Issue of Equity

RNS Number : 5066Q

Pressure Technologies PLC

01 September 2014

 

                                1 September 2014

Pressure Technologies plc

Exercise of Options / Issue of Equity

Pressure Technologies plc ("the Company") announces that on 28 August 2014 it issued and allotted 42,468 new ordinary shares of 5p each in the Company, following an exercise of options pursuant to the Company's SAYE scheme. The options were exercised at a price of 150 pence per share. 

The new ordinary shares will rank pari passu with 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 5 September 2014.

Total Voting Rights

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 14,362,813.

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	Tel: [phone] 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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