Clean Air Power Limited Issue of Equity and Directors' Interests (7407K)
June 27 2014 - 4:56AM
UK Regulatory
TIDMCAP
RNS Number : 7407K
Clean Air Power Limited
27 June 2014
27 June 2014
Clean Air Power Limited
("Clean Air Power", the "Company" or the "Group")
Issue of Equity and Directors' Interests
Further to the Company's announcement earlier today, Clean Air
Power announces the completion of the Placing. A total of
25,000,000 new Common Shares of US$0.001 each have been issued at a
Placing Price of 4 pence per share. The gross proceeds of the
Placing are GBP1 million. The Placing Shares will represent
approximately 9.7 per cent. of the enlarged issued ordinary share
capital of the Company.
Clean Air Power's enlarged issued common share capital
immediately following the issue of the Placing Shares will be
256,536,639 Common Shares. This figure may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in interest in, the share capital of the Company under the
Disclosure and Transparency Rules.
Directors' Interests
The Company has today been notified that certain directors of
the Clean Air Power have agreed to acquire Placing Shares pursuant
to the terms of the Placing. Following Admission, the beneficial
interests of the participating directors will be as follows:
Beneficial Beneficial Percentage
holding of Number of holding of of expected
common shares Placing Shares common shares enlarged issued
Director before Placing to be purchased after Placing share capital
--------------------- ---------------- ----------------- --------------- -----------------
Rodney Westhead 485,284 125,000 610,284 0.24
John Pettitt 3,000,000 705,600 3,705,600 1.44
Neill Skinner - 175,000 175,000 0.07
Bernard Lord 738,130 160,000 898,130 0.35
Prof Dr Karl-Viktor
Schaller 89,160 13,000 102,160 0.04
Dr Ulrich Wöhr 419,307 42,000 461,307 0.18
Robert S. Tyrer - 29,400 29,400 0.01
All terms in this announcement have the meaning given to them in
the announcement made by the Company at 7.00 a.m. on 27 June 2014
unless otherwise defined herein.
For further information, please contact:
Clean Air Power Tel: +44 (0)1772 624 499
John Pettitt, Chief Executive
Neill Skinner, Chief Financial Officer
Citigate Dewe Rogerson Tel: +44 (0)20 7282 2867
Malcolm Robertson
Chris Gardner
Panmure Gordon Tel: +44 (0)20 7886 2500
Corporate Finance
Freddy Crossley / Atholl Tweedie
Corporate Broking
Tom Salvesen
Peat & Co. Tel: +44 (0)20 3540 1721
Charlie Peat
Andy Cuthill
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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