REG - PressureTechnologies - Development in the proposed sale of Greenlane

Pressure TechnologiesAnnouncement

13/05/2019 12:35

RNS Number : 8450Y
Pressure Technologies PLC
13 May 2019
 


 
 
 
13 May 2019
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
 
Pressure Technologies plc
("Pressure Technologies" or "the Group")
 
Development in the proposed sale of Greenlane Biogas
 
Pressure Technologies (AIM: PRES), the specialist engineering group, announces that further to the update on 1 April 2019 on the proposed sale of the Group's wholly-owned subsidiary, PT Biogas Holdings Limited, trading as Greenlane Biogas ("Proposed Sale"), to Creation Capital Corp (TSX-V: CRN.P), a capital pool company listed on the TSX Venture Exchange ("TSX-V"), conditional approval for the transaction has been given by the TSX-V and a Filing Statement has today been filed. Completion will follow conclusion of the private placement. Final details and terms of the Proposed Sale will be announced at Completion, which is expected to be before the end of May 2019.
A copy of the Filing Statement is available under Creation Capital's SEDAR profile and can be accessed via this link. Link to Filing statement.
For further information, please contact:
 



Pressure Technologies plc
Chris Walters, Chief Executive
Joanna Allen, Chief Financial Officer
 


Tel: 0114 257 3616
www.pressuretechnologies.com




Cantor Fitzgerald Europe (Nominated Adviser and Broker)


Tel: 020 7894 7000




Philip Davies / Will Goode
 








Belvedere Communications
Keeley Clarke (kclarke@belvederepr.com)
Cat Valentine (cvalentine@belvederepr.com)
 


 
Tel: 07967 816 525
Tel: 07715 769 078



 
COMPANY DESCRIPTION
 
Company description - www.pressuretechnologies.com  
With its head office in Sheffield, Pressure Technologies was founded on its leading market position as a designer and manufacturer of high-pressure components and systems serving the global energy, defence and industrial gases markets.
Precision Machined Components - www.pt-pmc.com
●     Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk 
●     Roota Engineering, Rotherham, acquired in March 2014 www.roota.co.uk 
●     Quadscot, Glasgow, acquired in October 2014 www.quadscot.co.uk 
●     Martract Limited, Barton-on-Humber, acquired in December 2016 www.martract.co.uk 
 
Cylinders
●     Chesterfield Special Cylinders, Sheffield, IPO cornerstone in 2007 and includes,  CSC Deutschland Gmbh, which is based in Dorsten, Germany and Chesterfield Special Cylinders Inc. which is based in Houston, USA www.chesterfieldcylinders.com 




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