Business
Proposed admission to Main Market premium segment
Proposed admission to Main Market premium segment.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n\n \nTHIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN CERES POWER HOLDINGS PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\n \n01 June 2023\nCeres Power Holdings plc\n(\"Ceres\", the \"Company\")\nNotification of proposed admission to the premium segment of the Main Market\nand cancellation of trading on AIM\nCeres, a global leader in fuel cell and electrochemical technology, announces its intention to apply for the Company's ordinary shares (\"Ordinary Shares\") to be admitted to listing on the premium listing segment of the Official List maintained by the Financial Conduct Authority (\"FCA\") (the \"Official List\") and to trading on the London Stock Exchange plc's (the \"London Stock Exchange\") main market for listed securities (\"Main Market\") (together, \"Admission\").\nCeres was admitted to AIM in 2004 and has since grown to become a global leader in fuel cell and electrochemical technology. The Board believes that obtaining a premium listing now will support the long-term strategy of the Company, further enhance the Company's profile on the international stage and make an investment in Ceres more accessible to a greater range of potential international investors.\nAdmission is subject to (i) the approval by the FCA of a Prospectus and admission to the premium listing segment of the Official List; and (ii) admission by the London Stock Exchange of the Ordinary Shares to trading on the Main Market. Subject to the satisfaction of these conditions, Admission is expected to occur, and the Company's listing on AIM to be cancelled, on a date not earlier than 29 June 2023 (being at least 20 business days after the date of this announcement) and is, in any event, expected to take place before the end of June 2023. Accordingly, the Company hereby gives notice of the intended cancellation of trading of its Ordinary Shares on AIM in accordance with Rule 41 of the AIM Rules for Companies. Ceres will make a further announcement on the status of the proposed applications for Admission, together with the timeline for Admission, in due course. Admission will be effected through an introduction of the existing ordinary shares and Ceres does not intend to raise any fun...