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Weichai Power invests further £1mln in Ceres Power to keep stake at 10%

As a result of the increase in Ceres’ share capital following the Bosch’s recent equity investment, Weichai Power has stumped up a further £1mln for 663,740 shares to maintain its holding at 10%

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The number of Ceres shares in circulation now stands at 135,001,693

Ceres Power Holdings PLC (LON:CWR) has confirmed that one of its largest shareholders has paid up £1mln to keep its overall shareholding at 10%.

As a result of Bosch’s £9mln investment at the end of September, Weichai Power’s stake in the AIM-quoted fuel cell developer fell slightly.

READ: Ceres unveils collaboration deal with Bosch

It agreed with Ceres that it would buy 664,000 new shares at 150.8p apiece to top-up its investment and maintain its 10% holding.

The funds have been received and the shares issued, Ceres confirmed on Friday.

Quick facts: Ceres Power Holdings PLC

Price: 492.5 GBX

LSE:CWR
Market: LSE
Market Cap: £840.33 m
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Full interview: Ceres Power eyes expansion following new Bosch deal

This month German engineering firm Bosch increased its stake in Ceres Power Holdings (LON:CWR) to around 18% from 4% following a share subscription, netting Ceres £38mln. It was Bosch that approached Ceres too, pinpointing Ceres steel fuel cell technology as potentially the best in the...

on 24/1/20

2 min read