Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Appointment of Voluntary Administrators
Ceramic Fuel Cells Limited (Administrators Appointed) ACN 055 763 671 (‘the Company’)(‘CFCL’)
Adam Nikitins and Justin Walsh, partners at Ernst & Young Australia, were appointed Joint and Several Administrators of CFCL on 1 March 2015, pursuant to Section 436A of the Corporations Act 2001.
The appointment followed a board resolution that the company was either insolvent, or was likely to become insolvent, and accordingly that it was necessary to appoint voluntary administrators.
The voluntary administrators are conducting an urgent review of the options available to them.
The appointment of voluntary administrators relates only to CFCL. Correspondence to creditors of CFCL will follow shortly detailing the location and time of the first creditors’ meeting.
CFCL has updated ASX and AIM with its revised status on 2 March 2015 and share trading has been suspended.
For queries contact Ms Jade Cordery on 03 9288 8891.
from their website
MK
is this group dead? Why no updates recently? CEFLF
Innovation Award of German Industry : Ceramic Fuel Cells chosen as a finalist
BlueGen awarded again
Ceramic Fuel Cells was awarded the Innovation Award of the German economy in 2014 for the highly efficient micro power plant BlueGen as a finalist . The award was presented last Saturday at a gala ceremony in front of 650 invited guests from business and politics in Frankfurt am Main.
Ceramic Fuel Cells had prevailed in his bid for the Innovation Award in a field of more than 300 applicants down to the top 4 in the category start -up company and was beaten narrowly in the final .
"It is a great achievement for us to have come to the final round of the prestigious Innovation Award of the German economy," said Frank Obernitz , Managing Director of Ceramic Fuel Cells GmbH at the award ceremony . "The award finalist highlights the outstanding achievements of our team and support us and our partners at the launch of our product BlueGen " .
Dr. Karl Föger and Frank Obernitz at the award ceremony .
The Innovation Award of German Industry was this year for the 33 Awarded time and is the first innovation award in the world . The prize is awarded annually to large enterprises , companies awarded with innovative personnel policies , medium-sized companies and start -up companies and records the most important scientific , technical, entrepreneurial and intellectual innovations of the German economy. The award is organized by the FAZ Institute and is under the patronage of the Federal Ministry of Education and Research and the Federal Ministry of Economics and Technology.
Ceramic Fuel Cells has long recognised the importance of following clear policies and procedures, particularly for the protection of its highly valuable innovations and technical achievements. In the same way the Company holds high standards for corporate governance, risk, and financial management.
Corporate Governance Standards
As a company listed on the Australian Securities Exchange, Ceramic Fuel Cells Limited is required to have regard to the ASX Corporate Governance Council's Principles of Good Corporate Governance and Best Practice Recommendations (available on www.asx.com.au ).
The Directors are also mindful of the corporate governance requirements imposed on AIM quoted companies and the expectations of European investors, including the recommendations of the UK ‘Combined Code' on Corporate Governance.
Both sets of recommendations cover a range of ‘aspirational' principles to promote good corporate governance. Ceramic Fuel Cells Limited intends to comply with both standards to the maximum extent practicable, considering the Company's resources, stage of development and current priorities.
Details of the Company's Corporate Governance practices are published in each Annual Report.
Board of Directors
The Board consists of a non-executive Chairman, a Managing Director, an Executive Director and one non-executive director. The Board's policy is that it should include a majority of non-executive directors.
The Board has ultimate responsibility to the shareholders for the welfare of the Company by guiding and monitoring the Company's business affairs. The Board delegates management of the Company's resources to the executive management team, under the leadership of the Managing Director. The responsibilities of the Board and the roles and division of authority between the Chairman and Managing Director are set down in a Board Charter.
Under the Company's constitution, directors are elected for three years subject to the requirement that one-third of the directors (excluding a Managing Director) must retire at each annual general meeting. A retiring director may stand for re-election. A director must declare any conflict of interest, and directors may not participate in discussions or resolutions pertaining to any matter in which the director has a material personal interest without Board approval.
In discharging their duties, directors are provided with direct access to senior management and outside advisors and auditors. Board committees and individual directors may seek, with the Chairman's approval, independent professional advice at the Company's expense in order to perform their duties.
The Board of Directors aims to have a mix of skills that is appropriate for the Company’s stage of operations. Currently these skills include: commercialising technology, manufacturing and engineering operations, clean energy financing and operations, experience in international energy markets and finance. As the Company commercialises its products, the mix of skills will also evolve, to include a greater focus on volume manufacturing, product marketing and sales.
Whilst the Company provides a workplace that is open to gender diversity, the Company currently does not have a formal policy or specific objectives for gender diversity.
In terms of geographic diversity, the Board is aware of the value of having Directors with experience in the Company’s initial target markets. The Board includes directors based in Germany (Dr Roman Dudenhausen) and the United Kingdom (Mr Alasdair Locke and Mr Robert Kennett).
The Company's policy is to execute a formal deed with each director and the Company Secretary, to clearly set out the parties' expectations regarding access to Board papers, indemnity and insurance. The Board has established three standing committees, described below. Each of these Committees has a written charter.
