Excercise of Share Options, PDMR Dealing
30 October 2019
Ceres Power Holdings plc (AIM:CWR)
Exercise of Share Options, PDMR Dealing
Ceres Power Holdings plc (the "Company"), a global leader in fuel cell technology and engineering, announces the following share transactions carried out by certain executive Directors and persons discharging managerial responsibilities (PDMRs) on 30 October 2019.
Members of the executive management team, Phil Caldwell (Chief Executive Officer), Richard Preston (Chief Financial Officer), James Falla (Chief Operating Officer), Tony Cochrane (Chief Commercial Officer) and Mark Selby (Chief Technology Officer), each exercised options and sold the resulting shares.
|
|
Options exercised and shares sold |
Weighted average exercise price |
Sale price |
Options remaining after exercise |
Current shareholding |
|
Phil Caldwell |
249,637 |
85.4p |
212.27p |
2,316,932 |
46,928 |
|
Richard Preston |
92,875 |
10.0p |
212.27p |
708,395 |
59,641 |
|
James Falla |
43,535 |
87.0p |
212.27p |
936,328 |
45,098 |
|
Tony Cochrane |
95,777 |
90.0p |
212.27p |
788,990 |
- |
|
Mark Selby |
92,875 |
10.0p |
212.27p |
588,120 |
39,909 |
The options were granted between January 2013 and August 2015 under the Ceres Power Holdings plc 2004 Employees' Share Option Scheme as a key part of the Company's long-term incentive scheme to attract and retain key talent in the business.
This is the first time that the Board, upon the recommendation of the Remuneration Committee, has approved a window to trade thus enabling PDMRs to sell shares. It is further intended that PDMRs be periodically able to trade at timely intervals without disrupting the market, such is common market practice.
Following the above transactions and consistent with our remuneration policy, each Director retains a combined value of shareholdings and exercisable options above 100%, and in the case of the chief executive above 150%, of their salaries. The remuneration policy helps to ensure that the interests of investors remain aligned with those of Directors and management.
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 |
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 |
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 |
Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information |
|
||||||
|
e) |
Date of the transaction |
30 October 2019 |
||||||
|
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 |
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 |
Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information |
|
||||
|
e) |
Date of the transaction |
30 October 2019 |
||||
|
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 |
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 |
Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information |
|
||||
|
e) |
Date of the transaction |
30 October 2019 |
||||
|
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 |
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 |
Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information |
|
||||
|
e) |
Date of the transaction |
30 October 2019 |
||||
|
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 Technology 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 |
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 |
Exercise of Share Options under the Ceres Power 2004 Employees Share Option Scheme and the sale of the resulting shares |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information |
|
||||
|
e) |
Date of the transaction |
30 October 2019 |
||||
|
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.
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