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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hydrodec Group Plc | LSE:HYR | London | Ordinary Share | GB00BFD2QZ40 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHYR
RNS Number : 7723U
HydroDec Group plc
27 October 2017
27 October 2017
Hydrodec Group plc
("Hydrodec", the "Company" or the "Group")
Grant of options
Hydrodec Group plc (AIM: HYR), the clean-tech industrial oil re-refining group, announces that it has today made the following grants of options to subscribe for ordinary shares in the Company ("Options") to certain of its directors:
Director Position Number of Exercise Vesting Options price conditions -------------- ---------------- ----------- --------- ------------ Chris Ellis Chief Executive 15,000,000 1.625 See below Officer p -------------- ---------------- ----------- --------- ------------ Lord Moynihan Chairman 15,000,000 1.625 See below p -------------- ---------------- ----------- --------- ------------
The Options will only vest, and become exercisable, if the average mid-market closing price for an ordinary share exceeds 3p for a period of any 90 consecutive calendar days ending on or before 31 December 2018, or in certain other prescribed circumstances as provided for in the terms of the Company's Share Option Scheme (adopted 9 June 2015).
Both directors have waived any previous entitlement to options or interests in the Company's Long Term Incentive Plan ("LTIP"). As such, these Options represent the only interests of this type held by any member of the Board.
Caroline Brown, the Senior Independent Director of the Company, commented: "The Remuneration Committee (in respect of Chris Ellis), and the independent members of that committee (in respect of Lord Moynihan), have granted these Options in recognition of the efforts to date of the CEO and the Chairman in driving the successful turnaround of the Company and, through the vesting conditions, to ensure that the interests of shareholders are well aligned with these key members of the Board in the coming months."
1 Details of the person discharging managerial responsibilities/person closely associated --- ------------------------------------------------------------ a) Name Chris Ellis --- ------------------------- --------------------------------- 2 Reason for the notification --- ------------------------------------------------------------ a) Position/status Chief Executive Officer --- ------------------------- --------------------------------- b) Initial notification/ Initial notification Amendment --- ------------------------- --------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- ------------------------------------------------------------ a) Name Hydrodec Group plc --- ------------------------- --------------------------------- b) LEI Pending --- ------------------------- --------------------------------- 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 Ordinary Shares of 0.5p each of the financial instrument, type of instrument ISIN: GB00B02FJF09 Identification code --- ------------------------- --------------------------------- b) Nature of Grant of nil cost options by the transaction the Company under the Company's Share Option Scheme. Subject to a performance condition that the average mid-market closing price for an ordinary share exceeds 3p for a period of any 90 consecutive calendar days ending on or before 31 December 2018. --- ------------------------- --------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- ------------ Nil 15,000,000 ---------- ------------ --- ------------------------- --------------------------------- d) Aggregated information n/a * Aggregated volume * Price --- ------------------------- --------------------------------- e) Date of the 27 October 2017 transaction --- ------------------------- --------------------------------- f) Place of the Outside a trading venue transaction --- ------------------------- --------------------------------- 1 Details of the person discharging managerial responsibilities/person closely associated --- ------------------------------------------------------------ a) Name Colin Moynihan --- ------------------------- --------------------------------- 2 Reason for the notification --- ------------------------------------------------------------ a) Position/status Chairman --- ------------------------- --------------------------------- b) Initial notification/ Initial notification Amendment --- ------------------------- --------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- ------------------------------------------------------------ a) Name Hydrodec Group plc --- ------------------------- --------------------------------- b) LEI Pending --- ------------------------- --------------------------------- 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 Ordinary Shares of 0.5p each of the financial instrument, type of instrument ISIN: GB00B02FJF09 Identification code --- ------------------------- --------------------------------- b) Nature of Grant of nil cost options by the transaction the Company under the Company's Share Option Scheme. Subject to a performance condition that the average mid-market closing price for an ordinary share exceeds 3p for a period of any 90 consecutive calendar days ending on or before 31 December 2018. --- ------------------------- --------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) ---------- ------------ Nil 15,000,000 ---------- ------------ --- ------------------------- --------------------------------- d) Aggregated information n/a * Aggregated volume * Price --- ------------------------- --------------------------------- e) Date of the 27 October 2017 transaction --- ------------------------- --------------------------------- f) Place of the Outside a trading venue transaction --- ------------------------- ---------------------------------
For further information please contact:
Hydrodec Group plc 01372 824750 Chris Ellis, Chief Executive Canaccord Genuity (Nominated Adviser and Broker) 020 7523 8000 Henry Fitzgerald-O'Connor Richard Andrews Vigo Communications (PR adviser to Hydrodec) 020 7830 9700 Patrick d'Ancona Chris McMahon
Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry. MarketsandMarkets forecasts that the global transformer oil market is expected to grow from US$1.98 billion in 2015 to US$2.79 billion by 2020 at a CAGR of 7.14% from 2015 to 2020. Spent oil is currently processed at two commercial plants with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs, a toxic additive banned under international regulations.
In 2016 Hydrodec received carbon credit approval from the American Carbon Registry ("ACR"), enabling its product to be sold with a carbon offset and creating an incremental revenue stream. The Group is now generating carbon offsets through the re-refining of used transformer oil, which would otherwise ordinarily be incinerated or disposed of in an unsustainable manner. This is a highly distinctive feature for the Group, confirming (as far as the Board is aware) Hydrodec as the only oil re-refining business in the world to receive carbon credits for its output. This is a significant endorsement of the Company's proprietary technology and standing as a leader in its field.
Hydrodec's plants are located at Canton, Ohio, US and Bomen, New South Wales, Australia.
Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
October 27, 2017 02:00 ET (06:00 GMT)
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