Block Admission Application

RNS Number : 0838J

Ceres Power Holdings plc

18 December 2020

 

18 December 2020

Ceres Power Holdings plc

("Ceres Power" or the "Company")

Block Admission Application

Block Admission Application

The Company has made an application to the London Stock Exchange Plc for a block admission of 1,664,482 Ordinary Shares of 10 pence each ("Ordinary Shares"). The Ordinary Shares will be allotted in accordance with the exercise of options under the Company's 2004 Employees Share Option (as to 1,007,500 ordinary shares) and Sharesave Share Option Schemes (as to 213,982 ordinary shares) and the Company's Long-Term Incentive Plan "LTIP" (as to 443,000) which are subject to achieving certain share price and commercial targets at the point of vesting.

It is expected that the block admission will become effective on 23 December 2020. The Ordinary Shares, when issued, shall rank equally with the Company's existing issued Ordinary Shares.

The Company's current issued share capital will not change as a result of the block admission.

For further information, please contact:

Ceres Power Holdings plc Richard Preston, CFO		Tel: [phone]
Investec (NOMAD & Joint Broker) Jeremy Ellis/ Patrick Robb		Tel: [phone]
Berenberg (Joint Broker) Ben Wright / Mark Whitmore		Tel: [phone]
Powerscourt Peter Ogden/ James White		Tel:  [phone]

Notes to Editor:

About Ceres Power

Ceres is a world-leading developer of next generation solid oxide fuel cell (SOFC) and electrochemical technology. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in South Korea, to develop systems and products that  address climate change and air quality challenges for transportation, industry, data centres and everyday living. Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy.

 

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