Ceres Power Holdings plc (LON:CWR) announced today the grant of options on 6 December 2017 under the Ceres Power Sharesave Scheme (the “Scheme”). The Scheme is an ‘all employee share scheme’ which is available annually to all employees subject to qualifying conditions, which was approved by the HM Revenue & Customs, and which was introduced to encourage wider employee share ownership of the Company.
Options to purchase a total of 2,265,603 ordinary shares of 1 pence of the Company (“Ordinary Shares”) have been granted. These options will be exercisable between 1 February 2021 and 31 July 2021 at an exercise price of 10.6p per share.
Included in the above is a grant to Richard Preston, the Company’s Chief Financial Officer, who has been granted an option to purchase 84,905 Ordinary Shares. Following this grant, Richard Preston now holds options over 6,830,679 Ordinary Shares.
Ceres Power Holdings Plc 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 Steel Cell technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price for domestic and business use.