REG - Ceres Power Holdings - Director’s Dealing
RNS Number : 7129VCeres Power Holdings plc11 August 202011 August 2020
Ceres Power Holdings plc (AIM:CWR)
Director's Dealing
Ceres Power Holdings plc (the "Company"), a global leader in fuel cell technology and engineering, announces that Steve Callaghan, Senior Independent Director, sold 200,000 shares on 10 August 2020 at an average sale price of 507.95p. He retains 139,919 shares in the Company.
The Company remuneration policy on PDMR shareholding is that the CEO should hold a minimum of 150% of salary in shares and exercisable share options, and all other Directors and PDMRs a minimum of 100% of salary. This policy helps to ensure that the interests of the investors remain aligned with those of Directors and management. Following the above transaction, each PDMR retains a combined value of shareholdings and exercisable options significantly above these thresholds.
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
Stephen Callaghan
2
Reason for the notification
a)
Position/status
Non-Executive Director, Senior Independent 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
Sale of shares
c)
Price(s) and volume(s)
Sales price
Volume
507.95 pence
200,000
d)
Aggregated information
Sales price
Volume
507.95 pence
200,000
e)
Date of the transaction
10 August 2020
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.
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 or visit www.rns.com.ENDDSHGPUWGRUPUPUU
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