Enteq Upstream PLC Issue of Shares (0942S)

TIDMNTQ

RNS Number : 0942S

Enteq Upstream PLC

16 December 2016

Enteq Upstream plc

("Enteq" or the "Company")

Issue of shares

Enteq, the oil and gas field services Company, announces that on 15 December 2016 it issued and allotted 207,070 new ordinary shares of 1p each ("Ordinary Shares") to the Directors and various senior managers at the Company in compensation for cash salary foregone in respect of the period 1 June to 31 December 2016, at a price of 15.4p per new Ordinary Share. This issue price reflects Enteq's average closing share price during the calculation period of 6 June 2016 to 6 December 2016.

These new Ordinary Shares issued to the Directors were as follows:

 
                                Total holding 
                                 after issue 
                       Number                      % Enlarged 
                       of new                          issued 
                     Ordinary         Number    share capital 
                       Shares    of Ordinary 
 Name                  issued         Shares 
 
 Martin Perry          39,685      1,293,904            2.13% 
 Iain Paterson         67,997        327,603            0.54% 
 Robin Pinchbeck       54,398        730,792            1.20% 
 
 

Application has been made for the 207,070 new Ordinary Shares to be admitted to trading on AIM which is expected to occur on 23 December 2016. Following the above issue of new Ordinary Shares the number of Ordinary Shares (each carrying one vote) in issue is 60,711,629. There are no shares held in treasury. The figure of 60,711,629 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests in, or a change to their interests in, the share capital of Enteq under the Disclosure and Transparency Rules.

For further information, please contact:

 
 Enteq Upstream plc               [phone] 
 Martin Perry, Chief Executive 
  Officer 
 David Steel, Finance Director 
 
 Investec Bank plc (NOMAD         [phone] 
  and Broker)                      4000 
 Chris Treneman, Patrick 
  Robb, David Anderson 
 
 
 
 1.   Details of the person discharging managerial 
       responsibilities/person closely associated 
---  ----------------------------------------------------------------- 
 a)   Name                                  1. Martin Perry 
                                             2. Iain Paterson 
                                             3. Robin Pinchbeck 
---  -------------------------------  -------------------------------- 
 2.   Reason for the notification 
---  ----------------------------------------------------------------- 
 a)   Position/status                       1. Chief Executive Officer 
                                             2. Chairman 
                                             3. 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                             Enteq Upstream 
---  -------------------------------  -------------------------------- 
 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     Ordinary Shares of 1 
       instrument, type of              pence each 
       instrument                       GB00B41Q8Q68 
       Identification code 
---  -------------------------------  -------------------------------- 
 b)   Nature of the transaction        Issue of shares in compensation 
                                        for cash salary foregone 
---  -------------------------------  -------------------------------- 
 c)   Price(s) and volume(s)            Price(s)   Volume(s) 
                                        ---------  ---------------- 
                                         GBP0.154        1. 39,685 
                                                          2. 67,997 
                                                          3. 54,398 
                                        ---------  ---------------- 
---  -------------------------------  -------------------------------- 
 d)   Aggregated information           Not applicable - single 
                                        transaction 
---  -------------------------------  -------------------------------- 
 e)   Date of the transaction          15 December 2016 
---  -------------------------------  -------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
---  -------------------------------  -------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 16, 2016 06:45 ET (11:45 GMT)