Directors' Dealings

RNS Number : 5111W

Proton Power Systems PLC

29 July 2009

 



PROTON POWER SYSTEMS PLC 

('Proton Power' or 'the Company')

29 July 2009

Directors' Dealings

Proton Power (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, was notified that, on 28 July 2009, Roundstone Properties Limited ('Roundstone'), a company connected to Dr. Faiz Nahab, a non-executive director of the Company sold 1,100,000 ordinary shares of 1p each in the Company ('Shares') at 2p per Shares and transferred a further 200,000 Shares for no consideration. Certain of these Shares were acquired by Directors of the Company as follows:

Director	Shares acquired	Price per Share (£)	Resultant Shareholding	% Shares
Thomas Melczer	500,000	0.02	500,000	0.47%
Ali Naini*	300,000	0.02	300,000*	0.28%
John Wall	300,000	0.02	820,000	0.77%
Helmut Gierse	100,000	Free transfer	100,000	0.09%

Following these transactions, Roundstone is interested in 67,981,769 Shares, representing approximately 63.5% of the Company's issued Shares.

* In addition to the Shareholding shown above, Turquoise International Limited, of which Ali Naini, a director of the Company, is Managing Director and a major shareholder, has a direct interest of 775,000 Shares (approximately 0.73% of the issued share capital of the Company). Furthermore, Turquoise Capital LLP, of which Ali Naini is a partner, has a direct interest in 821,989 Shares (approximately 0.77% of the issued share capital of the Company); Ali Naini controls the voting rights over 505,409 of the ordinary shares held by Turquoise Capital LLP. Ali Naini therefore controls the voting rights over an aggregate further 1,280,409 Shares representing approximately 1.20% of the issued share capital of the Company. In addition, Ali Naini has, by way of a contract for difference, an economic interest in 63,233 ordinary shares.

For further information: 

Proton Power Systems plc

John Wall, Chairman                  Tel: [phone] 

Ali Naini, Deputy Chairman        Tel: [phone] 

Thomas Melczer, CEO              Tel: [phone] 

Arbuthnot Securities Limited  

Tom Griffiths / Antonio Bossi      Tel: [phone] 

About Proton Power 

Proton Power is a developer and manufacturer of fuel cells and fuel cell hybrid systems for motive and stationary power supply. Its sales-driven strategy focuses on identifying applications with the greatest market needs and supplying large volumes of cost-competitive systems to fulfil those needs. Proton Power is gaining access to a broad range of markets through partnerships with leading OEMs such as Skoda Electric, in addition to contract manufacturers such as Deutsche Mechatronics. 

Proton Power's motive applications include forklifts, city buses, municipal utility vehicles, commercial vehicles and ferries. Stationary applications focus on the Uninterruptible Power Supply ('UPS') sector, where there is a large demand for mission-critical, grid-independent secure power supply in places such as telecommunications stations, data centres, hospitals, and power substations. 

Through its wholly owned subsidiary, Proton Motor Fuel Cell GmbH ('Proton Motor'), the group has developed and deployed fuel cell modules that can be integrated with energy storage media to create hybrid fuel cell systems. Proprietary, intelligent energy management software balances the power output across the system to maximise efficiency and improve power delivery. The system therefore boasts lower fuel consumption and more consistent levels of power delivery than conventional diesel/combustion engine or fuel cell-only systems, while producing zero harmful emissions. 

Proton Power was admitted to trading on AIM on 31 October 2006 and is incorporated in the UK. Proton Motor has more than 15 years of experience in the fuel cell market and is located in Puchheim, near Munich, Germany. 

www.protonpowersystems.com

 

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