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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pressure Technologies Plc | AQSE:PRES.GB | Aquis Stock Exchange | Ordinary Share | GB00B1XFKR57 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 34.50 | 32.00 | 37.00 | 34.50 | 34.50 | 34.50 | 0.00 | 07:08:34 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPRES
RNS Number : 7282T
Pressure Technologies PLC
16 October 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN PRESSURE TECHNOLOGIES PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Pressure Technologies plc
("Pressure Technologies" or the "Company")
Result of Oversubscribed Placing
and Posting of Circular
London, 16 October 2017 - Pressure Technologies plc (AIM: PRES), the specialist engineering group, is pleased to announce the result of the bookbuild announced earlier today.
A total of 4,100,000 new Ordinary Shares of 5 pence each in the Company representing approximately 28.29 per cent. of the Company's existing issued ordinary share capital have been conditionally placed at a price of 122 pence per Placing Share raising proceeds of approximately GBP5.0 million (before expenses), subject to completion of the Placing.
The Placing is conditional, amongst other things, upon the passing of the Resolutions. The Placing Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of their issue.
Application has been made for the 4,100,000 new Ordinary Shares to be admitted to trading on AIM. Dealings in these new Ordinary Shares are expected to commence on 6 November 2017. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.
Other than where defined, capitalised terms used in this announcement have the meanings given to them in the Announcement released by the Company this morning at 8.00 a.m.
Total Voting Rights
Following the issue of the Placing Shares, the Company's issued share capital will comprise 18,595,165 ordinary shares of 5 pence each. The total number of voting rights in the Company will be 18,595,165. 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 share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
Circular to be posted today.
Further to this announcement that the Company has conditionally raised gross proceeds of approximately GBP5.0 million through a placing of new Ordinary Shares, the Company is pleased to announce that the Circular will be posted today notifying shareholders of a general meeting which is being convened for the purpose of, amongst other things, considering the Resolutions required in connection with the Placing, to be held at the offices of Pressure Technologies at Newton Business Centre, Newton Chambers Road, Chapeltown, Sheffield, S35 2PH at 12.00 p.m. on 3 November 2017.
A copy of the Circular will shortly be available online at www.pressuretechnologies.com
For further information, please contact:
Pressure Technologies Tel: 0114 257 3622 plc John Hayward, Chief Executive Joanna Allen, Group Finance Director Keeley Clarke, Investor Relations Cantor Fitzgerald Europe Tel: 020 7894 7000 (Sole Bookrunner, Nominated Adviser and Broker) Philip Davies Will Goode
Company description - www.pressuretechnologies.com
With its head office in Sheffield, Pressure Technologies was founded on its leading market position as a designer and manufacturer of high-pressure systems serving the global energy, defence and industrial gases markets. Today it continues to serve those markets from a broader engineering base with specialist precision engineering businesses and has a worldwide presence in Alternative Energy as a global leader in biogas upgrading.
Pressure Technologies has four divisions, Precision Machined Components, Engineered Products, Cylinders and Alternative Energy, serving four markets: oil and gas, defence, industrial gases and alternative energy.
Precision Machined Components
-- Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk -- Roota Engineering, Rotherham, acquired in March 2014 www.roota.co.uk -- Quadscot, Glasgow, acquired in October 2014 www.quadscot.co.uk -- Martract Limited, Barton-on-Humber, acquired in December 2017 www.martract.co.uk
Engineered Products
-- Hydratron, Manchester, acquired in 2010 www.hydratron.com
Cylinders
-- Chesterfield Special Cylinders, Sheffield, IPO cornerstone in 2007, CSC Deutschland Gmbh, which is based in Dorsten, Germany and Chesterfield Special Cylinders Inc. which is based in Houston, USA www.chesterfieldcylinders.com
Alternative Energy
-- Greenlane Biogas, Sheffield, UK and Vancouver, Canada and Greenlane Technologies Auckland, New Zealand (Greenlane Biogas acquired in October 2014) www.greenlanebiogas.com
Prior to publication, certain information contained within this Announcement was deemed to constitute inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. Due to the publication of this Announcement, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.
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 16, 2017 10:00 ET (14:00 GMT)
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