REG - Ceres Power Holdings - Proposed admission to Main Market premium segment

Ceres Power HoldingsAnnouncement

01/06/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230601:nRSA2459Ba&default-theme=true

RNS Number : 2459B  Ceres Power Holdings plc  01 June 2023

 

THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR
OTHERWISE ACQUIRE SHARES IN CERES POWER HOLDINGS PLC IN ANY JURISDICTION IN
WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

01 June 2023

Ceres Power Holdings plc

("Ceres", the "Company")

Notification of proposed admission to the premium segment of the Main Market

and cancellation of trading on AIM

Ceres, a global leader in fuel cell and electrochemical technology, announces
its intention to apply for the Company's ordinary shares ("Ordinary Shares")
to be admitted to listing on the premium listing segment of the Official List
maintained by the Financial Conduct Authority ("FCA") (the "Official List")
and to trading on the London Stock Exchange plc's (the "London Stock
Exchange") main market for listed securities ("Main Market") (together,
"Admission").

Ceres was admitted to AIM in 2004 and has since grown to become a global
leader in fuel cell and electrochemical technology. The Board believes that
obtaining a premium listing now will support the long-term strategy of the
Company, further enhance the Company's profile on the international stage and
make an investment in Ceres more accessible to a greater range of potential
international investors.

Admission is subject to (i) the approval by the FCA of a Prospectus and
admission to the premium listing segment of the Official List; and (ii)
admission by the London Stock Exchange of the Ordinary Shares to trading on
the Main Market. Subject to the satisfaction of these conditions, Admission is
expected to occur, and the Company's listing on AIM to be cancelled, on a date
not earlier than 29 June 2023 (being at least 20 business days after the date
of this announcement) and is, in any event, expected to take place before the
end of June 2023. Accordingly, the Company hereby gives notice of the intended
cancellation of trading of its Ordinary Shares on AIM in accordance with Rule
41 of the AIM Rules for Companies. Ceres will make a further announcement on
the status of the proposed applications for Admission, together with the
timeline for Admission, in due course. Admission will be effected through an
introduction of the existing ordinary shares and Ceres does not intend to
raise any funds or offer any new securities in connection with Admission or
the publication of the related Prospectus.

Admission is not expected to be conditional upon any shareholder approval.
Ceres shareholders should consult their own professional advisors regarding
the consequences of Admission on their personal tax position.

Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg") is acting as
Sponsor to the Company in connection with Admission.

Phil Caldwell, Chief Executive Officer of Ceres Power, said:

"Over 20 years, Ceres has grown to become one of the UK's most important clean
energy technology companies. As a Board we believe the time is right to take
our next step to a Premium Listing and the UK's highest standards of
regulation and corporate governance, reflecting our growth in international
partnerships, our widening investor base and the ambition for our technology
to play a vital role in decarbonising the global energy system."

 

Enquiries and further information

 Ceres Power Holdings plc                         +44 (0) 7752 470802

 Marianne Millard (Deputy Company Secretary)

 Berenberg (Sponsor & Joint Broker)               +44 (0)20 3207 7800
 Ben Wright/ Mark Whitmore/ Ciaran Walsh

 Investec Bank PLC (NOMAD & Joint Broker)        +44 (0)207 597 5970
 James Rudd/ Patrick Robb/ Ben Griffiths

 FTI Consulting (PR Adviser)                     +44 (0)203 727 1000
 Dwight Burden/ Ben Brewerton                  Email:ceres_power@fticonsulting.com

 

 

About Ceres

Ceres is a world-leading developer of electrochemical technologies: fuel cells
for power generation, electrolysis for the creation of green hydrogen and
energy storage. 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 Korea, to develop systems and products that address climate change
for power generation, 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.

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STREAXSFDEXDEFA