Water Intelligence PLC Completion of Reacquisition of Minority Interest (6019T)

TIDMWATR

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                       Tel: [phone] 
  Patrick DeSouza, Executive Chairman                    5426 
 finnCap Ltd                                 Tel: +44 (0) 207 
  Adrian Hargrave / Giles Rolls, corporate           220 0500 
  finance 
  Stephen Norcross, corporate broking 
 
 
 

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            Initial notification 
       / amendment 
---  ------------------------------  ------------------------- 
 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                     Ordinary shares of 
       of the financial                GBP0.01 each in Water 
       instrument,                     Intelligence plc 
       type of instrument              GB00BZ973D04 
       Identification 
       code 
---  ------------------------------  ------------------------- 
 b)   Nature of the                   Consideration in lieu 
       transaction                     of performance-related 
                                       bonus 
---  ------------------------------  ------------------------- 
 c)   Price(s) and                    38,500 Ordinary Shares 
       volume(s)                       at a price of 95 pence 
---  ------------------------------  ------------------------- 
 d)   Aggregated information          N/a (Single transaction) 
 
             *    Aggregated volume 
 
             *    Price 
---  ------------------------------  ------------------------- 
 e)   Date of the                     6 January 2017 
       transaction 
---  ------------------------------  ------------------------- 
 f)   Place of the                    London Stock Exchange 
       transaction                     (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            Initial notification 
       / amendment 
---  ------------------------------  ------------------------- 
 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                     Ordinary shares of 
       of the financial                GBP0.01 each in Water 
       instrument,                     Intelligence plc 
       type of instrument              GB00BZ973D04 
       Identification 
       code 
---  ------------------------------  ------------------------- 
 b)   Nature of the                   Consideration in lieu 
       transaction                     of performance-related 
                                       bonus 
---  ------------------------------  ------------------------- 
 c)   Price(s) and                    9.936 Ordinary Shares 
       volume(s)                       at a price of 95 pence 
---  ------------------------------  ------------------------- 
 d)   Aggregated information          N/a (Single transaction) 
 
             *    Aggregated volume 
 
             *    Price 
---  ------------------------------  ------------------------- 
 e)   Date of the                     6 January 2017 
       transaction 
---  ------------------------------  ------------------------- 
 f)   Place of the                    London Stock Exchange 
       transaction                     (XLON) 
---  ------------------------------  ------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDBGDBCSGBGRI

(END) Dow Jones Newswires

January 09, 2017 02:00 ET (07:00 GMT)