24th Mar 2006 07:00
Ceramic Fuel Cells Limited24 March 2006 Ceramic Fuel Cells Limited Australian Placing closes oversubscribed Ceramic Fuel Cells Limited (the "Company"), a leading flat plate solid oxidefuel cell technology company, has successfully completed its Australian Placingto existing shareholders, raising approximately A$3.9 million (£1.6 million) atA$0.50 (21.25 pence) per ordinary share of nil par value ("Ordinary Share"). The Australian Placing, as described in the Admission Document of 24 February2006, was designed to allow existing investors to participate in a placing atthe same price as the recently completed UK Placing and the Company was pleasedwith the substantial interest shown by existing shareholders, particularlyretail shareholders. The offer for 5,500,000 Ordinary Shares at A$0.50 (21.25 pence) each, to raiseup to A$2.75 million, closed on 17 March 2006 with subscriptions for 7,733,000Ordinary Shares. The oversubscriptions of 2,233,000 Ordinary Shares will beallocated under the Company's 15% exception to the ASX Listing Rules. Application has been made for these Ordinary Shares to be listed on the AIMmarket of the London Stock Exchange ("AIM"). These Ordinary Shares rank paripassu with the Company's existing Ordinary Shares and dealings are expected tocommence on or around 30 March 2006 on AIM. For further information, contact: Andrew NeilsonLegal and Commercial Manager (Company Secretary) Tel: +61 (3) 9554 2300 Aamir QuraishiLibertas Capital (Nominated Adviser)Tel: +44 (0)20 7569 9650 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ceramic Fuel Cells