Grant of Share Options

RNS Number : 7380Z

Pressure Technologies PLC

15 December 2014

 



15 December 2014

Pressure Technologies plc

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

Grant of Share Options

On 12 December 2014, the Board of Pressure Technologies agreed to grant options over a total of 121,181 ordinary shares in the Company under the rules of the Company's Long Term Incentive Share Option Plan (the "LTIP") to certain members of the Company's senior management.  The options are exercisable at a price of 473.33 pence per ordinary share (being the average closing mid-market price between 9 December and 11 December 2014), and are exercisable after three years in accordance with the rules of the LTIP.

Of these options, 38,028 were granted to John Hayward, Chief Executive, and 30,634 were granted to James Lister, Finance Director.

-Ends-

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director	Today:  020 7920 3150 Thereafter:  0114 257 3616 www.pressuretechnologies.com
Tavistock Communications Cat Valentine / Keeley Clarke / Emma Blinkhorn	Tel:  [phone]
Charles Stanley Securities (Nomad and broker) Philip Davies / Carl Holmes	Tel: [phone]

COMPANY DESCRIPTION

Company description - www.pressuretechnologies.com

With its head office in Sheffield and its origins going back to 1897, Pressure Technologies is a growing, profitable, 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, IPO cornerstone 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.kelleygtm.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, Rotherham, acquired in March 2014 www.roota.co.uk

·      Quadscot, acquired in October 2014 www.quadscot.co.uk

Alternative Energy

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

·      Greenlane, acquired in October 2014 www.greenlanebiogas.com

 

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