REG - Ceres Power Holdings - Excercise of Share Options, PDMR Dealing

Ceres Power HoldingsAnnouncement

30/10/2019 16:20

RNS Number : 6893R
Ceres Power Holdings plc
30 October 2019
 


30 October 2019
Ceres Power Holdings plc (AIM:CWR)
Exercise of Share Options, PDMR Dealing
 
Ceres Power Holdings plc (the "Company"), a global leader in fuel cell technology and engineering, announces the following share transactions carried out by certain executive Directors and persons discharging managerial responsibilities (PDMRs) on 30 October 2019.
 
Members of the executive management team, Phil Caldwell (Chief Executive Officer), Richard Preston (Chief Financial Officer), James Falla (Chief Operating Officer), Tony Cochrane (Chief Commercial Officer) and Mark Selby (Chief Technology Officer), each exercised options and sold the resulting shares.
 



 


Options exercised and shares sold


Weighted average exercise price


Sale price


Options remaining after exercise


Current shareholding




Phil Caldwell


249,637


85.4p


212.27p


2,316,932


46,928




Richard Preston


92,875


10.0p


212.27p


708,395


59,641




James Falla


43,535


87.0p


212.27p


936,328


45,098




Tony Cochrane


95,777


90.0p


212.27p


788,990


-




Mark Selby


92,875


10.0p


212.27p


588,120


39,909



 
 
The options were granted between January 2013 and August 2015 under the Ceres Power Holdings plc 2004 Employees' Share Option Scheme as a key part of the Company's long-term incentive scheme to attract and retain key talent in the business.
 
This is the first time that the Board, upon the recommendation of the Remuneration Committee, has approved a window to trade thus enabling PDMRs to sell shares. It is further intended that PDMRs be periodically able to trade at timely intervals without disrupting the market, such is common market practice.
 
Following the above transactions and consistent with our remuneration policy, each Director retains a combined value of shareholdings and exercisable options above 100%, and in the case of the chief executive above 150%, of their salaries. The remuneration policy helps to ensure that the interests of investors remain aligned with those of Directors and management.
 
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


Philip Caldwell




2


Reason for the notification




a)


Position/status


Chief Executive Officer, 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


Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares




c)


Price(s) and volume(s) 





Price(s)


Volume(s)




85.0 pence


19,576




85.4 pence


230,061








d)


Aggregated information 





Price(s)


Volume(s)




85.4 pence


249,637








e)


Date of the transaction


30 October 2019




f)


Place of the transaction 


N/A



 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Richard Preston




2


Reason for the notification




a)


Position/status


Chief Financial Officer, 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


Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares




c)


Price(s) and volume(s) 





Price(s)


Volume(s)




10.0 pence


92,875








d)


Aggregated information 





Price(s)


Volume(s)




10.0 pence


92,875








e)


Date of the transaction


30 October 2019




f)


Place of the transaction 


N/A



 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


James Falla




2


Reason for the notification




a)


Position/status


Chief Operating Officer, PDMR




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


Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares




c)


Price(s) and volume(s) 





Price(s)


Volume(s)




87.0 pence


43,535








d)


Aggregated information 





Price(s)


Volume(s)




87.0 pence


43,535








e)


Date of the transaction


30 October 2019




f)


Place of the transaction 


N/A



 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Anthony Cochrane




2


Reason for the notification




a)


Position/status


Chief Commercial Officer, PDMR




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


Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares




c)


Price(s) and volume(s) 





Price(s)


Volume(s)




90.0 pence


95,777








d)


Aggregated information 





Price(s)


Volume(s)




90.0 pence


95,777








e)


Date of the transaction


30 October 2019




f)


Place of the transaction 


N/A



 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Mark Selby




2


Reason for the notification




a)


Position/status


Chief Technology Officer, PDMR




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


Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares




c)


Price(s) and volume(s) 





Price(s)


Volume(s)




10.0 pence


92,875








d)


Aggregated information 





Price(s)


Volume(s)




10.0 pence


92,875








e)


Date of the transaction


30 October 2019




f)


Place of the transaction 


N/A



 
 
- Ends -
 
For further information, please contact:
 



Ceres Power Holdings plc
Elizabeth Skerritt






Tel: +44 (0)1403 273 463




 
Investec Bank PLC (NOMAD & Joint Broker)
Jeremy Ellis / Patrick Robb






 
Tel: +44 (0)207 597 4000




 
Berenberg (Joint Broker)
Ben Wright / Mark Whitmore






 
Tel: +44 (0) 203 207 7800




 
Powerscourt
Peter Ogden / James White






 
Tel: +44 (0) 20 7250 1446



 
 
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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