Grant of Share Options

RNS Number : 0302O

Pressure Technologies PLC

01 August 2014

 

1 August 2014

Pressure Technologies plc

("Pressure Technologies", the "Group" or the "Company")

Grant of Share Options

Pressure Technologies announces that it yesterday granted options over 98,143 new ordinary shares of 5p each in the Company. These options were granted to UK based employees of the Group, following an offer to employees to subscribe to the Company's SAYE Share Option Scheme. The options were granted with an exercise price of 593 pence per share and are exercisable at the end of the 3 year SAYE period.

Of these options, 1,517 were granted to James Lister, Finance Director of the Company.

Pursuant to the above mentioned option award, James Lister has a total of 153,722 Ordinary Shares under option.

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director	Tel:  [phone] www.pressuretechnologies.co.uk
Tavistock Communications Catriona Valentine / Emma Blinkhorn	Tel:  [phone] www.tavistock.co.uk
Charles Stanley Securities (Nomad and Broker) Philip Davies / Carl Holmes	Tel: [phone]

Company description - www.pressuretechnologies.com

With its head office in Sheffield and its origins going back to 1897, Pressure Technologies is a growing, profitable, debt-free, dividend paying, AIM listed, leading designer and manufacturer of speciality engineering solutions for high pressure systems serving large global markets. The company is building a highly profitable group of companies, specialising in technology for the containment and control of liquids and gases in pressure systems through a combination of organic initiatives and acquisitions.

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

Cylinders

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

·     Kelley GTM Manufacturing, Amarillo - 40% stake acquired by the Group in December 2013 with an option to acquire a further 40% in 2015 www.kellygtm.com

Engineered Products

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

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

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

Alternative Energy

·     Chesterfield BioGas Limited, Sheffield, founded in 2008 www.chesterfieldbiogas.co.uk 

 

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