Grant of Share Options

RNS Number : 2554M

Pressure Technologies PLC

11 October 2016

 

11 October 2016

Pressure Technologies plc

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

Grant of Share Options

Further to the announcement on 2 August 2016, Pressure Technologies announces it has granted an  additional option over 2,400 new ordinary shares of 5p each in the company. This takes the total granted options to 85,440 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 150p per share and are exercisable at the end of the three year SAYE period.

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 / Will Goode
Tavistock Simon Hudson	Tel: [phone]

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, Engineered Products, Cylinders 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

Engineered Products

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

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

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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