Issue of Equity and Total Voting Rights

RNS Number : 6945F

Pressure Technologies PLC

28 April 2011

 



Pressure Technologies plc ("Pressure Technologies" or the "Company")

Issue of Equity and Total Voting Rights

Issue of Equity

Pressure Technologies plc ("the Company") announces that, on 27 April 2011, it issued 2,181 new ordinary shares of 5p each in the Company, following an exercise of options by an employee under the Company's SAYE Share Option Scheme.  The options were exercised at a price of 176p per share.

The new ordinary shares will rank pari passu with existing ordinary shares in the Company and an application has been made for these new ordinary shares to be admitted to trading on AIM, which is expected to occur on 6 May 2011.

Total Voting Rights

As a consequence of the exercise of share options as detailed above, the Company's issued capital now comprises 11,349,544 ordinary shares of 5p each. There are no ordinary shares held in Treasury. Therefore, the total number of voting rights in Pressure Technologies plc is now 11,349,544.

The above figure of 11,349,544 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director	Tel: [phone] www.pressuretechnologies.co.uk
Fairfax IS PLC Nominated Adviser and Broker Ewan Leggat/Laura Littley	Tel: [phone]
Rawlings Financial PR Limited Catriona Valentine	Tel: [phone] www.rawlingsfinancial.co.uk

Company description:

Pressure Technologies is an AIM listed, leading designer and manufacturer of speciality engineering solutions for high pressure systems serving large global markets.

The Group's largest subsidiary, Chesterfield Special Cylinders Limited ("CSC") designs, manufactures and offers retesting and refurbishment services for a range of speciality high pressure, seamless steel gas cylinders for global energy and defence markets. The business is conducted under the "Chesterfield" brand which is a long established name in the cylinders and specialised pressure vessel market.

Chesterfield BioGas Limited was formed in November 2008 following the signing of a co-operation agreement with Greenlane® Biogas Limited, the world leader in biogas upgrading. This gives Pressure Technologies exclusive rights to market and manufacture Greenlane® equipment in the UK and Eire. Chesterfield BioGas provides turnkey solutions for the cleaning, storage and dispensing of biomethane for injection into the gas grid or use as a vehicle fuel.

In 2010, the Engineered Products Division was formed following the purchase of Al-Met Limited ("Al-Met") and the Hydratron group of companies ("Hydratron").

Al-Met is a niche manufacturer of specialised, precision engineered valve wear parts used in the oil and gas industries, which was acquired by Pressure Technologies in February 2010. Its products are used in high-pressure choke and flow control valves, designed to regulate flow volumes in extremely demanding applications in the subsea and surface oil and gas industries. The business, which was established in 1985, has developed a leading edge capability in precision machining carbides, high grade stainless steels and super alloys.

Hydratron acquired on 15 October 2010, designs, manufactures and sells a range of air operated high pressure hydraulic pumps, gas boosters, power packs, hydraulic control panels and test rigs. Hydratron has sales and manufacturing companies in Altrincham, UK, and Houston, USA and a spread of third party distributors in key locations around the world. Formed in 1981, Hydratron has since established itself as a leading supplier of quality high pressure equipment to the oil and gas industries. The full range of Hydratron products may be viewed at www.hydratron.co.uk.

 

END

 

 

IOEEASLPADAFEFF