Directors' Shareholdings and Issue of Equity

RNS Number : 4998C

Porvair PLC

16 April 2013

 



FOR IMMEDIATE RELEASE                                                                              16 April 2013

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

Directors' Shareholdings and Issue of Equity

The Company was notified on 16 April 2013 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	2005 EMI	2006	131p	21,800
Ben Stocks	2005	2009	69.5p	100,000
Ben Stocks	2008	2010	2p	276,900
Chris Tyler	2005 EMI	2006	131p	15,200
Chris Tyler	2005	2009	69.5p	100,000
Chris Tyler	2008	2010	2p	184,600

On the same date, the Company was notified that on such date, Ben Stocks has sold 195,200 of these new Porvair Shares at a price of 228 pence per share and Chris Tyler has sold 151,400 of these new Porvair Shares at a price of 228 pence per share in order to meet the cost of exercise and the personal taxation liabilities arising on the options granted in 2009 and 2010.  As required by the Group's Remuneration Committee, Ben Stocks and Chris Tyler have used part of their annual bonus to exercise the options granted in 2006.

Following these dealings, Ben Stocks is interested in 333,699 Porvair Shares, representing approximately 0.8 per cent. of the Company's issued share capital, and Chris Tyler is interested in 213,650 Porvair Shares, representing approximately 0.5 per cent. of the Company's issued share capital.

As a result of the above exercises of options, the Company has today issued in aggregate 698,500 new Porvair Shares.  Following the issue of the new Porvair Shares, the Company will have 43,351,072 ordinary shares in issue.

For further information, please contact:

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

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.

 

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