Weichai equity investment and total voting rights

RNS Number : 1813K

Ceres Power Holdings plc

12 December 2018

 

12 December 2018

Ceres Power Holdings Plc

("Ceres Power" or the "Company")

£28 million Weichai Equity Investment

and Total Voting Rights

Ceres Power Holdings plc (AIM: CWR) confirms that, further to the announcement on 4 December 2018, 16,879,964 new ordinary shares of 10 pence each ("Ordinary Shares") have been allotted to Weichai Power ("Weichai"). Weichai has exercised its warrant at an exercise price of 164.5p per share investing a further £27.8 million in addition to its previous £20.3 million investment. This increases its shareholding in Ceres Power from just under 10% to 20%. The new Ordinary Shares are expected to be admitted to trading on AIM on 14 December 2018 ("Admission").

Total Voting Rights

Following the allotment of 16,879,964 new Ordinary Shares to Weichai and the exercise of share options over 195,000 new Ordinary Shares, Ceres Power confirms the Company has 152,076,657 Ordinary Shares in issue, with one voting right each. The Company does not hold any shares in treasury. The number of Ordinary Shares with voting rights will therefore be 152,076,657.

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.

 For further information, please contact:

Ceres Power Holdings plc Richard Preston, CFO		Tel: [phone]
Zeus Capital (Nominated Adviser and Broker) Andrew Jones / Dom King		Tel: [phone]
Berenberg (Joint Broker) Ben Wright / Mark Whitmore / Laure Fine		Tel: [phone]
Powerscourt Peter Ogden / Niall Walsh		Tel: [phone]

Notes to Editor:

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. The Ceres Power 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 offer 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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