REG - Water Intelligence - Completion of Reacquisition of Minority Interest <Origin Href="QuoteRef">WATRI.L</Origin>

Water IntelligenceAnnouncement

09/01/2017 07:06

RNS Number : 6019T
Water Intelligence PLC
09 January 2017
Water Intelligence plc ("Water Intelligence" or the "Company")
Completion of Reacquisition of Minority Interest
Further to the announcement of 12 September 2013, the Company has completed the final purchase of all remaining shares owned by certain former minority shareholders (the "Minority Shareholders") of American Leak Detection Holding Corp. ("ALD") (a wholly owned subsidiary of the Company) pursuant to rights granted to the Minority Shareholders at the time of the acquisition of ALD by the Company. The Minority Shareholders exercised their rights to sell 99,936 Consideration Shares to the Company at a price of 75 pence per Consideration Share. 
The Consideration Shares will be held in treasury and used by the Company in lieu of performance-based bonuses in recognition of Water Intelligence's 2016 transactions, namely franchise reacquisitions of South New Jersey, Cincinnati, Northwest Arkansas and Sydney, the acquisition of NRW Utilities, bank refinancing and equity financing at a premium to the market price. David Silverstone, a director of the Company, received 38,500 of such Ordinary Shares. Following this transaction, David Silverstone holds 38,500 Ordinary Shares in the Company, representing approximately 0.32% of the voting rights in the Company. Robert Mitchell, a director of the Company, received 9,936 Ordinary Shares in the Company, representing approximately 0.08% of the voting rights in the Company.
Enquiries:
Water Intelligence plc  
Patrick DeSouza, Executive Chairman
 
Tel: +1 203 654 5426 
finnCap Ltd
Adrian Hargrave / Giles Rolls, corporate finance
Stephen Norcross, corporate broking
Tel: +44 (0) 207 220 0500




Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1.
Details of the PDMR / person closely associated
a)
Name
David Silverstone
2.
Reason for the notification
a)
Position / status
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
Water Intelligence plc
b)
LEI
N/A
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 0.01 each in Water Intelligence plc
GB00BZ973D04
b)
Nature of the transaction
Consideration in lieu of performance-related bonus
c)
Price(s) and volume(s)
38,500 Ordinary Shares at a price of 95 pence
d)
Aggregated information
N/a (Single transaction)

-Aggregated volume


-Price

e)
Date of the transaction
6 January 2017
f)
Place of the transaction
London Stock Exchange (XLON)
1.
Details of the PDMR / person closely associated
a)
Name
Robert Mitchell
2.
Reason for the notification
a)
Position / status
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
Water Intelligence plc
b)
LEI
N/A
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 0.01 each in Water Intelligence plc
GB00BZ973D04
b)
Nature of the transaction
Consideration in lieu of performance-related bonus
c)
Price(s) and volume(s)
9.936 Ordinary Shares at a price of 95 pence
d)
Aggregated information
N/a (Single transaction)

-Aggregated volume


-Price

e)
Date of the transaction
6 January 2017
f)
Place of the transaction
London Stock Exchange (XLON)

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