Grant of Share Options

RNS Number : 9099J

Pressure Technologies PLC

23 December 2015

 

23 December 2015          

Pressure Technologies plc

("Pressure Technologies" or the "Group")

Grant of Share Options

On 21 December 2015, the Board of Pressure Technologies agreed to grant options over a total of 410,391 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 196.17 pence per ordinary share (being the average closing mid-market price between 16 December and 18 December 2015), and are exercisable after three years in accordance with the rules of the LTIP.

Of these options, 104,219 were granted to John Hayward, Chief Executive, and 71,366 were granted to Joanna Allen, Finance Director.

-Ends-

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive Joanna Allen, Group Finance Director Keeley Clarke, Investor Relations	Tel: [phone] www.pressuretechnologies.com
Cantor Fitzgerald Europe (Nominated Adviser and Broker)	Tel: [phone]
Philip Davies / Rick Thompson / Michael Reynolds / Will Goode
David Banks / Tessa Sillars

COMPANY DESCRIPTION

Company description - www.pressuretechnologies.com

With its head office in Sheffield, Pressure Technologies was founded on its leading market position as a designer and manufacturer of high pressure systems serving the global energy, defence and industrial gases markets. Today it continues to serve those markets from a broader engineering base with specialist precision engineering businesses and has a worldwide presence in Alternative Energy as the global leader in biogas upgrading. On this foundation, the company is building a highly profitable group of companies through a combination of organic initiatives and acquisitions.

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

Precision Machined Components

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

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

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

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 www.kelleygtm.com

Engineered Products

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

Alternative Energy

·      Chesterfield BioGas, Sheffield, founded in 2008. Renamed Greenlane Biogas UK on 5 June 2015.

·      Greenlane, Vancouver, Canada and Auckland, New Zealand, acquired in October 2014 www.greenlanebiogas.com

 

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