Business
Result of Placing and Open Offer
Result of Placing and Open Offer.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 0469B Ceres Power Holdings plc 27 March 2013 \n \n\n27 March 2013\n \nTHIS ANNOUNCEMENT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR NEW ZEALAND OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL\n \n \nCeres Power Holdings PLC\n(\"Ceres\" or the \"Company\")\n \nResult of Placing and Open Offer\n \n \nOn 12 March 2013, the Company announced details of a proposed share issue to raise proceeds of up to approximately £9.7 million before expenses by way of:\n \n· a Placing of 108,464,733 New Ordinary Shares at 8 pence per share to the Placees to raise approximately £8.7m; and\n· a further issue of up to 12,483,428 New Ordinary Shares at 8 pence per share to Qualifying Shareholders pursuant to the Open Offer to raise up to approximately £1.0m.\n \nThe Open Offer closed for acceptances at 11.00 a.m. today and has resulted in subscriptions being received for a total of 9,882,890 Open Offer Shares, representing 79.2% of the maximum shares available under the Open Offer.\n \nConsequently, the Company has conditionally raised a total of approximately £9.5 million through the Placing and Open Offer.\n \nThe Placing and Open Offer remain conditional upon, amongst other things, the approval of Shareholders at the General Meeting, to be held at 11.00 a.m. tomorrow at the offices of IP Group plc located at First Floor, 24 Cornhill, London, EC3V 3ND and upon Admission occurring by 8.00 a.m. on 2 April 2013 (or such later time and/or date as the Company may determine).\n \nApplication has been made to AIM for the admission of the 108,464,733 Placing Shares and 9,882,890 Open Offer Shares. It is expected that Admission to trading on AIM will commence at 8.00 a.m. on 2 April 2013. Following Admission, the Company will have 536,563,285 Ordinary Shares of 1 pence each in issue.\n \nThe New Ordinary Shares to be issued pursuant to the Placing and Open Offer (in uncertificated form) are expected to be credited to CREST accounts on or around 8.00 a.m. on 2 April 2013 and definitive share cer...