DLA Phillips Fox advises Ceramic Fuel Cells on capital raising

DLA Phillips Fox has advised Ceramic Fuel Cells Limited (CFCL), on the Australian legal issues relating to its intended A$35 million capital raising by way of a sophisticated investor placement in Australia, the UK and the EU, an open offer in the UK and the EU and a Rights Issue in Australia and New Zealand.

CFCL is seeking to raise approximately A$10m by the issue of shares to cornerstone investors in Australia, UK and Europe, up to a further A$15m from new and existing shareholders in the UK and Europe A$10m  via an Australian non-renounceable Rights Issue.

Partner Mark Burger led the advisory team and was assisted by Johnny Short.  

'There have been a number of cross border issues due to the fact that Ceramic Fuel Cells is listed on the ASX and AIM in the UK. Satisfying competing regulatory and commercial interests has at times been challenging,' Burger said. 

CFCL is a leading developer of high efficiency and low emission microgeneration products for homes.

The proceeds from the capital raising will strengthen the company’s balance sheet and working capital and is subject to shareholder approval.  

For more information: 

Mark Burger, Partner
Tel +61 3 9274 5586
mark.burger@dlaphillipsfox.com

Clare Buttner, Media Relations Consultant
Tel + 61 2 9286 8400
clare.buttner@dlaphillipsfox