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Ceres Power Holdings PLC

Excercise of Share Options, PDMR Dealing

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RNS Number : 6893R
Ceres Power Holdings plc
30 October 2019
 

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) 

Price(s)

Volume(s)

85.0 pence

19,576

85.4 pence

230,061

d)

Aggregated information 

Price(s)

Volume(s)

85.4 pence

249,637

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) 

Price(s)

Volume(s)

10.0 pence

92,875

d)

Aggregated information 

Price(s)

Volume(s)

10.0 pence

92,875

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) 

Price(s)

Volume(s)

87.0 pence

43,535

d)

Aggregated information 

Price(s)

Volume(s)

87.0 pence

43,535

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) 

Price(s)

Volume(s)

90.0 pence

95,777

d)

Aggregated information 

Price(s)

Volume(s)

90.0 pence

95,777

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) 

Price(s)

Volume(s)

10.0 pence

92,875

d)

Aggregated information 

Price(s)

Volume(s)

10.0 pence

92,875

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 [email protected] or visit www.rns.com.
 
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