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Ceramic Fuel Cells Outlines Fund-Raising Options

Publication Date:22-November-2005
10:30 PM US Eastern Timezone
Source:Australian Business News

Sydney - Wednesday - Nov 23- Ceramic Fuel Cells (CFU) chairman Mr Julian Dinsdale told the annual meeting that the company intended to raise funds in Australia and the UK and European markets, sufficient to:

* fund the equity portion of the Company's planned European fuel cell manufacturing plant; and

* take the Company through its current commercialisation and field trial phase, into volume production and revenue generation.

"In addition to being joint broker, Libertas Capital will also provide institutional research on the Company," Mr Dinsdale said.

"The Company is now working with Libertas Capital and Ambrian, as well as Inteq Limited, CFCL's corporate advisors in Australia, on finalising the details of the raising. The Company's current intention is to raise the funds via a pro-rata non-renounceable Rights Issue to existing shareholders, with the shortfall being placed to UK and European investors by Libertas Capital and Ambrian.

"The shortfall would be allocated to UK and European investors at the same price as offered to existing shareholders under the Rights Issue. The quantum and pricing of the raising will be set in consultation with Libertas Capital and Ambrian after marketing to potential investors."


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