Director/PDMR Shareholding

RNS Number : 1138Z

Porvair PLC

03 February 2014

 

FOR IMMEDIATE RELEASE                                                                             

Porvair plc ("Porvair" or the "Company")

Directors' Shareholdings and Issue of Equity

The Company was notified on 31 January 2014 of the following exercises of options over ordinary Porvair shares of 2 pence each ("Porvair Shares") on the same date by Ben Stocks, Chief Executive Officer, and Chris Tyler, Group Finance Director, pursuant to the Company's share option schemes.

Director	Scheme	Year of grant	Exercise price	Options exercised
Ben Stocks	LTSP 2008	2011	2p	250,000
Chris Tyler	LTSP 2008	2011	2p	175,000

On the same date, the Company was notified that on such date, Ben Stocks sold 200,000 of these new Porvair Shares at a price of 285 pence per share and Chris Tyler sold 85,000 new Porvair Shares at a price of 285 pence per share in order to meet the cost of exercise, the personal taxation liabilities arising on the options and, in the case of Ben Stocks, certain other financial commitments.

The Company was notified on 25 September 2013 of the following purchases of Ordinary Shares by Andrew Walker and Ben Stocks respectively, pursuant to the Company's dividend reinvestment plan.

Director	Date of purchase	Number of Porvair shares purchased	Purchase price
Andrew Walker	6 September 2013	19	249p
Ben Stocks	6 September 2013	1,794	249p

Following these dealings, the Directors' holdings in Porvair shares have increased.  Ben Stocks is interested in 491,502 Porvair Shares, representing approximately 1.1 per cent. of the Company's issued share capital, Chris Tyler is interested in 342,450 Porvair Shares, representing approximately 0.8 per cent. of the Company's issued share capital and Andrew Walker is interested in 29,499 Porvair Shares, representing approximately 0.1 per cent. of the Company's issued share capital.

As a result of the exercise of the options noted above, the Company has, on 31 January 2014, issued in aggregate 425,000 new Porvair Shares. Following the issue of the new Porvair Shares, the Company will have 44,158,598 ordinary shares in issue. There are no Porvair Shares held in treasury.

Therefore, the total number of voting rights in the Company is 44,158,598. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

Porvair plc	01553 765 500
Ben Stocks, Chief Executive
Chris Tyler, Group Finance Director
Buchanan Communications	0207 466 5000
Charles Ryland / Helen Greenwood / Clare Akhurst

Peel Hunt LLP                                                                                            020 7418 8900

Daniel Harris

Notes to Editors

Porvair is a group of specialist filtration and environmental technology businesses.  Its businesses design and manufacture a range of bespoke consumable filtration products that are used in a range of niche filtration markets.  Its principal markets are aviation, energy and industrial process, environmental laboratories and non-ferrous metals.

 

END

 

 

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