Ceres Power Holdings plc Bosch Completes Equity Investment (7650F)
March 12 2020 - 2:00AM
UK Regulatory
TIDMCWR
RNS Number : 7650F
Ceres Power Holdings plc
12 March 2020
12 March 2020
Ceres Power Holdings plc
Bosch Completes Equity Investment
Ceres Power Holdings plc (AIM: CWR, "Ceres", "the Company")
confirms that, further to the announcement on 22 January 2020,
11,888,070 new ordinary shares of 10 pence each ("Ordinary Shares")
will be allotted to Robert Bosch GmbH at the then agreed
subscription price of 320p. Application has been made and the
shares will be admitted to trading on AIM on 13 March 2020
("Admission").
This will increase Bosch's holding from 11.8% of the existing
share capital to approximately 18.0% of the enlarged issued share
capital. The issuance will be satisfied under the current
shareholder authorities approved at the last General Meeting.
As highlighted in the announcement on 22 January 2020, Weichai
Power ("Weichai") has the option to maintain its holding at 20% of
the issued share capital. Weichai has confirmed that it will
exercise its anti-dilution rights to subscribe for an additional
3,488,980 Ordinary Shares at the subscription price of 320p. This
will maintain its shareholding at 20% of the subsequently enlarged
issued share capital. This additional Weichai subscription is due
to complete by mid-April 2020 and will be confirmed by RNS at that
time.
The aggregate proceeds of the subscriptions by Bosch and Weichai
for new shares in Ceres will total GBP49 million.
Following the allotment of the above Bosch subscription and the
exercise of share options since January, Ceres confirms that on
Admission on 13 March 2020, the Company will have 167,074,420
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 on 13 March 2020 will therefore be 167,074,420.
Accordingly, until the issue of shares pursuant to the additional
Weichai subscription due to complete by mid-April 2020, 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 visit www.Cerespower.com or contact:
Ceres Power Holdings plc Tel: +44 (0)1403 273
Elizabeth Skerritt 463
Investec Bank plc (Nominated Adviser Tel: +44 (0) 20 7597
and Broker to Ceres) 4000
Jeremy Ellis / Patrick Robb / Ben
Griffiths / Cassie Herlihy
Berenberg (Joint Broker to Ceres) Tel: +44 (0) 20 3207
Ben Wright / Mark Whitmore 7800
Powerscourt (PR adviser to Ceres) Tel: +44 (0) 207 250
Peter Ogden/James White 1446
About Ceres Power
Ceres is a world-leading developer of fuel cell and
electrochemical technology that enables its partners to deliver
clean energy at scale and speed. Its asset-light, licensing model
has seen it embed its technology in some of the world's most
progressive 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 was awarded the Green Economy Mark by LSE, which
recognises listed companies that derive more than 50% of their
revenues from the green economy.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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