The Board meets approximately monthly, with additional meetings when required.
Board Charter
The Board has ultimate responsibility to the shareholders for the welfare of the Company by guiding and monitoring the Company's business affairs. The Board delegates management of the Company's resources to the executive management team, under the leadership of the Managing Director.
A formal Board charter sets out how the Board will operate, and includes the following items:
•The responsibilities of the Board and the roles and division of authority between the Chairman and Managing Director.
A description of the Board Structure and practice, including Board committees.
•A Directors' code of conduct, with principles similar to those set out in the Australian Institute of Company Directors Code of Conduct.
•Guidance on the Independence of directors and dealing with conflicts of interest.
•Director's access to management and independent advice.
•An annual review of the performance of individual directors, the Board as a whole and the Board's committees.
Audit Committee
With the recent resignation of Dr Binks, Mr Locke (Chair) is currently the sole member of the Audit Committee.
The Audit Committee recommends to the Board the appointment of the external auditors, reviews and monitors compliance with the audit plan, reviews the Company's financial reports, monitors the effectiveness of the accounting systems, the internal control environment, and the risk management and compliance system, and provides a clear line of communication between the external auditors and the Board.
The Audit Committee has a formal written charter which sets out:
•The objectives and responsibilities of the Committee.
•The composition of the Committee, namely at least three directors with a majority being non executive.
•Procedures for meetings of the Committee.
•The authority of the Committee, and rights of access to management and external advisors.
Technical Committee
With the recent resignation of its Chairman, Dr Binks, Mr Kennett is the sole Technical Committee member, with the Chief Technical Officer and other senior managers attending by invitation. All Directors are entitled to attend all meetings of the Technical Committee. The Technical Committee overviews the Company's product and technology development programmes and advises the Board upon those matters, including technology risks.
The Technical Committee has a formal written charter which sets out:
•The objectives and responsibilities of the Committee.
•The composition of the Committee, namely at least two non-executive directors, the Managing Director and the Chief Technical Officer of the Company.
•Procedures for meetings of the Committee.
Remuneration and Nominations Committee
The Remuneration and Nominations Committee comprises Mr Locke (Chair) and Dr Dudenhausen.
The Committee reviews the remuneration of directors and senior management and the Company's recruitment, retention and termination policies for senior management. The Committee also monitors Board composition, Board and senior management succession planning, and reviews the performance of the Managing Director.
The Remuneration and Nominations Committee has a formal written charter which sets out:
•The objectives of the Committee.
•The composition of the Committee, namely at least three independent non-executive directors of the Company.
•Procedures for meetings of the Committee.
•Responsibilities of the Committee relating to Nomination and Remuneration.
Company Policies
Ceramic Fuel Cells Limited has adopted a range of policies and procedures to ensure it follows appropriate standards of corporate governance, including the following policies.
Code of Conduct
The Code of Conduct is designed to maintain confidence in the integrity of Ceramic Fuel Cells Limited and its subsidiaries. This code expresses certain basic principles that Ceramic Fuel Cells Limited, its employees, contractors and external consultants should follow in all dealings related to the Company.The Code requires all directors, officers and senior management and employees to observe high standards of ethics and behaviour in all of the Company's activities.
In particular the Code sets out principles relating to:
•Compliance with the law, particularly laws relating to competition and consumer protection, insider trading, privacy
•Occupational health & safety policy
•Equality in employment
•Confidentiality
•Conflict of interests
•Procedures for reporting any breaches of the Code.
Continuous Disclosure Policy
As a listed company, Ceramic Fuel Cells Limited is required to disclose certain information to the market, to ensure that investors are properly informed about the company. The Company's Continuous Disclosure Policy is intended to ensure that Ceramic Fuel Cells Limited directors and staff understand and comply with the legal constraints on disclosing information.
The Policy includes provisions dealing with:
•Information that Ceramic Fuel Cells Limited must disclose to the market, including certain ‘price sensitive' information and other mandatory disclosure required by the ASX or AIM markets.
•A Disclosure Committee that is responsible for managing Ceramic Fuel Cell Limited's disclosure.
•Disclosure of information to the ASX and AIM markets, to the public and to analysts and investors.
•When a trading halt (or suspension) may be appropriate.
Securities Trading Policy
As a listed company, the law imposes restrictions on employees trading in the shares of Ceramic Fuel Cells Limited.
The Company's Securities Trading Policy contains basic guidelines that apply to all employees, Directors, and contractors, regarding the prohibition on ‘insider trading'.
The Policy also contains additional restrictions on trading by Directors and senior staff, including restrictions on dealing in Ceramic Fuel Cells Limited securities during certain ‘close periods' and restrictions on short-term trading.
Shareholder Communications
Ceramic Fuel Cells Limited takes a number of steps to promote effective communication with shareholders, including:
•Holding regular briefings for brokers and investors, in Australia and Europe;
•Re-designing and continued updates of the Company website;
•Providing a facility for shareholders to subscribe to receive announcements and other shareholder correspondence by email;
•Placing on the Company website Company announcements and presentations, and the full text of AGM notices and explanatory material;
•Providing webcasts and podcasts through the Boardroomradio service www.brr.com.au/cfu
Risk Management
Management and the Board place a strong emphasis on identifying and mitigating the key risks facing the Company.
