Grant of Share Options

RNS Number : 2754R

Pressure Technologies PLC

25 June 2015

 

25 June 2015

Pressure Technologies plc

("Pressure Technologies" or the "Company")

Grant of Share Options

Pressure Technologies (AIM: PRES), the specialist high pressure engineering group, announces that  options over 111,665 ordinary shares of 5 pence each in the Company ("Ordinary Shares") have been granted under the Company's Long Term Incentive Share Option Plan (the "LTIP") to certain members of the Company's senior management.

The options have an exercise price of 225 pence per Ordinary Share, being the average closing price over the three days prior to grant and are exercisable after three years in accordance with the rules of the LTIP.

The total number of options now outstanding over Ordinary Shares is 733,034 representing 5.1 per cent. of the Company's total issued share capital.

For further information, please contact:

Pressure Technologies plc Alan Wilson, Chairman John Hayward, Chief Executive James Lister, Group Finance Director	Tel: [phone] www.pressuretechnologies.com
Tavistock Keeley Clarke / Simon Hudson	Tel: [phone]
Cantor Fitzgerald Europe (Nominated Advsior and Broker)	Tel: [phone]
Rick Thompson / Michael Reynolds / Will Goode David Banks / Tessa Sillars

COMPANY DESCRIPTION

Company description - www.pressuretechnologies.com

With its head office in Sheffield and its origins going back to 1897, Pressure Technologies is a growing, profitable, 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 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, 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.co.uk

Alternative Energy

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

·      Greenlane, acquired in October 2014

 www.greenlanebiogas.com

 

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