RedT Energy PLC Director Dealing (8191M)

TIDMRED

RNS Number : 8191M

RedT Energy PLC

02 August 2017

redT energy plc

("redT" or the "Company")

Director Dealing

The Company announces that it was notified on 1 August 2017 that on this date that Alchemy Projects Limited ("Alchemy") wholly owned by John Ward, Non-Executive Director of the Company, transferred 9 million Ordinary Shares of EUR0.01 each in the Company ("Ordinary Shares") from Alchemy to a third party at a share price of 7.12 pence.

The transfer was enacted as the result of the dissolution of a historic business partnership, which has no connection to the past, present or future operations of redT energy plc. To cover associated professional fees and costs Alchemy, in addition to the transfer, has sold a further 2 million Ordinary Shares of EUR0.01 each in the Company at a share price of 6 pence per share.

Following the transfer, Alchemy's beneficial interest in the Company's Ordinary Shares has reduced to 86,419,319 Ordinary Shares, representing 13.2 % of the Company's total issued share capital.

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ---------------------------------------------------------------------- 
 a)   Name                             John Ward 
---  -------------------------------  ------------------------------------- 
 2.   Reason for the Notification 
---  ---------------------------------------------------------------------- 
 a)   Position/status                  Director of the Company 
---  -------------------------------  ------------------------------------- 
 b)   Initial notification/amendment   Initial notification 
---  -------------------------------  ------------------------------------- 
 3.   Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  ---------------------------------------------------------------------- 
 a)   Name                             redT energy plc 
---  -------------------------------  ------------------------------------- 
 b)   LEI                              213800N2NKOTYUNRCU14 
---  -------------------------------  ------------------------------------- 
 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                   Ordinary shares 
       the Financial 
       instrument, type 
       of instrument 
---  -------------------------------  ------------------------------------- 
      Identification                   GB00B11FB960 
       code 
---  -------------------------------  ------------------------------------- 
 b)   Nature of the                    Transfer and Sale of ordinary 
       Transaction                      shares 
---  -------------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)      Volume(s) 
                                        ------------  ---------- 
                                         7.12 pence    9 million 
                                         6 pence       2 million 
---  -------------------------------  ------------------------------------- 
 d)   Aggregated information           11 million shares 
       Aggregated volume                6.92 pence 
       Price 
---  -------------------------------  ------------------------------------- 
 e)   Date of the transaction          1 August 2017 
---  -------------------------------  ------------------------------------- 
 f)   Place of the transaction         London Stock Exchange, AIM (LON:RED) 
---  -------------------------------  ------------------------------------- 
 

Enquiries:

 
 redT energy plc                    [phone] 
 Scott McGregor, Chief Executive 
  Officer 
 Joe Worthington, Investor 
  & Media Relations 
 
 Cenkos Securities plc 
 Nick Tulloch                       [phone] 
 Derrick Lee                        [phone] 
 
 Celicourt (Financial PR) 
  Mark Antelme 
  Joanna Boon 
  Jimmy Lea                         [phone] 
 
 

Notes to Editors

About redT energy

redT energy develops and supplies durable and robust energy storage machines based on proprietary vanadium redox flow technology for on and off-grid applications. The liquid storage medium affords an exceptionally long life of up to 25,000 full charge/discharge cycles and a 100 per cent usable depth of discharge. Combined with low maintenance requirements, this delivers industry leading lowest levelised cost of storage (LCOS) and total cost of ownership (TCO) results. The modular approach allows the power and energy components of systems to be independently sized to meet customer requirements.

Until now it has not been possible to directly compare variable renewable energy generation sources with diesel or fossil fuel generation. PV + Storage is now reaching 'grid parity' in many countries, a paradigm shift in energy production, which will ultimately enable a distributed energy network optimising conventional and renewable generation. The redT energy storage machine has applications in remote power, smart grids, power quality, and all aspects of renewable energy management.

To find out more about redT products or to register your interest in purchasing an energy storage machine please go to the below web address:

http://www.redtenergy.com/register-interest

For sales enquiries, please email [e-mail] or call [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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August 02, 2017 02:01 ET (06:01 GMT)