Modern Water PLC

Director/PDMR Shareholding and Open Offer Update

RNS Number : 0517F
Modern Water PLC
24 October 2018
 

 

24 October 2018

 

Modern Water plc

("Modern Water" or "the Company")

 

Director/PDMR Shareholding and Open Offer Update

Modern Water plc (AIM:MWG), the owner of leading technologies for water and wastewater treatment and for the monitoring of water quality, has been notified that Dr Piers Clark has purchased 227,272 shares in the open market, representing 0.23% of the issued share capital. Dr Piers Clark did not hold any shares in the Company prior to this.

The Company has also been notified that all PDMRs with eligible shareholdings, representing 3.6% of the issued share capital, have subscribed for basic entitlement shares in the open offer as detailed in the following table:


Current

%

Subscribed

Resulting

%*


Simon Humphrey

1,832,000

1.82%

50,000

1,882,000

1.70%

Toby Schumacher

631,000

0.63%

16,666

647,666

0.59%

Mike Townend

605,000

0.60%

43,296

648,296

0.59%

Stephen Heaps

550,000

0.55%

55,000

605,000

0.55%

* assumes 100% of the open offer is subscribed

The PDMRs have also applied for 17,203 excess entitlement shares which will be allocated appropriately and disclosed following the close of the Open Offer based on the take up of the excess entitlements. There is therefore no guarantee that this will be the exact number of shares taken up by the PDMRs. The open offer is due to close on Friday 26th October 2018 at 11am.

Individual PDMR shareholdings will be disclosed in due course for both the basic and excess entitlements.

Simon Humphrey, Modern Water's CEO, said: "I am pleased to see our open offer has been supported by all of the company's senior management team that were able to participate". 

--Ends--

 

For further information:

 

Modern Water plc

+44 (0) 1483 696 000

Simon Humphrey, Chief Executive

WH Ireland Limited (Nominated Adviser)

+44 (0) 207 220 1666

Chris Fielding

James Sinclair-Ford

Hayley Richardson (Corporate Broker)

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Dr Piers Clark

2

Reason for the notification

 

a)

Position / status

Non-Executive Director

b)

Initial notification / amendment

Initial notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

Modern Water plc

 

b)

LEI

 

213800MTSDJQ13UBC211

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted 

a)

Description of financial instrument,

type of instrument

Ordinary shares of 0.25p each


Identification Code

 

GB00B1XF5X66

b)

Nature of the transaction

Purchase of ordinary shares of 0.25p each

 

c)

Price(s) and volume(s)

 

Price: 9.5p

Volume: 227,272

d)

Aggregated information

-      Aggregated volume

 -      Price

 

 

-      Aggregated volume: 227,272

-      Price: 9.50p

e)

Date of the transaction

 

23 October 2018

f)

Place of the transaction 

London

 

 

Notes to editors:

 

Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.

 

www.modernwater.com


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