Director/PDMR Shareholding

RNS Number : 6858B

Flowtech Fluidpower PLC

24 September 2018

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

The Flowtech Fluidpower plc (the "Company" or "Flowtech")

Director / PDMR Dealing

Flowtech Fluidpower plc, the UK's leading specialist supplier of technical fluid power products, is pleased to announce that it has been notified that Nigel Richens, Non-Executive Director of Flowtech, has purchased 23,500 ordinary shares of £0.50 each ("Ordinary Shares") on 21^st September 2018 at a price of 128.5p per Ordinary Share.

Following this transaction, Nigel has an interest in 73,500 Ordinary Shares, representing approximately 0.12 per cent. of the Company's issued Ordinary Share capital.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nigel Richens
2	Reason for the notification
a)	Position/status	Non-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	Flowtech Fluidpower plc
b)	LEI	213800N68SQY5X5XS290
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 50p each ISIN:  GB00BM4NR742
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s)               128.5p Volume(s)           23,500
d)	Aggregated information	N/a - single transaction
e)	Date of transaction	21 September 2018
f)	Place of transaction	London Stock Exchange, AIM

Enquiries to:

Flowtech Fluidpower plc

Malcolm Diamond MBE, Chairman

Bryce Brooks, Chief Executive Officer and Chief Financial Officer

Tel: [phone]

Zeus Capital Limited (Nominated Adviser and Broker)

Andrew Jones, Alistair Donnelly (corporate finance)

Dominic King, John Goold (sales & broking)

Tel: [phone]

finnCap Limited (Joint Broker)

Ed Frisby, Kate Bannatyne (corporate finance)

Rhys Williams, Andrew Burdis (sales & broking)

Tel: [phone]

TooleyStreet Communications (IR and media relations)

Fiona Tooley

Tel: [phone] or email: [e-mail]

About Flowtech Fluidpower plc Founded as Flowtech in 1983, the Flowtech Fluidpower Group is the UK's leading specialist supplier of technical fluid power products.  The business joined AiM in 2014.  Today, the Group has four distinct divisions: Division: What we do: Locations: Flowtechnology focus on supplying distributors and resellers of industrial MRO products, primarily serving urgent orders rather than bulk offerings. It offers an unrivalled range of OEM and Exclusive Brand products to over 5,000 distributors and resellers.  The catalogue is recognised as the definitive source for fluid power products, containing 100,000 individual product lines and are distributed to more than 100,000 industrial MRO end users. Flowtechnology Benelux (Deventer) Flowtechnology China (Guangzhou) Flowtechnology UK (Skelmersdale) Indequip (Skelmersdale) Beaumanor (Leicester) Power Motion Control (PMC) Specialise in the design, assembly and supply of engineering components and hydraulic systems and is further enhanced by a service and repair function. Primary Fluid Power (Knowsley) Nelson Hydraulics (Dublin, Lisburn, Dungannon, UK) TSL Fluid Power (West Yorkshire) Albroco (Knowsley) HTL (Ludlow) Hi-Power Hydraulics (Cork, Dublin, Belfast Manchester) Hydroflex (Brussels, Rotterdam and OudBeijerland) Hydraulic Equipment Supermarkets (Gloucester, Leeds, Birmingham, Durham) Branch Hydraulic Systems (Gloucester) HES Tractec (Gloucester) HES Automatec (Gloucester) HES Lubemec (Gloucester) Derek Lane & Co (Newton Abbot, Devon) Process Focus on the supply of industrial components and solutions to the process sectors. Hydravalve (Willenhall) Orange County (Spennymoor) Onsite Services During 2018, the Group is extending its service offering to include Onsite Technical Maintenance through highly skilled engineers. HES Onsite (Durham, Leeds, Birmingham, Gloucester) All four of the Group's divisions have overlapping product sets, allowing procurement synergies to be maximised. The above divisions are supported by a centralised back office team at the Skelmersdale site and a procurement and quality control team in Shanghai.  In total, the business employs over 600 people.  For more information please visit, www.flowtechfluidpower.com

 

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