Result of General Meeting and Directors' Interests

RNS Number : 5736M

Ceres Power Holdings plc

14 October 2016

 

14 October 2016

This announcement contains inside information

Ceres Power Holdings PLC

("Ceres Power" or the "Company")

Result of General Meeting and Directors' Interests

Ceres Power Holdings plc (AIM: CWR), is pleased to announce that at the General Meeting of shareholders held earlier today, on 14 October 2016, at 31 Finsbury Pavement London EC2A 1NT, all resolutions were duly passed.

The results of the poll on the resolutions put at the General Meeting were as follows:

Resolution	For/ discretionary (number/%)	Against (number/%)	Votes withheld (number)	Total votes cast exc. withheld (number)	% of issued share capital represented by the votes cast
1.   Authority to allot shares pursuant to the proposed placing	615,534,652 99.99%	44,013 0.01%	3,556,610	615,578,665	79.11%
2.   Disapplication of pre-emption rights pursuant to resolution 1	615,525,515 99.99%	45,150 0.01%	3,564,610	615,570,665	79.11%
3.   Additional authority to allot shares	619,063,033 99.99%	44,013 0.01%	726,434	619,107,046	79.56%
4.   Additional disapplication of pre-emption rights	599,346,761 96.81%	19,739,114 3.19%	49,400	619,085,875	79.56%

As a result, the Placing announced on 28 September 2016 of 228,603,083 new Ordinary Shares at 8.75 pence per Ordinary Share to raise £20.0 million, is conditional only on Admission of the 16,571,428 First Placing Shares which is expected to take place on 17 October 2016 and of the 212,031,655 Second Placing Shares which is expected to take place on 18 October 2016.

Following the recent issue of 270,000 Ordinary Shares as a result of the exercise of employee share options, admission of the First Placing Shares and of the Second Placing Shares, the Company's issued share capital will consist of 1,006,730,924 Ordinary Shares. There are no Ordinary Shares held in treasury. Therefore, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that following Admission, the total number of voting rights in the Company will be 1,006,730,924.

Accordingly, these figures may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.

Directors' Interests

Following Admission, the interests in the Ordinary Shares of the Company Directors participating in the Placing will be as follows:

	Shareholding prior to the Placing	% of issued share capital held prior to the Placing	Number of Placing Shares subscribed for	Shareholding following Admission	% of issued share capital held following Admission
Steve Callaghan	3,605,650	0.46%	457,142	4,062,792	0.40%
Mike Lloyd	783,088	0.10%	285,714	1,068,802	0.11%

Unless otherwise defined, all capitalised terms in this announcement are with reference to the announcement made by Ceres Power at 1.36 p.m. on 28 September 2016.

For further information please contact:

Ceres Power Holdings plc                               Phil Caldwell, Chief Executive Officer Richard Preston, Chief Financial Officer	Tel. [phone]
Zeus Capital Limited (Nominated Adviser and Broker) Phil Walker/Andrew Jones/Hugh Kingsmill Moore	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 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.

 

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