Grant of Share Options under the Sharesave Scheme

RNS Number : 9660S

Ceres Power Holdings plc

23 March 2016

 

23 March 2016

Ceres Power Holdings plc

("Ceres", the "Company")

Grant of Share Options under the Sharesave Scheme

Ceres announces the grant of options on 22 March 2016 under the Ceres Power Sharesave Scheme (the "Scheme").  The Scheme is an 'all employee share scheme' which is available to all employees subject to qualifying conditions, which was approved by the HM Revenue & Customs, and which was introduced to encourage wider employee share ownership of the Company.

Options to purchase a total of 6,156,652 ordinary shares of 1 pence of the Company ("Ordinary Shares") have been granted.  These options will be exercisable between 1 May 2019 and 31 October 2019 at an exercise price of 4.32p per share.

Included in the above are grants to Phil Caldwell, Richard Preston and Dr Mark Selby, the Company's Executive Directors (the  "Executive Directors"), each of whom has been granted an option to purchase 208,333 Ordinary Shares.  Following this grant the Executive Directors now hold options over 16,351,645, 4,973,774 and 3,898,774 Ordinary Shares respectively.

Ceres Power Holdings plc Phil Caldwell, CEO Richard Preston, CFO	Tel: [phone]
Zeus Capital  (Nominated Adviser and Broker) Phil Walker / Andrew Jones	Tel: [phone]
Tavistock Mike Bartlett/James Collins	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 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.

www.cerespower.com

 

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