REG - Ceres Power Holdings - Grant of Long Term Incentive Plan Awards <Origin Href="QuoteRef">CWR.L</Origin>

Ceres Power HoldingsAnnouncement

29/09/2016 16:25

RNS Number : 2513L
Ceres Power Holdings plc
29 September 2016
29 September 2016
Ceres Power Holdings Plc
("Ceres Power", "the Company" or "the Group")
GRANT OF LONG TERM INCENTIVE PLAN AWARDS
Ceres Power Holdings plc (AIM: CWR) announces that today, 29 September 2016, LTIP share options were awarded to Executive Directors and PDMRs of the Company as follows: 
Philip Caldwell (CEO) 6,507,000; Richard Preston (CFO) 1,302,000; Mark Selby (CTO) 1,245,000; James Falla (COO) 2,589,000; and Anthony Cochrane (CCO) 2,390,000.
These LTIP share options, of the Company's ordinary shares of 1 pence each, are nominal value options and only vest depending on achievement against certain challenging share price and commercial targets over their three year performance period. A further two year holding period in addition to the three year vesting period applies to these awards. 
For further information please contact:
Ceres Power Holdings plc
Phil Caldwell, CEO
Richard Preston, CFO
Tel: +44 (0)1403 273 463
Zeus Capital Limited (Nominated Adviser and Broker)
Phil Walker/Andrew Jones
Tel: +44 (0) 20 3829 5000
Tavistock
Mike Bartlett/James Collins
Tel: +44 (0) 20 7920 3150
Notes to Editors:
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 Steel Cell technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price for domestic and business use.
Ceres Power offers its partners the opportunity to develop power systems and products using its unique Steel Cell technology and know-how, combined with the opportunity to supply the Steel Cell in volume through its manufacturing partners.
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
N/A
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

Nominal value options over 1p ordinary shares 
ISIN GB00B0351429
b)
Nature of the transaction
Grant of Long Term Incentive Plan Awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
6,507,000
d)
Aggregated information
Price(s)
Volume(s)
N/A
6,507,000
e)
Date of the transaction
29 September 2016
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
N/A
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

Nominal value options over 1p ordinary shares 
ISIN GB00B0351429
b)
Nature of the transaction
Grant of Long Term Incentive Plan Awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
1,302,000
d)
Aggregated information
Price(s)
Volume(s)
N/A
1,302,000
e)
Date of the transaction
29 September 2016
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 Technical 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
N/A
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

Nominal value options over 1p ordinary shares 
ISIN GB00B0351429
b)
Nature of the transaction
Grant of Long Term Incentive Plan Awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
1,245,000
d)
Aggregated information
Price(s)
Volume(s)
N/A
1,245,000
e)
Date of the transaction
29 September 2016
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
N/A
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

Nominal value options over 1p ordinary shares 
ISIN GB00B0351429
b)
Nature of the transaction
Grant of Long Term Incentive Plan Awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
2,589,000
d)
Aggregated information
Price(s)
Volume(s)
N/A
2,589,000
e)
Date of the transaction
29 September 2016
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
N/A
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

Nominal value options over 1p ordinary shares 
ISIN GB00B0351429
b)
Nature of the transaction
Grant of Long Term Incentive Plan Awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
N/A
2,390,000
d)
Aggregated information
Price(s)
Volume(s)
N/A
2,390,000
e)
Date of the transaction
29 September 2016
f)
Place of the transaction
N/A

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The company news service from the London Stock Exchange
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