LONDON - Ceres Power Holdings plc, a clean energy technology company, has applied for a block listing of 1.1 million Ordinary Shares to facilitate the exercise of options under its employee incentive schemes. This application to the London Stock Exchange (LON:LSEG) is expected to take effect on January 16, 2025.
The shares, to be issued in denominations of 10 pence each, will be allotted as part of the company's Long Term Incentive Plan (LTIP) and Sharesave Plan. Upon issuance, these new Ordinary Shares will be on par with the existing issued shares of Ceres Power.
Ceres Power, recognized for its electrolysis and fuel cell technologies, has positioned itself as a leader in the transition to a greener economy. The company's strategic partnerships with global industrial leaders are part of its asset-light, licensing model, which aims to expand the use of its solid oxide technology. This technology is integral to the production of green hydrogen and supports the electrification of energy systems, targeting a reduction in emissions for industries such as steelmaking and ammonia production.
The London Stock Exchange has awarded Ceres Power the Green Economy Mark, indicating that the company derives over half of its activities from the green economy. The company's shares are traded under the ticker LSE: CWR.
This move is part of the company's ongoing efforts to incentivize and reward its employees for their contributions to Ceres Power's growth and success in the clean energy sector. The information regarding this block listing application is based on a press release statement issued by the company.
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