Director's Dealing

RNS Number : 7129V

Ceres Power Holdings plc

11 August 2020

 

11 August 2020

Ceres Power Holdings plc (AIM:CWR)

Director's Dealing

Ceres Power Holdings plc (the "Company"), a global leader in fuel cell technology and engineering, announces that Steve Callaghan, Senior Independent Director, sold 200,000 shares on 10 August 2020 at an average sale price of 507.95p. He retains 139,919 shares in the Company. 

The Company remuneration policy on PDMR shareholding is that the CEO should hold a minimum of 150% of salary in shares and exercisable share options, and all other Directors and PDMRs a minimum of 100% of salary. This policy helps to ensure that the interests of the investors remain aligned with those of Directors and management.  Following the above transaction, each PDMR retains a combined value of shareholdings and exercisable options significantly above these thresholds. 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Stephen Callaghan
2	Reason for the notification
a)	Position/status	Non-Executive Director, Senior Independent Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ceres Power Holdings plc
b)	LEI	213800N7AAHSXQUOA733
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	10p ordinary shares   ISIN GB00BG5KQW09
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Sales price Volume 507.95 pence  200,000
d)	Aggregated information	Sales price Volume 507.95 pence  200,000
e)	Date of the transaction	10 August 2020
f)	Place of the transaction	N/A

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For further information, please contact:

Ceres Power Holdings plc Elizabeth Skerritt		Tel: [phone]
Investec Bank PLC (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]

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 SteelCell® technology generates power from widely available fuels such as natural gas and future fuels such as hydrogen enabling a transition from low to zero carbon power generation at high efficiency. The SteelCell® is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price. Ceres Power offers its partners the opportunity to develop power systems and products using its unique technology and know-how, as well as the opportunity to manufacture the SteelCell® in volume.

 

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