Flowtech Fluidpower PLC Director/PDMR Shareholding (6858B)

TIDMFLO

RNS Number : 6858B

Flowtech Fluidpower PLC

24 September 2018

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

The Flowtech Fluidpower plc (the "Company" or "Flowtech")

Director / PDMR Dealing

Flowtech Fluidpower plc, the UK's leading specialist supplier of technical fluid power products, is pleased to announce that it has been notified that Nigel Richens, Non-Executive Director of Flowtech, has purchased 23,500 ordinary shares of GBP0.50 each ("Ordinary Shares") on 21(st) September 2018 at a price of 128.5p per Ordinary Share.

Following this transaction, Nigel has an interest in 73,500 Ordinary Shares, representing approximately 0.12 per cent. of the Company's issued Ordinary Share capital.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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                                Nigel Richens 
     ==================================  =================================== 
 2    Reason for the notification 
     ======================================================================= 
 a)   Position/status                     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                                Flowtech Fluidpower plc 
     ==================================  =================================== 
 b)   LEI 
                                                      213800N68SQY5X5XS290 
     ==================================  =================================== 
 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 50p 
       instrument, type of instrument      each 
 
 
 
       Identification Code                 ISIN: GB00BM4NR742 
     ==================================  =================================== 
 b)   Nature of the transaction           Purchase of Ordinary Shares 
     ==================================  =================================== 
 c)   Price(s) and volume(s)              Price(s) 128.5p 
                                           Volume(s) 23,500 
     ==================================  =================================== 
 d)   Aggregated information              N/a - single transaction 
     ==================================  =================================== 
 e)   Date of transaction                 21 September 2018 
     ==================================  =================================== 
 f)   Place of transaction                London Stock Exchange, 
                                           AIM 
     ==================================  =================================== 
 

Enquiries to:

Flowtech Fluidpower plc

Malcolm Diamond MBE, Chairman

Bryce Brooks, Chief Executive Officer and Chief Financial Officer

Tel: [phone]

Zeus Capital Limited (Nominated Adviser and Broker)

Andrew Jones, Alistair Donnelly (corporate finance)

Dominic King, John Goold (sales & broking)

Tel: [phone]

finnCap Limited (Joint Broker)

Ed Frisby, Kate Bannatyne (corporate finance)

Rhys Williams, Andrew Burdis (sales & broking)

Tel: [phone]

TooleyStreet Communications (IR and media relations)

Fiona Tooley

Tel: [phone] or email: [e-mail]

 
 About Flowtech Fluidpower plc Founded as Flowtech in 1983, the Flowtech Fluidpower Group is the UK's 
    leading specialist supplier of technical fluid power products. The 
    business joined AiM in 2014. Today, the Group has four distinct divisions: 
   Division:         What we do:                         Locations: 
  ----------------  ----------------------------------  ---------------------------------- 
   Flowtechnology    focus on supplying distributors     Flowtechnology Benelux (Deventer) 
                     and resellers of industrial          Flowtechnology China (Guangzhou) 
                     MRO products, primarily serving      Flowtechnology UK (Skelmersdale) 
                     urgent orders rather than bulk       Indequip (Skelmersdale) 
                     offerings. It offers an              Beaumanor (Leicester) 
                     unrivalled 
                     range of OEM and Exclusive 
                     Brand products to over 5,000 
                     distributors and resellers. 
                     The catalogue is recognised 
                     as the definitive source for 
                     fluid power products, containing 
                     100,000 individual product 
                     lines and are distributed to 
                     more than 100,000 industrial 
                     MRO end users. 
  ----------------  ----------------------------------  ---------------------------------- 
   Power Motion      Specialise in the design,           Primary Fluid Power (Knowsley) 
    Control (PMC)    assembly                             Nelson Hydraulics (Dublin, 
                     and supply of engineering            Lisburn, Dungannon, UK) 
                     components                           TSL Fluid Power (West Yorkshire) 
                     and hydraulic systems and is         Albroco (Knowsley) 
                     further enhanced by a service        HTL (Ludlow) 
                     and repair function.                 Hi-Power Hydraulics (Cork, 
                                                          Dublin, Belfast Manchester) 
                                                          Hydroflex (Brussels, Rotterdam 
                                                          and OudBeijerland) 
                                                          Hydraulic Equipment Supermarkets 
                                                          (Gloucester, Leeds, Birmingham, 
                                                          Durham) 
                                                          Branch Hydraulic Systems 
                                                          (Gloucester) 
                                                          HES Tractec (Gloucester) 
                                                          HES Automatec (Gloucester) 
                                                          HES Lubemec (Gloucester) 
                                                          Derek Lane & Co (Newton Abbot, 
                                                          Devon) 
  ----------------  ----------------------------------  ---------------------------------- 
   Process           Focus on the supply of industrial   Hydravalve (Willenhall) 
                      components and solutions to         Orange County (Spennymoor) 
                      the process sectors. 
  ----------------  ----------------------------------  ---------------------------------- 
   Onsite Services   During 2018, the Group is           HES Onsite (Durham, Leeds, 
                     extending                            Birmingham, Gloucester) 
                     its service offering to include 
                     Onsite Technical Maintenance 
                     through highly skilled engineers. 
  ----------------  ----------------------------------  ---------------------------------- 
   All four of the Group's divisions have overlapping product sets, allowing 
    procurement synergies to be maximised. 
   The above divisions are supported by a centralised back office team 
    at the Skelmersdale site and a procurement and quality control team 
    in Shanghai. In total, the business employs over 600 people. For more 
    information please visit, www.flowtechfluidpower.com 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 24, 2018 05:02 ET (09:02 GMT)