Block Admission Application

RNS Number : 5357C

Ceres Power Holdings plc

18 June 2019

 

18 June 2019

Ceres Power Holdings plc

("Ceres Power" or the "Company")

Block Admission Application

The Company has made an application to the London Stock Exchange Plc for a block admission of 2,009,591 Ordinary Shares of 10 pence each ("Ordinary Shares").  These Ordinary Shares will be allotted in accordance with the exercise of options under the Company's Long-Term Incentive Plan ("LTIP") and are subject to achieving certain share price and commercial targets at the point of vesting.

A two-year holding period applies to LTIP options vesting and subsequently exercised by PDMRs.

It is expected that the block admission will become effective on 21 June 2019. The Ordinary Shares, when issued, shall rank equally with the Company's existing issued Ordinary Shares.

The Company's current issued share capital will not change as a result of the block admission.

The Company expects to publish its next 6 monthly Block Listing Interim Review on or around 21 June 2019, before this block admission is effective.

For further information, please contact:

Ceres Power Holdings plc Phil Caldwell, CEO Richard Preston, CFO		Tel: [phone]
Investec Bank plc (Nominated Adviser and Broker) Jeremy Ellis / Patrick Robb / Richard Short		Tel: [phone]
Berenberg (Joint Broker) Ben Wright / Mark Whitmore		Tel: [phone]
Powerscourt Peter Ogden/James White/Niall Walsh		Tel: [phone]

Notes to Editors:

About Ceres Power

Ceres Power 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. Ceres Power's unique, patented SteelCell® 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 SteelCell® technology and know-how, combined with the opportunity to supply the SteelCell® in volume through its manufacturing partners. For further information please visit: http://www.cerespower.com/ 

 

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