Management regularly identifies and reviews the key risks across the Company's operations - including technical, commercial and manufacturing risks. These risks are also reported regularly to the Board Audit Committee and the technical taskforce. The major risks are also communicated to shareholders in the Company's Annual Reports.
http://www.cfcl.com.au/Corporate_Governance/
All you need to know about our technology & markets
Of all the electricity technologies available today, one of the least known but most efficient is the fuel cell.
There are many different types, with solid oxide fuel cells (SOFC) offering significant benefits that others don't. This includes providing the highest electrical efficiencies among all fuel cells. They also have the flexibility to operate on different fuel sources such as natural gas, bio gas, hydrogen, and LPG.
Our Info Centre provides general information about fuel cells and the specifics about our technology, how it works, and why it provides superior performance.
Find out more about our fuel cell technology and the facts about fuel cells.
http://www.cfcl.com.au/Info_Centre/
A diverse customer base world-wide
We understand the constraints of commercialising a new technology and relying on one single market. That's why Ceramic Fuel Cells is developing fuel cell technology that meets the needs of energy utilities and consumers worldwide.
By developing a common technology platform, we can access many global markets. Our fuel cell technology is placed into the market via two product streams:
•Developing integrated micro-Combined Heat & Power products with selected utility and appliance partners as part of our product development agreements
•Addressing immediate market demand with our BlueGen® product through distributors and foundation customers
We select markets that best suit our technology and show growth prospects - now, and for the future.
Select a country to find out more.
http://www.cfcl.com.au/partners/
Our innovative technology creates world-leading products
We're commercialising our fuel cell technology across a number of international markets, our products include:
BlueGen
BlueGen® is a ready to install ‘modular' generator designed for a number of markets and installation configurations. BlueGen co-generates; 1) electricity for consumption and export to the grid and, 2) heat for hot water.
Through direct sales and our distributors, BlueGen delivers clean, controllable, on-site power for residential and light commercial applications.
More...
Gennex fuel cell module
The Gennex® fuel cell module is a complete set of fuel cell components designed to work together for maximum efficiency and reliability.
We supply Gennex fuel modules as Original Equipment Manufacturer (OEM) components to some of the leading heating and appliance manufacturers in Europe.
More...
Engineered mixed oxide powders
Ceramic Fuel Cells has extensive know-how in ceramic powder production for applications such as; fuel cells, thermal barrier coatings, biomedical and dental implants and high temperature products such as thread guides and fibre optic connectors.
More...
http://www.cfcl.com.au/products/
Australian developed, world-leading technology
Ceramic Fuel Cells is a world leader in commercialising Solid Oxide Fuel Cell (SOFC) technology to generate efficient, low-emission electricity from widely available natural gas and renewable fuels.
We develop, manufacture, and market SOFC products for small-scale, micro-Combined Heat & Power (micro-CHP) and distributed generation applications that co-generate electricity and heat for homes and businesses.
Our SOFC technology has the world's highest electrical efficiency from a small-scale generator (up to 60%) and significantly reduces carbon dioxide emissions by more than two-thirds compared to coal fired electricity generation.
We are a global leader in commercialising this technology, delivering our BlueGen® product to the market successfully, with significant orders in Europe and considerable interest in other key markets. We also have sales offices in Australia, Europe, and the UK.
Our operating base is broadly international, with extensive R&D, testing and manufacturing facilities in Australia, a high-volume fuel cell assembly plant in Germany, and a ceramic powder production facility in the UK. Our intellectual property is protected with 27 patent ‘families' - each family representing one innovation, with patents in multiple markets.
Ceramic Fuel Cells is listed on both the London Stock Exchange AIM market (floated March 2006), and on the Australian Stock Exchange (floated July 2004). The company's code on both exchanges is CFU.
http://www.cfcl.com.au/about/
World-wide, electricity demand is growing exponentially.
Generating and consuming electricity more efficiently is central to reducing carbon emissions.
Ceramic Fuel Cells is a world leader in providing clean, on-site electricity using fuel cells. With this advanced technology, we develop, manufacture, and market advanced products for Distributed Generation applications.
Our products allow homes and businesses world-wide to produce clean, controllable power on-site.
http://www.cfcl.com.au/
http://www.cfcl.com.au/Investors/
Financial activities, corporate policies and contacts
Ceramic Fuel Cells Limited is an Australian company listed on the Australian Securities Exchange and the London Stock Exchange AIM market. Our stock code for both exchanges is CFU. Our shares are also traded on the German Open Market Segment of Deutsche Börse (Second Quotation Board).
This section provides key investor information on the Company's financial activities, corporate policies and key contacts for shareholders.
For further information email us at: investor@cfcl.com.au
DD is hard to come by here, but the stock just keeps going up. GL, looks like you are going to double up pretty quick.
$CEFLF Ceramic Fuel Cells 2nd Resistance Point 0.0327
1st Resistance Point 0.0253
Last Price 0.0180
Followers
|
0
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
30
|
Created
|
03/04/14
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |