annual General Meeting held on 5th December 2008. These options have been awarded as part of the bonus payment for the successful completion of the Alpha phase of the CHP Project. Under the Plan, half of the bonus payment is payable immediately in cash and the other half is payable as par value options. 

Peter Bance, Chief Executive Officer and Rex Vevers, Finance Director were awarded options to subscribe for a total of 38,048 and 23,518 ordinary shares of £0.05 in the Company respectively at an exercise price of £0.05 per share. These options can be exercised by the Executive Director at any time after the end of the Company's financial year ending on 30 June 2012. 

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