Exercise of Options

RNS Number : 9172J

Pressure Technologies PLC

23 December 2015

 

23 December 2015

Exercise of Options / Issue of Equity

Pressure Technologies plc ("the Company") announces that it has issued and allotted 2,782 new ordinary shares of 5p each in the Company, following an exercise of options pursuant to the Company's SAYE scheme. 2,596 of the options were exercised at 156p per share and 186 of the options were issued at 161.2p per share.

The new ordinary shares will rank pari passu with existing ordinary shares in the Company and application has been made for these new ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 31 December 2015.

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 5 pence of Pressure Technologies in issue at the date of this notice is 14,419,926.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Pressure Technologies, under the Disclosure and Transparency Rules.

-Ends-

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive Joanna Allen, Group Finance Director Keeley Clarke, Investor Relations	Tel: [phone] www.pressuretechnologies.com
Cantor Fitzgerald Europe (Nominated Adviser and Broker)	Tel: [phone]
Philip Davies / Rick Thompson / Michael Reynolds / Will Goode
David Banks / Tessa Sillars

COMPANY DESCRIPTION

Company description - www.pressuretechnologies.com

With its head office in Sheffield, Pressure Technologies was founded on its leading market position as a designer and manufacturer of high pressure systems serving the global energy, defence and industrial gases markets. Today it continues to serve those markets from a broader engineering base with specialist precision engineering businesses and has a worldwide presence in Alternative Energy as the global leader in biogas upgrading. On this foundation, the company is building a highly profitable group of companies through a combination of organic initiatives and acquisitions.

Pressure Technologies has four divisions, Precision Machined Components, Cylinders, Engineered Products and Alternative Energy, serving four markets: oil and gas, defence, industrial gases and alternative energy.

Precision Machined Components

·      Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk

·      Roota Engineering, Rotherham, acquired in March 2014 www.roota.co.uk

·      Quadscot, Glasgow, acquired in October 2014 www.quadscot.co.uk

Cylinders

·      Chesterfield Special Cylinders, Sheffield, IPO cornerstone in 2007 www.chesterfieldcylinders.com

·      Kelley GTM Manufacturing, Amarillo - 40% stake acquired by the Group in December 2013 www.kelleygtm.com

Engineered Products

·      Hydratron, Manchester and Houston, acquired in 2010 www.hydratron.com

Alternative Energy

·      Chesterfield BioGas, Sheffield, founded in 2008. Renamed Greenlane Biogas UK on 5 June 2015.

·      Greenlane, Vancouver, Canada and Auckland, New Zealand, acquired in October 2014 www.greenlanebiogas.com

 

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