Ceres Power chairman tops up stake

Brian Count, chairman of the alternative energy group Ceres Power, has added to his stake in the company with the purchase of nearly £60,000 worth of shares.

The company reported that Mrs JE Count a 'related party' bought 50,000 shares at 114.8p a time, taking his holding in the group to 257,850 shares, which is about 0.3% of the company.

Last month, the company posted a an interim loss that grew to £5.9m from £3.3m a year earlier as revenue slumped 39%, blamed on the £2m Alpha milestone completion payment from British Gas last June being recognised as revenue when earned, based on costs incurred over the Beta and Gamma phases.

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Count said he was pleased to report significant progress during the period, in which it secured its first international mains gas CHP commercial programme, with Bord Gis for the Irish market.

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