Transfer of majority shareholding

RNS Number : 4650V

Proton Power Systems PLC

08 April 2019

 

8 April 2019

Proton Power Systems plc

("Proton" or the "Company")

Transfer of majority shareholding

Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that it has been informed that Roundstone Properties Ltd, a company controlled by the Nahab family, has transferred all its 596,279,682 Proton shares to SFN Cleantech Investment Ltd, a company also controlled by the Nahab family. Additionally Roundstone Properties Ltd has transferred to SFN Cleantech Investment Ltd loans receivable from Proton with a face value of £16,567,505 and accrued interest thereon of £7,915,673, which is partially convertible as per the terms announced on 16 May 2017. Currently there are restrictions in place which prevent conversion of the aforementioned interest into shares.

For further information:

Proton Power Systems plc
Dr Faiz Nahab, CEO
Helmut Gierse, Chairman Sebastian Goldner, CTO/COO Roman Kotlarzewski, CFO Manfred Limbrunner, Director Sales and Marketing	Tel: [phone]
	www.protonpowersystems.com
Stockdale Securities Limited Nominated adviser and broker	Tel: [phone]
Antonio Bossi / David Coaten	www.stockdalesecurities.com

About Proton Motor Fuel Cell GmbH

Proton Motor is an expert in Power Solutions using CleanTech technologies like industrial fuel cells, fuel cell and hybrid systems with more than 20 years of experience in this sector.  Based in Puchheim near Munich, Proton Motor offers complete fuel cell and hybrid systems from a single source - from the development and production through the implementation of customized solutions.  The focus of Proton Motor is on back-to-base, for example, for mobile, marine and stationary solutions applications.  The product portfolio consists of base-fuel cell systems, standard complete systems, as well as customized systems.

Proton Motor serves IT, Telecoms, public infrastructure and healthcare customers in Germany, Europe and Middle East with power supply solutions for DC and AC power demand. In addition to power supply, SPower also offers solutions for Solar Systems as well as a new product line for Solar Energy Storage.

Proton Motor Fuel Cells GmbH is wholly owned subsidiary of Proton Power Systems plc. The Company has been listed on the London Stock Exchange since October 2006 (code: PPS).

 

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