Clean Air Power Limited Subscription of new Common Shares (3525N)

TIDMCAP

RNS Number : 3525N

Clean Air Power Limited

06 September 2013

6 September 2013

Clean Air Power Limited

("Clean Air Power" or the "Company")

Subscription of new Common Shares and

Total Voting Rights

Clean Air Power (AIM:CAP), the developer and global leader in Dual-Fuel engine management software for heavy-duty vehicles announces that, further to the recent equity placing announced on 23 August 2013 wherein it was noted the Directors were not able to participate due to the Company being in a close period until the publication of its half yearly statements, following the announcement of the Company's half yearly statements, all of the Directors have agreed to participate in a subscription of 1,073,160 new common shares of US$0.001 each in the Company ('Common Shares') on the same terms as the aforementioned placing including the subscription price of 9.625 pence per share.

This subscription of 1,073,160 new Common Shares increases the directors' aggregate beneficial holding to approximately the same percentage ownership held prior to the recent GBP5 million placing.

 
 Name                       No. Shares          No. Subscription   No. Shares           % Holding 
                             Pre-Subscription    Shares             Post Subscription    Post Subscription 
-------------------------  ------------------  -----------------  -------------------  ------------------- 
 
 John Pettitt               2,376,567           623,433            3,000,000            1.30% 
-------------------------  ------------------  -----------------  -------------------  ------------------- 
 Rodney Westhead            360,609             124,675            485,284              0.21% 
-------------------------  ------------------  -----------------  -------------------  ------------------- 
 Bernard Lord               571,897             166,233            738,130              0.32% 
-------------------------  ------------------  -----------------  -------------------  ------------------- 
 Pete Rowse                 298,908             86,092             385,000              0.17% 
-------------------------  ------------------  -----------------  -------------------  ------------------- 
 Dr. Ulrich Wöhr       367,359             20,779             388,138              0.17% 
-------------------------  ------------------  -----------------  -------------------  ------------------- 
 Prof. Dr. Karl Schaller    68,381              51,948             120,329              0.05% 
-------------------------  ------------------  -----------------  -------------------  -------------------

John Pettitt, Chief Executive of Clean Air Power said:

"Due to a regulatory restriction we were unable to participate at the time of the original equity placing but I am now delighted that all members of the Board have further invested in Clean Air Power demonstrating our commitment to and belief in the prospects of the Group"

Application has been made to the London Stock Exchange for the 1,073,160 new Common Shares to be admitted to trading on AIM on 10 September 2013 ("Admission"). Following Admission, the number of Common Shares in issue, and the total number of voting rights, will have increased to 231,019,139. This is the figure which may be used by shareholders in the Company as the denominator for the calculations in which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

For further information, please contact:

 
 Clean Air Power                          Tel: +44 (0)1772 624 499 
  John Pettitt, Chief Executive 
  Peter Rowse, Finance Director 
 Citigate Dewe Rogerson                   Tel: +44 (0)20 7282 2867 
  Malcolm Robertson 
  Chris Gardner 
 
  Cantor Fitzgerald Europe                 Tel: +44 (0)20 7894 7000 
  David Foreman / Mark Percy (Corporate 
  Finance)                                 Tel: +44 (0)20 7894 7632 
  David Banks / Paul Jewell (Corporate 
  Broking) 
                                           Tel: +44 (0)20 3540 1721 
  Peat & Co 
  Charlie Peat 
  Andy Cuthill

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 GBP50m has been invested in developing the technology with the result that 65 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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