Ballard Power Systems Inc. (Vancouver, BC, Canada) announced that its Vehicular Alliance partners, DaimlerChrysler AG (Stuttgart, Germany) and Ford Motor Co. (Dearborn, MI), have completed the previously announced purchase of CDN$55 million of Ballard common shares pursuant to a call agreement entered into by the parties on December 31, 2003.
DaimlerChrysler purchased 2,431,388 common shares of Ballard at CDN$12.34 per share, for an aggregate purchase price of CDN$30 million. Ford purchased 2,026,157 common shares of Ballard at CDN$12.34 per share, for an aggregate purchase price of CDN$25 million. Following the issuance of Ballard common shares pursuant to the call agreement, DaimlerChrysler owns 22,085,992 Ballard common shares, or 17.9%, and Ford owns 24,181,198 Ballard common shares, or 19.6% of the issued and outstanding Ballard common shares.
