Flowtech Fluidpower PLC Issue of shares to the Employees Benefit Trust

RNS Number : 9472S

Flowtech Fluidpower PLC

18 June 2024

 

 

 

IMMEDIATE RELEASE

Tuesday, 18 June 2024

 

 

 

Flowtech Fluidpower plc

("the Company")

 

Issue of shares to the Employees Benefit Trust

and

Total Voting Rights

 

The Board has approved the issue and allotment of 400,000 ordinary shares in the Company (the "Allotment Shares") for nominal value of 50 pence per share, to Apex Financial Services (Trust Company) Ltd (the "Trustee"), acting in its capacity as trustee of the Flowtech Fluidpower Employee Benefit Trust (the "EBT"). The EBT is an employees' share scheme within the meaning of section 1166 of the Companies Act 2006; its purpose is to hold Ordinary Shares for the benefit of the Company's employees so that the Trustee can, in accordance with the terms of the EBT, use the Allotment Shares to satisfy the exercise of options and awards for the beneficiaries of the EBT under the Company's share incentive schemes.

 

Following the above transaction, the EBT holds 400,000 Ordinary Shares, representing approximately 0.6% of the Company's issued share capital.

 

Application will be made to the London Stock Exchange for admission to trading of the Allotment Shares on AIM (the "Admission"). Admission is expected to take place at 8.00 a.m. on 24 June 2024.

 

Total Voting Rights

Following the above transaction, the total number of voting rights in the Company will be 63,275,173. The Company holds no shares in treasury. Shareholders may use this figure 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.

 

 

 

 

Enquiries Flowtech Fluidpower plc Russell Cash, Chief Financial Officer & Company Secretary Tel: [phone] Email: [e-mail]

To read more about the Group please visit: www.flowtechfluidpower.com.

Liberum (Nominated adviser and Sole Broker) Richard Lindley / Will King Tel: [phone]

TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: [phone] or email: [e-mail]

 

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END

 

 

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