Ceres Power Holdings - Director’s Dealing

11 August 2020

Ceres Power Holdings plc (AIM:CWR)

Director's Dealing

Ceres Power Holdings plc (the "Company"), a global leader in fuel cell technology and engineering, announces that Steve Callaghan, Senior Independent Director, sold 200,000 shares on 10 August 2020 at an average sale price of 507.95p. He retains 139,919 shares in the Company. 

The Company remuneration policy on PDMR shareholding is that the CEO should hold a minimum of 150% of salary in shares and exercisable share options, and all other Directors and PDMRs a minimum of 100% of salary. This policy helps to ensure that the interests of the investors remain aligned with those of Directors and management.  Following the above transaction, each PDMR retains a combined value of shareholdings and exercisable options significantly above these thresholds. 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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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.