Ceres Power Holdings Plc, a UK-based fuel cell technology and engineering company, has confirmed that 5.9 million new ordinary shares of $0.13 each have been allotted to German engineering and electronics company Robert Bosch GmbH at the then agreed subscription price of $197.42 and are expected to be admitted to trading on the Alternative Investment Market on 25 September 2018.
This investment totals 9 million pounds ($11.7 million) and its holding will equate to approximately 4.4 percent of the expanded issued share capital.
As a result of the Bosch equity investment, Chinese diesel engines manufacturer Weichai Power, under the provisions of the existing contract and in order to maintain its current holding level of 10 percent of the issued share capital, will invest a further $1.3 million to subscribe for an additional 663,740 ordinary shares at the same price.
This additional Weichai subscription is due to complete in October 2018. These issuances will be satisfied using the current shareholder authorities approved at the last general meeting.