Pressure Technologies (LSE:PRES)
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TIDMPRES

RNS Number : 4809I

Pressure Technologies PLC

02 December 2022

Pressure Technologies plc

("Pressure Technologies" or the "Group")

Result of General Meeting

Director Dealing

Pressure Technologies plc, (AIM: PRES), the specialist engineering group, announces that, at its General Meeting held earlier today in connection with the proposed Fundraising to raise gross proceeds of GBP2.28 million, all resolutions were duly passed.

The proxy voting results for the resolutions are included below:

 
 Resolution                    Votes For*    % of     Votes      % of    Total votes     % of 
                                             votes    Against    votes       cast       issued 
                                             cast                cast                    share 
                                                                                        capital 
                                                                                         voted 
 1. To grant authority 
  to directors to 
  allot the New Ordinary 
  Shares pursuant 
  to the Fundraising           17,588,420   97.55%   442,250    2.45%    18,030,670     58.04% 
 2. To disapply pre-emption 
  rights in relation 
  to the New Ordinary 
  Shares                       17,588,220   97.55%   442,450    2.45%    18,030,670     58.04% 
                              -----------  -------  ---------  -------  ------------  --------- 
 

*Votes "For" include votes giving the Chairman discretion

Director/PDMR Dealings

Further to the announcement on 15 November 2022, the Company also confirms the participation of the following Directors in the Placing, as follows:

 
 Director                     Number of         Number of       Number of       Percentage 
                               Existing    Placing Shares        Ordinary      of Enlarged 
                               Ordinary        subscribed     Shares held    Share Capital 
                                 Shares        for in the    on Admission     on Admission 
                                                  Placing 
 Nicholas Salmon 
  (Chair)                             -           100,000         100,000            0.26% 
                             ----------  ----------------  --------------  --------------- 
 Chris Walters 
  (Chief Executive)              84,667            33,333         118,000            0.31% 
                             ----------  ----------------  --------------  --------------- 
 Tim Cooper 
  (Non-Executive Director)       11,666            33,333          44,999            0.12% 
                             ----------  ----------------  --------------  --------------- 
 Mike Butterworth 
  (Non-Executive Director)       80,800            33,333         114,133            0.30% 
                             ----------  ----------------  --------------  --------------- 
 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for admission of 7,600,000 New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 6 December 2022.

Following Admission, the Company's issued and fully paid share capital will consist of 38,667,163 Ordinary Shares, all of which carry one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 38,667,163. With effect from Admission, this figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement shall bear the same meaning ascribed to such terms in the Company's announcement on 15 November 2022 to announce the launch of the Fundraising.

For further information, please contact:

 
 Pressure Technologies plc            Tel: 0330 015 0710 
  Chris Walters, Chief Executive       PressureTechnologies@houston.co.uk 
  James Locking, Chief Financial 
  Officer 
 Singer Capital Markets (Nomad        Tel: 0207 496 3000 
  and Broker) 
  Rick Thompson / Asha Chotai 
 Houston (Financial PR and Investor   Tel: 0204 529 0549 
  Relations) 
  Kay Larsen / Ben Robinson 
 

COMPANY DESCRIPTION

https://www.pressuretechnologies.com/

With its head office in Sheffield, the Pressure Technologies Group was founded on its leading market position as a designer and manufacturer of high-integrity, safety-critical components and systems serving global supply chains in oil and gas, defence, industrial and hydrogen energy markets.

The Group has two divisions, Chesterfield Special Cylinders and Precision Machined Components.

   Chesterfield Special Cylinders (CSC) -     https://www.chesterfieldcylinders.com/ 

-- Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland GmbH.

   Precision Machined Components (PMC) -     www.pt-pmc.com 

-- Precision Machined Components includes the Al-Met, Roota Engineering and Martract sites.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        1. Nicholas Salmon 
                                   2. Chris Walters 
                                   3. Tim Cooper 
                                   4. Mike Butterworth 
     ---------------------  -------------------------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------------------- 
 a)   Position/status             1. PDMR (Chair) 
                                   2. PDMR (Chief Executive) 
                                   3. PDMR (Non-Executive Director) 
                                   4. PDMR (Non-Executive Director) 
     ---------------------  -------------------------------------------------------- 
 b)   Initial notification   Initial notifications 
       /Amendment 
     ---------------------  -------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------------- 
 a)   Name                   Pressure Technologies plc 
     ---------------------  -------------------------------------------------------- 
 b)   LEI                    213800PTKN1VDP2DIN05 
     ---------------------  -------------------------------------------------------- 
 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            New ordinary shares of 5p each 
       of the financial       GB00B1XFKR57 
       instrument, 
       type of instrument 
       Identification 
       code 
     ---------------------  -------------------------------------------------------- 
 b)   Nature of              Acquisition of new ordinary shares in the placing 
       the transaction 
     ---------------------  -------------------------------------------------------- 
 c)   Price(s)               PDMR                    Price(s)            Volume(s) 
       and volume(s)           1. Nicholas Salmon     1. Placing price    1. 100,000 
                                                       of 30p 
                                2. Chris Walters       2. Placing price    2. 33,333 
                                                        of 30p 
                                3. Tim Cooper          3. Placing price    3. 33,333 
                                                        of 30p 
                                4. Mike Butterworth    4. Placing price    4. 33,333 
                                                        of 30p 
                                                     ------------------  ----------- 
     ---------------------  -------------------------------------------------------- 
 d)   Aggregated             N/A 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  -------------------------------------------------------- 
 e)   Date of the            2 December 2022 
       transaction 
     ---------------------  -------------------------------------------------------- 
 f)   Place of               Outside a trading venue 
       the transaction 
     ---------------------  -------------------------------------------------------- 
 

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December 02, 2022 08:20 ET (13:20 GMT)