Funding Update

RNS Number : 8916N

Ceres Power Holdings plc

04 October 2012

 



4 October 2012

For immediate release

Not for release, publication or distribution, directly or indirectly, in whole or in part in, into, or from, any jurisdiction where to do the same would constitute a violation of the relevant laws of such jurisdiction.

Ceres Power Holdings plc

("Ceres", "Ceres Power" or "the Company")

Funding Update

Following recent announcements regarding Ceres' funding requirements, the Company announces that, despite extensive efforts it has been unsuccessful in securing sufficient funding for the business going forward. The Company will continue to explore all strategic options including a sale of the business, cancellation of the listing and in the absence of any alternative proposals commencement of an orderly wind down of the business. A further announcement will be made in due course.

Enquiries:

Ceres Power Holdings plc                                  Tel. [phone]

David Pummell, Chief Executive Officer

Rex Vevers, Finance Director

Investec Bank plc                                              Tel. [phone]

Chris Sim/James Ireland

Kreab Gavin Anderson & Company                   Tel. [phone]

Ken Cronin/Deborah Walter

 

END

 

 

MSCLFFVVITLVIIF