CAP Clean Air

 

TIDMCAP 
 
RNS Number : 8303I 
Clean Air Power Limited 
18 March 2010 
 

 
+------------------------------+----------------------------------+ 
| For Immediate Release        |                    18 March 2010 | 
+------------------------------+----------------------------------+ 
 
 
                              Clean Air Power Ltd 
 
                       ("Clean Air Power" or "the Company") 
 
                               Holding in Company 
 
On 16 November 2009, Clean Air Power Limited (the "Company") announced a Notice 
of Special Meeting proposing a shareholder vote to effect the transfer of 
18,453,450 common shares of US $0.001 each ("Common Shares") in the capital of 
the Company from Endeavor Opportunity Partners, L.P. ("Endeavor") to CSFB 
Strategic Partners Holdings II, L.P. ("CSSP").  This was passed at the Special 
Meeting on 3 December 2009.  Following that Special Meeting, CSSP and an 
affiliate of Endeavor, Endeavor Opportunity Partners II, L.P. ("Endeavor II"), 
agreed that Endeavor II was due 149,392 Common Shares and warrants to purchase 
74,696 Common Shares at an exercise price of GBP0.3266 per Common Share (the 
"Transferred Shares and Warrants"). 
 
The Company was informed today that CSSP has completed the transfer to Endeavor 
II of the Transferred Shares and Warrants. Following this transfer, CSSP will 
continue to hold 18,304,058 Common Shares and warrants to purchase 6,732,557 
Common Shares, as further described below. 
 
Following this transaction, CSSP holds the following Common Shares of US$0.001: 
 
+--------------------+--------------------+--------------------+ 
|                    |   Number of shares |       Total voting | 
|                    |                    |             rights | 
+--------------------+--------------------+--------------------+ 
| Common Shares:     |                    |                    | 
| BMG2287M1047       |         18,304,058 |             32.81% | 
+--------------------+--------------------+--------------------+ 
 
In addition, CSFB holds the following Warrants in the Company: 
 
+-------------+------------+---------------------+-----------+--------+ 
|             | Expiration | Exercise/Conversion |    Number |   % of | 
|             |       date |              period |        of | voting | 
|             |            |                     |    voting | rights | 
|             |            |                     |    rights |        | 
+-------------+------------+---------------------+-----------+--------+ 
| Warrant     |   13 April |       14 April 2008 |           |        | 
| over Common |       2011 |         to 13 April | 1,312,467 |  2.07% | 
| Shares      |            |                2011 |           |        | 
+-------------+------------+---------------------+-----------+--------+ 
| Warrant     |            |      4 July 2008 to |           |        | 
| over Common |     3 July |         3 July 2011 | 1,093,230 |  1.72% | 
| Shares      |       2011 |                     |           |        | 
+-------------+------------+---------------------+-----------+--------+ 
| Warrant     |          7 |      8 October 2008 |           |        | 
| over Common |    October |        to 7 October | 1,562,500 |  2.46% | 
| Shares      |       2011 |                2011 |           |        | 
+-------------+------------+---------------------+-----------+--------+ 
| Warrant     |         14 |         15 December |           |        | 
| over Common |   December |          2008 to 14 | 1,873,380 |  2.95% | 
| Shares      |       2011 |       December 2011 |           |        | 
+-------------+------------+---------------------+-----------+--------+ 
| Warrant     |          5 |          6 February |           |        | 
| over Common |   February |           2009 to 5 |   890,980 |  1.40% | 
| Shares      |       2012 |       February 2012 |           |        | 
+-------------+------------+---------------------+-----------+--------+ 
 
The total number of voting rights, including all Warrants is 25,036,615 Shares 
representing 39.43% of the current issued share capital of the Company. 
 
For further information please contact: 
 
Clean Air Power 
+44 (0)1494 527110 
John Pettitt, Chief Executive 
Peter Rowse, Finance Director 
 
Buchanan Communications                                          +44 (0)20 7466 
5000 
Charles Ryland 
Ben Willey 
Ben Romney 
 
Charles Stanley Securities (Nominated Adviser)     +44 (0)20 7149 6000 
Russell Cook 
Freddy Crossley 
Jen Boorer 
 
Notes to Editors 
 
About Clean Air Power 
 
Clean Air Power is the developer and provider of Dual-Fuel(TM) combustion 
technology for heavy duty diesel engines. Dual-Fuel(TM) engines substantially 
cut fuel costs and carbon emissions without sacrificing the original engine's 
characteristic efficiency or reliability. Clean Air Power is well positioned to 
assist corporations and governments to deliver on their environmental 
commitments while at the same time reducing transport operators overheads. 
 
Initially founded in the USA in 1991, around GBP40m has been invested in 
developing the technology with the result that 63 patents are currently held or 
pending. The holding company of the Group is based in Bermuda with operational 
subsidiaries in the UK, the USA and Australia. The Group was admitted to the AIM 
market of the London Stock Exchange in February 2006. 
 
Further information on Clean Air Power is available at www.cleanairpower.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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