PressureTechnologies - Result of General Meeting
02/12/2022 13:20
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RNS Number : 4809I Pressure Technologies PLC 02 December 2022
Pressure Technologies plc
("Pressure Technologies" or the "Group")
Result of General Meeting
Director Dealing
Pressure Technologies plc, (AIM: PRES), the specialist engineering group,
announces that, at its General Meeting held earlier today in connection with
the proposed Fundraising to raise gross proceeds of £2.28 million, all
resolutions were duly passed.
The proxy voting results for the resolutions are included below:
Resolution Votes For* % of votes cast Votes Against % of votes cast Total votes cast % of issued share capital voted
1. To grant authority to directors to allot the New Ordinary Shares 17,588,420 97.55% 442,250 2.45% 18,030,670 58.04%
pursuant to the Fundraising
2. To disapply pre-emption rights in relation to the New Ordinary Shares 17,588,220 97.55% 442,450 2.45% 18,030,670 58.04%
*Votes "For" include votes giving the Chairman discretion
Director/PDMR Dealings
Further to the announcement on 15 November 2022, the Company also confirms the
participation of the following Directors in the Placing, as follows:
Director Number of Existing Ordinary Shares Number of Placing Shares subscribed for in the Placing Number of Ordinary Shares held on Admission Percentage of Enlarged Share Capital on Admission
Nicholas Salmon - 100,000 100,000 0.26%
(Chair)
Chris Walters 84,667 33,333 118,000 0.31%
(Chief Executive)
Tim Cooper 11,666 33,333 44,999 0.12%
(Non-Executive Director)
Mike Butterworth 80,800 33,333 114,133 0.30%
(Non-Executive Director)
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of
7,600,000 New Ordinary Shares to be admitted to trading on AIM ("Admission").
Admission is expected to occur at 8.00 a.m. on 6 December 2022.
Following Admission, the Company's issued and fully paid share capital will
consist of 38,667,163 Ordinary Shares, all of which carry one voting right per
share. The Company does not hold any Ordinary Shares in treasury. Therefore,
the total number of ordinary shares and voting rights in the Company will be
38,667,163. With effect from Admission, this 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, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Capitalised terms used in this announcement shall bear the same meaning
ascribed to such terms in the Company's announcement on 15 November 2022 to
announce the launch of the Fundraising.
For further information, please contact:
Pressure Technologies plc Tel: 0330 015 0710
Chris Walters, Chief Executive PressureTechnologies@houston.co.uk
(https://investegate.co.uk/pressuretechnologies--pres-/rns/result-of-placing-and-retail-offer/202211151518285009G/about%3Ablank)
James Locking, Chief Financial Officer
Singer Capital Markets (Nomad and Broker) Tel: 0207 496 3000
Rick Thompson / Asha Chotai
Houston (Financial PR and Investor Relations) Tel: 0204 529 0549
Kay Larsen / Ben Robinson
COMPANY DESCRIPTION
https://www.pressuretechnologies.com/ (https://www.pressuretechnologies.com/)
With its head office in Sheffield, the Pressure Technologies Group was founded
on its leading market position as a designer and manufacturer of
high-integrity, safety-critical components and systems serving global supply
chains in oil and gas, defence, industrial and hydrogen energy markets.
The Group has two divisions, Chesterfield Special Cylinders and Precision
Machined Components.
Chesterfield Special Cylinders (CSC)
- https://www.chesterfieldcylinders.com/
(https://www.chesterfieldcylinders.com/)
● Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland GmbH.
Precision Machined Components (PMC) - www.pt-pmc.com
(https://pt-pmc.com/)
● Precision Machined Components includes the Al-Met, Roota Engineering and
Martract sites.
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 1. Nicholas Salmon
2. Chris Walters
3. Tim Cooper
4. Mike Butterworth
2 Reason for the notification
a) Position/status 1. PDMR (Chair)
2. PDMR (Chief Executive)
3. PDMR (Non-Executive Director)
4. PDMR (Non-Executive Director)
b) Initial notification /Amendment Initial notifications
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Pressure Technologies plc
b) LEI 213800PTKN1VDP2DIN05
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument New ordinary shares of 5p each
Identification code GB00B1XFKR57
b) Nature of the transaction Acquisition of new ordinary shares in the placing
c) Price(s) and volume(s) PDMR Price(s) Volume(s)
1. Nicholas Salmon 1. Placing price of 30p 1. 100,000
2. Chris Walters 2. Placing price of 30p 2. 33,333
3. Tim Cooper 3. Placing price of 30p 3. 33,333
4. Mike Butterworth 4. Placing price of 30p 4. 33,333
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 2 December 2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
2 December 2022
f)
Place of the transaction
Outside a trading venue
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