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PressureTechnologies (PRES)

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Wednesday 17 February, 2021


Receipt of Promissory Note

RNS Number : 3012P
Pressure Technologies PLC
17 February 2021

Pressure Technologies plc

("Pressure Technologies" or "the Group")

Receipt of Promissory Note

Pressure Technologies (AIM: PRES), the specialist engineering group, is pleased to announce that the outstanding principal of £3.1 million on the Promissory Note, payable under the Framework Agreement with Greenlane Renewables Inc., Creation Partners LLP and Brad Douville (the "Framework Agreement") announced on 3 July 2020, has been repaid in full, together with an interest payment of £0.3 million.

Repayment has been made earlier than the previously announced Promissory Note final maturity date of 30 June 2021 and concludes all arrangements made under the Framework Agreement.

The total consideration received by the Group for the disposal of PT Biogas Holdings Limited in June 2019 is £10.1 million.  As previously outlined, the proceeds will be used to reduce the Group's debt.



For further information, please contact:

Pressure Technologies plc

Chris Walters, Chief Executive

Tel: 0330 015 0710

[email protected]

N+1 Singer ( Nomad and Broker)

Mark Taylor / Carlo Spingardi

Tel: 0207 496 3000

Houston (Financial PR and Investor Relations)

Kate Hoare / Anushka Mathew / Ben Robinson

Tel: 0204 529 0549


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