| Ceramic
Fuel Cells Limited (AIM / ASX: CFU) is pleased to announce that it
has completed the placing of new ordinary shares to institutional investors
in the UK and Europe, announced on 5 May 2008.
The placing raised gross proceeds
of approximately £7.0 million (A$14.7 million). These funds
will provide CFCL with further working capital to facilitate the Company’s
continued commercialisation activities including the integration of its
fuel cell products with conventional condensing boilers.
The new shares were issued, and
admitted to trading on the AIM market, on Friday 9 May. The Company
has today applied for the new shares to also be quoted on the ASX.
A total of 35,000,004 new shares were issued, taking the Company's total
issued shares to 344,745,674. |