Director Share Option Award

RNS Number : 6124R
Flowtech Fluidpower PLC
30 October 2019
 

 

 

 

 

 

 

 

 

 Flowtech Fluidpower PLC

("Flowtech" or the "Company")

 

Director Share Option Award

 

 

Flowtech Fluidpower plc, the UK's leading specialist supplier of technical fluid power products, announces that it has granted an option over ordinary shares of 50 pence each in the Company ("Ordinary Shares") on 25 October 2019 to Russell Cash, Chief Financial Officer of Flowtech, pursuant to the rules of the Unapproved Sub-Plan to the Flowtech Fluidpower plc Enterprise Management Incentive Plan.

 

The award provides an option to acquire a total of 150,000 Ordinary Shares at an exercise price of 50 pence per Ordinary Share. The option is exercisable upon publication of the Company's accounts for the financial period to 31 December 2021 and is not subject to the achievement of any performance criteria.

 

Following this transaction, Mr. Cash also remains interested in 28,570 Ordinary Shares, representing approximately 0.05 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

 

 

Russell Cash

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Financial Officer/PDMR

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

 

 

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

Ordinary shares of 50 pence each



Identification code

GB00BM4NR742



b)

 

Nature of the transaction

 

 

Grant of option over ordinary shares

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




50 pence

150,000







d)

 

Aggregated information




- Aggregated volume

N/A - single transaction



- Price




e)

 

Date of the transaction

 

 

25 October 2019

f)

 

Place of the transaction

 

 

Off market

 

Enquiries to:

Flowtech Fluidpower plc

Bryce Brooks, Chief Executive Officer

Russell Cash, Chief Financial Officer

Tel: +44 (0) 1695 52796

Email info@flowtechfluidpower.com

 

LSE: AIM symbol FLO

 

Zeus Capital Limited (Nominated Adviser and Broker)

Andrew Jones, Kieran Russell (corporate finance)

Dominic King, John Goold (sales & broking)

Tel: +44 (0) 161 831 1512

 

finnCap Limited (Joint Broker)

Ed Frisby, Kate Bannatyne (Corporate Finance)

Rhys Williams, Andrew Burdis (Sales & Broking)

Tel: + 44 (0) 20 7220 0500

 

TooleyStreet Communications (IR and media relations)

Fiona Tooley

Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com









 


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