TIDMCWR

RNS Number : 7499S

Ceres Power Holdings plc

05 October 2017

5 October 2017

Ceres Power Holdings Plc

("Ceres Power", "the Company" or "the Group")

GRANT OF LONG TERM INCENTIVE PLAN AWARDS

Ceres Power Holdings plc (AIM: CWR) announces that today, 5 October 2017, LTIP share options were awarded to Executive Directors and PDMRs of the Company as follows:

Philip Caldwell (CEO) 870,000; Richard Preston (CFO) 470,000; Mark Selby (CTO) 470,000; James Falla (COO) 470,000; and Anthony Cochrane (CCO) 470,000.

These LTIP share options, of the Company's ordinary shares of 1 pence each, are nominal value options and only vest depending on achievement against certain challenging share price and commercial targets over their three year performance period. A further two year holding period in addition to the three year vesting period applies to these awards.

For further information please contact:

 
 Ceres Power Holdings plc             Tel: +44 (0)1403 
  Dan Caesar                           273 463 
  Zeus Capital Limited (Nominated      Tel: +44 (0) 20 3829 
   Adviser and Broker)                  5000 
   Giles Balleny /Andrew Jones/Hugh 
   Kingsmill Moore 
  Berenberg (Joint Broker) 
   Ben Wright / Mark Whitmore           Tel: +44 (0) 203 
   / Laure Fine                         207 7800 
  Powerscourt                          Tel: +44 (0) 20 7250 
   Peter Ogden/Andy Jones               1446 
 
 

Notes to Editors:

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 Steel Cell technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price for domestic and business use.

Ceres Power offers its partners the opportunity to develop power systems and products using its unique Steel Cell technology and know-how, combined with the opportunity to supply the Steel Cell in volume through its manufacturing partners.

 
 1     Details of the person discharging managerial responsibilities/person closely associated 
----  ----------------------------------------------------------------------------------------------- 
 a)    Name                                           Philip Caldwell 
----  ---------------------------------------------  ------------------------------------------------ 
 2     Reason for the notification 
----  ----------------------------------------------------------------------------------------------- 
                                                      Chief Executive Officer, Director 
  a)    Position/status 
----  ---------------------------------------------  ------------------------------------------------ 
 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                             Nominal value options over 1p 
        financial instrument,                          ordinary shares 
        type of instrument                             ISIN GB00B0351429 
 
        Identification code 
----  ---------------------------------------------  ------------------------------------------------ 
 b)    Nature of the transaction                      Grant of Long Term Incentive Plan 
                                                       Awards 
----  ---------------------------------------------  ------------------------------------------------ 
 c)    Price(s) and volume(s)                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       870,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       870,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 e)    Date of the transaction                        5 October 2017 
----  ---------------------------------------------  ------------------------------------------------ 
 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 
----  ----------------------------------------------------------------------------------------------- 
                                                      Chief Financial Officer, Director 
  a)    Position/status 
----  ---------------------------------------------  ------------------------------------------------ 
 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                             Nominal value options over 1p 
        financial instrument,                          ordinary shares 
        type of instrument                             ISIN GB00B0351429 
 
        Identification code 
----  ---------------------------------------------  ------------------------------------------------ 
 b)    Nature of the transaction                      Grant of Long Term Incentive Plan 
                                                       Awards 
----  ---------------------------------------------  ------------------------------------------------ 
 c)    Price(s) and volume(s)                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 e)    Date of the transaction                        5 October 2017 
----  ---------------------------------------------  ------------------------------------------------ 
 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 
----  ----------------------------------------------------------------------------------------------- 
                                                      Chief Technical Officer, Director 
  a)    Position/status 
----  ---------------------------------------------  ------------------------------------------------ 
 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                             Nominal value options over 1p 
        financial instrument,                          ordinary shares 
        type of instrument                             ISIN GB00B0351429 
 
        Identification code 
----  ---------------------------------------------  ------------------------------------------------ 
 b)    Nature of the transaction                      Grant of Long Term Incentive Plan 
                                                       Awards 
----  ---------------------------------------------  ------------------------------------------------ 
 c)    Price(s) and volume(s)                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 e)    Date of the transaction                        5 October 2017 
----  ---------------------------------------------  ------------------------------------------------ 
 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 
----  ----------------------------------------------------------------------------------------------- 
                                                      Chief Operating Officer, PDMR 
  a)    Position/status 
----  ---------------------------------------------  ------------------------------------------------ 
 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                             Nominal value options over 1p 
        financial instrument,                          ordinary shares 
        type of instrument                             ISIN GB00B0351429 
 
        Identification code 
----  ---------------------------------------------  ------------------------------------------------ 
 b)    Nature of the transaction                      Grant of Long Term Incentive Plan 
                                                       Awards 
----  ---------------------------------------------  ------------------------------------------------ 
 c)    Price(s) and volume(s)                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 e)    Date of the transaction                        5 October 2017 
----  ---------------------------------------------  ------------------------------------------------ 
 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 
----  ----------------------------------------------------------------------------------------------- 
                                                      Chief Commercial Officer, PDMR 
  a)    Position/status 
----  ---------------------------------------------  ------------------------------------------------ 
 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                                            N/A 
----  ---------------------------------------------  ------------------------------------------------ 
 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                             Nominal value options over 1p 
        financial instrument,                          ordinary shares 
        type of instrument                             ISIN GB00B0351429 
 
        Identification code 
----  ---------------------------------------------  ------------------------------------------------ 
 b)    Nature of the transaction                      Grant of Long Term Incentive Plan 
                                                       Awards 
----  ---------------------------------------------  ------------------------------------------------ 
 c)    Price(s) and volume(s)                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 d)    Aggregated information                                      Price(s)    Volume(s) 
                                                                   ----------  ---------- 
                                                                       N/A       470,000 
                                                                   ----------  ---------- 
----  ---------------------------------------------  ------------------------------------------------ 
 e)    Date of the transaction                        5 October 2017 
----  ---------------------------------------------  ------------------------------------------------ 
 f)    Place of the transaction                       N/A 
----  ---------------------------------------------  ------------------------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 05, 2017 02:00 ET (06:00 GMT)

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