REG - Ceres Power Holdings - Weichai Power Equity Investment

Ceres Power HoldingsAnnouncement

15/04/2020 07:01

RNS Number : 6424J
  
Ceres Power Holdings plc
  
15 April 2020
  
 

15 April 2020
Ceres Power Holdings plc
Weichai Power Equity Investment
Ceres Power Holdings plc (AIM: CWR, "Ceres", "the Company") confirms that, further to the announcement on 12 March 2020, Weichai Power has completed taking up its anti-dilution rights resulting from Bosch's equity investment, to subscribe for an additional 3,488,980 new ordinary shares of 10 pence each ("Ordinary Shares") at the same subscription price of 320p. 
The shares are expected to be admitted to trading on AIM on 16 April 2020. This investment totals £11.2 million and was completed under the provisions of the existing agreement to maintain Weichai's holding level at 20% of the issued share capital.  The allotment will be satisfied using the current shareholder authorities approved at the last Annual General Meeting.  
The aggregate proceeds of the subscriptions by Bosch and Weichai for new shares in Ceres total £49 million, adding to the Company's already strong cash position of £64.6 million as at 31 December 2019. 
Total Voting Rights
Following the allotment of 3,488,980 new Ordinary Shares to Weichai and the exercise of employee and PDMR share options, Ceres confirms that as of 15 April 2020, the Company will have 170,626,079 ordinary shares of 10 pence each in issue, with one voting right each. The Company does not hold any shares in treasury. The number of Ordinary Shares with voting rights will therefore be 170,626,079.
Accordingly, 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.Ceres.tech or contact:
 



Ceres Power Holdings plc
Elizabeth Skerritt






Tel: +44 (0)1403 273 463


 




 
Investec Bank plc (Nominated Adviser and Broker to Ceres)
Jeremy Ellis / Patrick Robb / Ben Griffiths / Cassie Herlihy






 
Tel: +44 (0)207 597 4000


 




 
Berenberg (Joint Broker to Ceres)
Ben Wright / Mark Whitmore






 
Tel: +44 (0) 203 207 7800


 




 
Powerscourt (PR Adviser to Ceres)
Peter Ogden / James White






 
Tel: +44 (0) 20 7250 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.L) 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.
 














 


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