Completion of Reacquisition of Minority Interest

RNS Number : 6019T

Water Intelligence PLC

09 January 2017

 

Water Intelligence plc ("Water Intelligence" or the "Company")

Completion of Reacquisition of Minority Interest

Further to the announcement of 12 September 2013, the Company has completed the final purchase of all remaining shares owned by certain former minority shareholders (the "Minority Shareholders") of American Leak Detection Holding Corp. ("ALD") (a wholly owned subsidiary of the Company) pursuant to rights granted to the Minority Shareholders at the time of the acquisition of ALD by the Company. The Minority Shareholders exercised their rights to sell 99,936 Consideration Shares to the Company at a price of 75 pence per Consideration Share. 

The Consideration Shares will be held in treasury and used by the Company in lieu of performance-based bonuses in recognition of Water Intelligence's 2016 transactions, namely franchise reacquisitions of South New Jersey, Cincinnati, Northwest Arkansas and Sydney, the acquisition of NRW Utilities, bank refinancing and equity financing at a premium to the market price. David Silverstone, a director of the Company, received 38,500 of such Ordinary Shares. Following this transaction, David Silverstone holds 38,500 Ordinary Shares in the Company, representing approximately 0.32% of the voting rights in the Company. Robert Mitchell, a director of the Company, received 9,936 Ordinary Shares in the Company, representing approximately 0.08% of the voting rights in the Company.

Enquiries:  

Water Intelligence plc            Patrick DeSouza, Executive Chairman	Tel: [phone]
finnCap Ltd Adrian Hargrave / Giles Rolls, corporate finance Stephen Norcross, corporate broking	Tel: [phone]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the PDMR / person closely associated
a)	Name	David Silverstone
2.	Reason for the notification
a)	Position / status	Executive Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Water Intelligence plc
b)	LEI	N/A
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 £0.01 each in Water Intelligence plc  GB00BZ973D04
b)	Nature of the transaction	Consideration in lieu of performance-related bonus
c)	Price(s) and volume(s)	38,500 Ordinary Shares at a price of 95 pence
d)	Aggregated information	N/a (Single transaction)
	-      Aggregated volume
	-      Price
e)	Date of the transaction	6 January 2017
f)	Place of the transaction	London Stock Exchange (XLON)

1.	Details of the PDMR / person closely associated
a)	Name	Robert Mitchell
2.	Reason for the notification
a)	Position / status	Executive Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Water Intelligence plc
b)	LEI	N/A
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 £0.01 each in Water Intelligence plc  GB00BZ973D04
b)	Nature of the transaction	Consideration in lieu of performance-related bonus
c)	Price(s) and volume(s)	9.936 Ordinary Shares at a price of 95 pence
d)	Aggregated information	N/a (Single transaction)
	-      Aggregated volume
	-      Price
e)	Date of the transaction	6 January 2017
f)	Place of the transaction	London Stock Exchange (XLON)

 

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