Grant of Long Term Incentive Plan Awards

RNS Number : 7499S

Ceres Power Holdings plc

05 October 2017

 

5 October 2017

Ceres Power Holdings Plc

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

GRANT OF LONG TERM INCENTIVE PLAN AWARDS

Ceres Power Holdings plc (AIM: CWR) announces that today, 5 October 2017, LTIP share options were awarded to Executive Directors and PDMRs of the Company as follows: 

Philip Caldwell (CEO) 870,000; Richard Preston (CFO) 470,000; Mark Selby (CTO) 470,000; James Falla (COO) 470,000; and Anthony Cochrane (CCO) 470,000.

These LTIP share options, of the Company's ordinary shares of 1 pence each, are nominal value options and only vest depending on achievement against certain challenging share price and commercial targets over their three year performance period.  A further two year holding period in addition to the three year vesting period applies to these awards. 

For further information please contact:

Ceres Power Holdings plc Dan Caesar	Tel: [phone]
Zeus Capital Limited (Nominated Adviser and Broker) Giles Balleny /Andrew Jones/Hugh Kingsmill Moore	Tel: [phone]
Berenberg (Joint Broker) Ben Wright / Mark Whitmore / Laure Fine	Tel: [phone]
Powerscourt Peter Ogden/Andy Jones	Tel: [phone]

Notes to Editors:

About Ceres Power

Ceres Power (http://www.cerespower.com/) 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. The Ceres Power unique patented Steel Cell 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 Steel Cell technology and know-how, combined with the opportunity to supply the Steel Cell in volume through its manufacturing partners. 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Philip Caldwell
2	Reason for the notification
a)	Position/status	Chief Executive Officer, Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ceres Power Holdings plc
b)	LEI	213800N7AAHSXQUOA733
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Nominal value options over 1p ordinary shares ISIN GB00B0351429
b)	Nature of the transaction	Grant of Long Term Incentive Plan Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 870,000
d)	Aggregated information	Price(s) Volume(s) N/A 870,000
e)	Date of the transaction	5 October 2017
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Richard Preston
2	Reason for the notification
a)	Position/status	Chief Financial Officer, Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ceres Power Holdings plc
b)	LEI	213800N7AAHSXQUOA733
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Nominal value options over 1p ordinary shares ISIN GB00B0351429
b)	Nature of the transaction	Grant of Long Term Incentive Plan Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 470,000
d)	Aggregated information	Price(s) Volume(s) N/A 470,000
e)	Date of the transaction	5 October 2017
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mark Selby
2	Reason for the notification
a)	Position/status	Chief Technical Officer, Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ceres Power Holdings plc
b)	LEI	213800N7AAHSXQUOA733
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Nominal value options over 1p ordinary shares ISIN GB00B0351429
b)	Nature of the transaction	Grant of Long Term Incentive Plan Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 470,000
d)	Aggregated information	Price(s) Volume(s) N/A 470,000
e)	Date of the transaction	5 October 2017
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	James Falla
2	Reason for the notification
a)	Position/status	Chief Operating Officer, PDMR
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ceres Power Holdings plc
b)	LEI	213800N7AAHSXQUOA733
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Nominal value options over 1p ordinary shares ISIN GB00B0351429
b)	Nature of the transaction	Grant of Long Term Incentive Plan Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 470,000
d)	Aggregated information	Price(s) Volume(s) N/A 470,000
e)	Date of the transaction	5 October 2017
f)	Place of the transaction	N/A

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Anthony Cochrane
2	Reason for the notification
a)	Position/status	Chief Commercial Officer, PDMR
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ceres Power Holdings plc
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Nominal value options over 1p ordinary shares ISIN GB00B0351429
b)	Nature of the transaction	Grant of Long Term Incentive Plan Awards
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 470,000
d)	Aggregated information	Price(s) Volume(s) N/A 470,000
e)	Date of the transaction	5 October 2017
f)	Place of the transaction	N/A

 

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