11 July 2014

Ceres Power Holdings plc ("Ceres" or the "Company"), a world-leading developer of low cost, next generation fuel cell technology for use in distributed generation and other applications, today announces its intention to raise approximately £20.0 million (approximately £19.6 million net of expenses) by way of an oversubscribed placing.

Highlights

  • Proposed Placing to raise approximately £20.0 million through the issue of 235,705,868 Placing Shares
  • Issue price for the Placing of 8.5 pence per Placing Share
  • The Placing was to existing and new institutional investors and certain Directors and was oversubscribed

The Placing is conditional upon, inter alia, the passing of Resolutions by the Shareholders of the Company at a general meeting. If the Resolutions are passed, the Placing Shares will be allotted after the General Meeting with Admission of the Placing Shares expected to occur at 8.00 a.m. on 30 July 2014.

N+1 Singer Advisory LLP acted as Nominated Adviser and sole Broker to the Company.

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