CAP Clean Air

TIDMCAP

RNS Number : 3390U

Clean Air Power Limited

28 July 2015

28 July 2015

Clean Air Power Limited

("Clean Air Power" or the "Group")

Update on the Review of Strategic Options

Clean Air Power (AIM: CAP), the global leader in the development and delivery of compression-ignited natural gas systems and software for heavy duty vehicles, today provides a further update on the review of the Group's strategic options announced on 23(rd) June 2015 and following its previous update on 15(th) July 2015.

KPMG has run an exhaustive process and the Board, as advised by KPMG, remains in discussion with a number of parties that may or may not lead to an offer for all or part of the Group. However, in the event of an offer, and partly due to the short term financial constraints that the Group is operating under, the Board can provide no assurance that significant value will be returned to shareholders. Furthermore, as the Group's holding company is based in Bermuda, the Board is also considering the options available under Bermudan and local jurisdictions to execute any transaction within the timeframe set by the Group's financial position.

For further information, please contact:

 
 Clean Air Power                     Tel: +44 (0)1772 
  John Pettitt, Chief Executive       624 499 
  Neill Skinner, Chief Financial 
  Officer 
 Citigate Dewe Rogerson              Tel: +44 (0)20 
  Malcolm Robertson                   7282 2867 
  KPMG Corporate Finance              Tel: +44 (0)20 
  Jonathan Boyers                     7311 1000 
  Pinesh Mehta                        Tel: +44 (0)20 
  Panmure Gordon                      7886 2500 
  Corporate Finance                   Tel: +44 (0)20 
  Freddy Crossley / Atholl Tweedie    3540 1721 
  Corporate Broking 
  Tom Salvesen 
  Peat & Co 
  Charlie Peat 
  John Beaumont 
 

Notes to Editors

About Clean Air Power

Clean Air Power designs, develops and delivers diesel ignited natural gas engines for heavy duty transport applications. Clean Air Power's technology substantially cuts fuel costs and carbon emissions without sacrificing the original engine's characteristic efficiency or reliability. Clean Air Power is well positioned to assist corporations and governments to deliver on their environmental commitments while at the same time reducing transport operators overheads.

Initially founded in the USA in 1991, around GBP50m has been invested in developing the technology with the result that 59 patents are currently held or pending. The holding company of the Group is based in Bermuda with operational subsidiaries in the UK, the USA and Australia. The Group was admitted to the AIM market of the London Stock Exchange in February 2006.

Further information on Clean Air Power is available at www.cleanairpower.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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