Option Exercise and Director's Dealings

RNS Number : 1530I

Flowtech Fluidpower PLC

19 March 2018

 

NEWS RELEASE Issued on behalf of Flowtech Fluidpower PLC Immediate Release
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN FLOWTECH FLUIDPOWER PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR.  This inside information is set out in this Announcement.  Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities. FLOWTECH FLUIDPOWER PLC ("Flowtech" the "Group" or "Company") Option Exercise and Director's Dealings
London: Monday, 19 March 2018:  AIM listed specialist technical fluid power products supplier Flowtech Fluidpower plc (LSE: AiM: symbol: FLO) announces the following dealings by Bryce Brooks, Chief Financial Officer. On 16 March 2018 Bryce Brooks exercised his Enterprise Management Incentive ("EMI") share option over 90,000 new ordinary shares (the "New Shares") at an exercise price of 100p per share.  These options were granted at the time of flotation in 2014. Following this exercise Mr Brooks has EMI share options over 159,999 shares. Concurrent with exercise of the option, Mr Brooks agreed to sell 55,000 New Shares to the Flowtech Fluidpower plc Employee Benefit Trust at 176.25 pence per share, being the closing mid-market price on 15 March, and the proceeds applied to settle the exercise price. Mr Brooks has also agreed to sell the balance of 35,000 New Shares for cash to his Self-Invested Personal Pension Plan ("SIPP") at 175.5p.  Completion of these arrangements will occur following Admission. Following completion of these arrangements, Mr Brooks will be beneficially interested in 129,000 shares. Admission Application will be made for the New Shares to be admitted to AIM and it is expected that admission will become effective and trading will commence at 8:00 a.m. on or around 23 March 2018 ("Admission"). The New Shares will, following Admission, rank pari passu in all respects with the existing ordinary shares in issue and will carry the right to receive all dividends and distributions declared, made or paid on or in respect of the ordinary shares after Admission.

Enquiries: Flowtech Fluidpower plc Sean Fennon, Chief Executive Bryce Brooks, Chief Financial Officer Tel: [phone] Email: [e-mail]

Zeus Capital Limited (Nominated Adviser and Broker) Andrew Jones, Alistair Donnelly (corporate finance) Dominic King, John Goold (sales & broking) Tel: [phone] finnCap Limited (Joint Broker) Ed Frisby, Kate Bannatyne (corporate finance) Rhys Williams, Emily Morris (sales & broking) Tel: [phone] TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: [phone] or email: [e-mail]

The information below, set out in accordance with the requirements of the MAR, provides further detail.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Bryce Brooks
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Flowtech Fluidpower plc
b)	LEI	213800N68SQY5X5XS290
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 50p each  GB00BM4NR742
b)	Nature of the transaction	(i)           Exercise of EMI Options (ii)          Sale to EBT (iii)         Sale to SIPP (iv)         Purchase by SIPP
c)	Price(s) and volume(s)	(i)           Price(s) Volume(s) 100.0p 90,000 (ii)          Price(s) Volume(s) 176.25p 55,000 (iii)         Price(s) Volume(s) 175.5p 35,000 (iv)         Price(s) Volume(s) 175.5p 35,000
d)	Aggregated information -      Aggregated volume -      Price	(i) Exercise of Options 90,000 100.0p (weighted average) (ii) Sale to EBT 55,000 176.25 (weighted average) (iii) Sale to SIPP 35,000 175.5p (weighted average) (iv) Purchase by SIPP 35,000 175.5p (weighted average)
e)	Date of the transaction	(i)           16 March 2018 (ii)          16 March 2018 (iii)         16 March 2018 (iv)         16 March 2018
f)	Place of the transaction	(i)           London Stock Exchange, AIM (ii)          Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 16 March 2018 (iii)         Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 16 March 2018 (iv)         Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 16 March 2018

 

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