Result of General Meeting and Directors' Interests

RNS Number : 1591B

Ceres Power Holdings plc

28 March 2013

 



28 March 2013

Ceres Power Holdings PLC

("Ceres" or the "Company")

Result of General Meeting and Directors' Interests

Ceres Power Holdings plc is pleased to announce that at the General Meeting of the Group held earlier today, all resolutions were duly passed.

Accordingly, the conditional Placing and Open Offer, first announced on 12 March 2013, are now unconditional in all respects save for the admission to trading on AIM of the 108,464,733 Placing Shares and 9,882,890 Open Offer Shares.

Application has been made to AIM for the admission of the Placing Shares and Open Offer Shares. It is expected that Admission will become effective on 2 April 2013 and that dealings will commence at 8.00 a.m. on 2 April 2013.

Following Admission, the Group will have 536,563,285 Ordinary Shares, with one voting right each, in issue. The Group does not hold any shares in treasury. Accordingly, the figure of 536,563,285 Ordinary Shares may be used by shareholders in the Group as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Group under the Financial Services Authority's Disclosure and Transparency Rules.

Directors' Interests

Following Admission, the Directors' interest in the Ordinary Shares of the Group will be as follows:

	Shareholding prior to the Placing and Open Offer	% of issued share capital held prior to the Placing and Open Offer	Total uptake under the Open Offer	Number of Placing Shares subscribed for	Shareholding following Admission	% of issued share capital held following Admission	Number of options held over Ordinary Shares
Alan Aubrey1	Nil	Nil	Nil	Nil	Nil	Nil	Nil
Steve Callaghan	2,000,000	0.48%	59,701	500,000	2,559,701	0.48%	Nil
Richard Preston	52,057	0.01%	1,553	125,000	178,610	0.03%	1,644,035
Michael Bretherton2	2,000,000	0.48%	Nil	Nil	2,000,000	0.37%	Nil
Robert Trezona1	6,898	0.00%	Nil	Nil	6,898	0.00%	Nil
Mike Lloyd	Nil	Nil	Nil	312,500	312,500	0.06%	750,000

1.     Alan Aubrey and Robert Trezona are appointees of IP2IPO Limited who have an interest in 132,500,000 ordinary shares, representing approximately 24.7% of  the Company's issued share capital.

2.     Michael Bretherton is an appointee of ORA (Guernsey) Limited who have an interest in 151,353,358 ordinary shares, representing approximately 28.2% of  the Company's issued share capital.

This announcement should be read in conjunction with the full text of the circular posted to Shareholders on 12 March 2013, copies of which are available on the Company's website at www.cerespower.com. Unless stated otherwise, capitalised terms in this announcement have the same meaning as given in the circular.

Enquiries:

Ceres Power Holdings plc Steve Callaghan, Chief Executive Richard Preston, Finance Director	Tel. [phone]
N+1 Singer  (Nominated Adviser and Broker) Andrew Craig / Ben Wright	Tel: [phone]

Notes to editors:

Ceres Power is a leading developer of clean, efficient, cost-effective fuel cell technology for use in decentralised energy products that reduce operating costs, lower CO2 emissions and improve energy security. These products use the Company's mass manufacturable technology platform, the Fuel Cell Module, based on the Company's unique patented intermediate temperature solid oxide fuel cell technology and operating on mains natural gas or in the future a range of other fuels including packaged fuels, such as LPG. The Company is listed on the AIM market of the London Stock Exchange, and has facilities in Horsham and Crawley, UK, including a pilot-scale fuel cell manufacturing facility.

 

END

 

 

MSCJPMJTMBBTBPJ