Acquisition of shares by a Director

RNS Number : 1173M

Pressure Technologies PLC

11 July 2014

 



                                                                                                                                                                                 11 July 2014

Pressure Technologies plc

("Pressure Technologies", the "Group" or the "Company")

Acquisition of Shares by a Director

The Board of Pressure Technologies has been informed that James Lister, Finance Director, has today acquired 36,000 ordinary shares in the Company and now holds 66,000 ordinary shares, being 0.46 per cent. of the Company's issued ordinary share capital.

Mr Lister acquired these additional ordinary shares by way of the exercise of share options at a price of 232.5 pence per share.  Mr Lister exercised 51,612 options of new ordinary shares and has today sold 15,612 of those ordinary shares at a price of 710 pence per share, to substantially fund the exercise of all of the options.  The shares have been acquired by an institutional investor.

The 51,612 new ordinary shares will rank pari passu with the existing ordinary shares in the Company and application has been made for these new ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 18 July 2014.

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 5 pence of Pressure Technologies in issue at the date of this notice is 14,320,345.

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 Pressure Technologies, under the Disclosure and Transparency Rules.

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director	Today only:  020 7920 3150 Thereafter:  0114 242 7500 www.pressuretechnologies.com
Tavistock Communications Catriona Valentine / Emma Blinkhorn	Tel:  [phone]
Charles Stanley Securities (Nomad and broker) Philip Davies / Carl Holmes	Tel:  [phone]

Company description - www.pressuretechnologies.com

With its head office in Sheffield and its origins going back to 1897, Pressure Technologies is a growing, profitable, debt-free, dividend paying, AIM listed, leading designer and manufacturer of speciality engineering solutions for high pressure systems serving large global markets. The company is building a highly profitable group of companies, specialising in technology for the containment and control of liquids and gases in pressure systems through a combination of organic initiatives and acquisitions.

Pressure Technologies has three divisions, Cylinders, Engineered Products and Alternative Energy,serving four markets: oil and gas, defence, industrial gases and alternative energy.

Cylinders

·   Chesterfield Special Cylinders, Sheffield, cornerstone at IPO in 2007 www.chesterfieldcylinders.com

·   Kelley GTM Manufacturing, Amarillo - 40% stake acquired by the Group in December 2013 with an option to acquire a further 40% in 2015 www.kellygtm.com

Engineered Products

·   Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk

·   Hydratron, Manchester and Houston, acquired in 2010 www.hydratron.co.uk

·   Roota Engineering Limited, Rotherham, acquired in March 2014 www.roota.co.uk

Alternative Energy

·   Chesterfield BioGas Limited, Sheffield, founded in 2008 www.chesterfieldbiogas.co.uk 

 

END

 

 

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