Ceres Power Receives Additional Investment from Weichai Power
Ceres Power Receives Additional Investment from Weichai Power
author Added by FuelCellsWorks, September 24, 2018

Ceres Power Holdings plc (AIM: CWR) confirms that, further to the announcement on 21 August 2018, 5,973,660 new ordinary shares of 10 pence each ("Ordinary Shares") have been allotted to Robert Bosch GmbH at the then agreed subscription price of 150.8p and are expected to be admitted to trading on AIM on 25 September 2018. This investment totals £9.0 million and its holding will equate to approximately 4.4% of the expanded issued share capital. 

As a result of the Bosch equity investment, Weichai Power, under the provisions of the existing contract and in order to maintain its current holding level of 10% of the issued share capital, will invest a further £1 million to subscribe for an additional 663,740 Ordinary Shares at the same price. This additional Weichai subscription is due to complete in October 2018. 

These issuances will be satisfied using the current shareholder authorities approved at the last General Meeting.