Ceres Power Holdings plc Issue of Equity (1782Z)
May 19 2021 - 07:34AM
UK Regulatory
TIDMCWR
RNS Number : 1782Z
Ceres Power Holdings plc
19 May 2021
19 May 2021
Ceres Power Holdings plc
Weichai Power Equity Investment
Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company")
(AIM:CWR), a global leader in fuel cell and electrochemical
technology, confirms that further to the announcement on 18 March
2021, Weichai Power Hong Kong International Development Co. Limited
("Weichai") has received the necessary PRC governmental approvals
relating to its participation in the Company's Placing and Offer
for Subscription. Weichai has therefore subscribed for an
additional 4,099,951 new ordinary shares of 10 pence each
("Ordinary Shares") at the same subscription price of 1,060p (the
"Weichai Subscription").
Application has been made to the London Stock Exchange for the
Weichai Subscription shares to be admitted to trading on AIM.
Admission is expected to take place, and dealings on AIM are
expected to commence, at 8.00am on 20 May 2021. The Shares will,
upon issue, rank pari passu in all respects with the existing
ordinary shares of 10 pence each in the capital of the Company.
This investment totals GBP43.5 million and was completed under
the anti-dilution provisions of the existing agreement to maintain
Weichai's holding at 20% of the Company's issued share capital. The
allotment will be satisfied using the current shareholder
authorities approved at the last Annual General Meeting.
Total Voting Rights
On admission of the 4,099,951 new Ordinary Shares and following
the exercise of employee share options, Ceres confirms that as of
19 May the Company's issued share comprised 190,389,356 Ordinary
Shares, with one voting right per share. The Company does not hold
any Ordinary Shares in treasury. The total number of Ordinary
Shares and voting rights in the Company is therefore
190,389,356.
Accordingly, these figures may be used by shareholders as the
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.Ceres.tech or contact:
Ceres Power Holdings plc
Elizabeth Skerritt Tel: +44 (0)7932 023 283
Patrick Yau Tel: +44 (0)7884 654 179
Investec Bank plc (NOMAD & Joint
Broker) Tel: +44 (0)207 597 5970
Jeremy Ellis / Patrick Robb / Ben
Griffiths
Berenberg (Joint Broker)
Ben Wright / Mark Whitmore Tel: +44 (0)203 207 7800
Madano
Harry Spencer/ Lewis Popplewell Tel: +44 (0)20 7250 1446
About Ceres
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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