REG - Flowtech Fluidpower - Option Exercise and Director's Dealings

Flowtech FluidpowerAnnouncement

19/03/2018 11:55

RNS Number : 1530I
Flowtech Fluidpower PLC
19 March 2018
 





NEWS RELEASE
Issued on behalf of Flowtech Fluidpower PLC
Immediate Release
 
 
 
 








THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN FLOWTECH FLUIDPOWER PLC OR ANY OTHER ENTITY IN ANY JURISDICTION.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR.  This inside information is set out in this Announcement.  Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.
 
FLOWTECH FLUIDPOWER PLC
("Flowtech" the "Group" or "Company")
 
Option Exercise and Director's Dealings




 
 
London: Monday, 19 March 2018:  AIM listed specialist technical fluid power products supplier Flowtech Fluidpower plc (LSE: AiM: symbol: FLO) announces the following dealings by Bryce Brooks, Chief Financial Officer.
 
On 16 March 2018 Bryce Brooks exercised his Enterprise Management Incentive ("EMI") share option over 90,000 new ordinary shares (the "New Shares") at an exercise price of 100p per share.  These options were granted at the time of flotation in 2014. Following this exercise Mr Brooks has EMI share options over 159,999 shares.
 
Concurrent with exercise of the option, Mr Brooks agreed to sell 55,000 New Shares to the Flowtech Fluidpower plc Employee Benefit Trust at 176.25 pence per share, being the closing mid-market price on 15 March, and the proceeds applied to settle the exercise price. Mr Brooks has also agreed to sell the balance of 35,000 New Shares for cash to his Self-Invested Personal Pension Plan ("SIPP") at 175.5p.  Completion of these arrangements will occur following Admission.
 
Following completion of these arrangements, Mr Brooks will be beneficially interested in 129,000 shares.
 
Admission
Application will be made for the New Shares to be admitted to AIM and it is expected that admission will become effective and trading will commence at 8:00 a.m. on or around 23 March 2018 ("Admission"). The New Shares will, following Admission, rank pari passu in all respects with the existing ordinary shares in issue and will carry the right to receive all dividends and distributions declared, made or paid on or in respect of the ordinary shares after Admission.
 




 
 
 




Enquiries:
Flowtech Fluidpower plc
Sean Fennon, Chief Executive
Bryce Brooks, Chief Financial Officer
Tel: +44 (0) 1695 52796
Email: info@flowtechfluidpower.com
 




Zeus Capital Limited (Nominated Adviser and Broker)
Andrew Jones, Alistair Donnelly (corporate finance)
Dominic King, John Goold (sales & broking)
Tel: +44 (0) 20 3829 5000
 
finnCap Limited (Joint Broker)
Ed Frisby, Kate Bannatyne (corporate finance)
Rhys Williams, Emily Morris (sales & broking)
Tel: +44 (0) 20 7220 0500
 
TooleyStreet Communications (IR and media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523
or email: fiona@tooleystreet.com




 
The information below, set out in accordance with the requirements of the MAR, provides further detail.




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Bryce Brooks




2


Reason for the notification




a)


Position/status


Chief Financial Officer




b)


Initial notification/ Amendment


Initial Notification




3


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




a)


Name


Flowtech Fluidpower plc




b)


LEI


213800N68SQY5X5XS290




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
Identification code


Ordinary shares of 50p each
 GB00BM4NR742




b)


Nature of the transaction


(i)           Exercise of EMI Options
(ii)          Sale to EBT
(iii)         Sale to SIPP
(iv)         Purchase by SIPP




c)


Price(s) and volume(s)






(i)           Price(s)


Volume(s)




100.0p


90,000














(ii)          Price(s)


Volume(s)




176.25p


55,000














(iii)         Price(s)


Volume(s)




175.5p


35,000














(iv)         Price(s)


Volume(s)




175.5p


35,000




 


 




 


 




 


 









d)


Aggregated information
-      Aggregated volume
-      Price


 (i) Exercise of Options
90,000
100.0p (weighted average)
(ii) Sale to EBT
55,000
176.25 (weighted average)
(iii) Sale to SIPP
35,000
175.5p (weighted average)
(iv) Purchase by SIPP
35,000
175.5p (weighted average)
 




e)


Date of the transaction


(i)           16 March 2018
(ii)          16 March 2018
(iii)         16 March 2018
(iv)         16 March 2018




f)


Place of the transaction


(i)           London Stock Exchange, AIM
(ii)          Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 16 March 2018
(iii)         Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 16 March 2018
(iv)         Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 16 March 2018
 




 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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