PDMRs’ dealings, Total Voting Rights

7 April 2021

Ceres Power Holdings plc (AIM: CWR)

("Ceres Power" or the "Company")

PDMRs' dealings, Total Voting Rights

Ceres Power Holdings plc (the "Company"), a global leader in fuel cell and electrochemical technology, announces the following share transactions carried out by a Director and persons discharging managerial responsibilities (PDMRs) on 6 April 2021.

Richard Preston (Chief Financial Officer) exercised share options under the Ceres Power Sharesave Scheme and retained the shares and Tony Cochrane (Chief Commercial Officer) and Mark Selby (Chief Technology Officer), members of the executive management team, each exercised options and sold the resulting shares. 

As part of the exercise of some options by Mark Selby, he sold 18,000 Employee Shareholder Status (ESS) shares in the Company's subsidiary, Ceres Power Intermediate Holdings Ltd, which were granted as a modification to the unexercised 2004 Employees' Share Scheme options in 2013.

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 transactions, the PDMRs above each retain a combined value of shareholdings and exercisable options significantly above these thresholds.

Total Voting Rights

As at 7 April 2021, the Company's issued share comprised 186,021,467 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares and voting rights in the Company is therefore 186,021,467.

This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

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 is a world-leading developer of solid oxide electrochemical technology for applications in fuel cells and hydrogen that enables its partners to deliver clean energy at scale and speed.  Its asset-light, licensing model has seen it embed its technology in some of the world's most progressive companies - such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in South Korea - to develop systems and products that address climate change and air quality challenges for power generation, transportation and industrial applications. Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR.L) and was awarded the Green Economy Mark by the LSE, which recognises listed companies that derive more than 50% of their revenues from the green economy.