Water Intelligence PLC Exercise of Options and PDMR Dealing (1517Q)

TIDMWATR

RNS Number : 1517Q

Water Intelligence PLC

07 September 2017

Water Intelligence plc (AIM: WATR.L)

("Water Intelligence" or the "Company")

Exercise of Options and PDMR Dealing

Water Intelligence, a leading provider of non-invasive leak detection and remediation services, announces that David Silverstone, an executive director of the Company, is retiring from operational activities but will remain on the board of the Company in a non-executive capacity. Pursuant to this change, Mr. Silverstone has exercised a portion of his options holdings to subscribe for a total of 30,000 of the ordinary shares of 1p each ("Ordinary Shares") at a price of US$0.67 per Ordinary Share (the "Exercise Price").

Scott Weiner, Northeast (US) regional manager, will also be retiring from the Company. Pursuant to this change, Mr. Weiner has exercised all of his options holdings to subscribe for a total of 50,000 Ordinary Shares at the Exercise Price.

The Company has agreed to purchase the 80,000 Ordinary Shares to be issued pursuant to the above option exercises (the "Option Shares") a price of GBP1.24 per share from the above parties and will hold these shares in treasury to be used for employee compensation in future periods.

Following the sale of his Option Shares to the Company, David Silverstone is interested in 38,500 Ordinary Shares in the Capital of the Company.

Pursuant to the above option exercises, an application has been made to the London Stock Exchange for 80,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at 8 a.m. on 13 September 2017.

Following the issue of the Option Shares, the issued share capital of the Company carrying voting rights is 12,153,833. Following the purchase of the Option Shares by the Company, the Company will hold 153,600 Ordinary Shares in treasury which carry no voting rights, reducing the issued share capital of the Company carrying voting rights to 12,073,833. The total number of voting rights in the Company, excluding treasury shares, will therefore be 12,073,833.

Enquiries:

 
Water Intelligence plc 
Patrick DeSouza (Executive Chairman)      Tel: +1 203 
                                           654 5426 
finnCap Ltd 
Adrian Hargrave / Giles Rolls (Corporate  Tel: [phone] 
 Finance)                                  0500 
 Stephen Norcross (Corporate Broking) 
 
 
 1.   Details of the PDMR / person 
       closely associated 
---  ---------------------------------------------------- 
 a)   Name                       David Silverstone 
---  -------------------------  ------------------------- 
 2.   Reason for the notification 
---  ---------------------------------------------------- 
 a)   Position                   PDMR 
       / status 
---  -------------------------  ------------------------- 
 b)   Initial                    Initial notification 
       notification 
       / amendment 
---  -------------------------  ------------------------- 
 3.   Details of the issuer, emission 
       allowance market participant, 
       auction platform, auctioneer 
       or auction monitor 
---  ---------------------------------------------------- 
 a)   Name                       Water Intelligence 
                                  plc 
---  -------------------------  ------------------------- 
 b)   LEI                        213800AL3BNXJ1HQLP10 
---  -------------------------  ------------------------- 
 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                Exercise of Options 
       of the financial           (30,000 $0.67 per 
       instrument,                share) and immediate 
       type of                    sale of 30,000 shares 
       instrument                 at GBP1.24 per share 
       Identification             GB00BZ973D04 
       code 
---  -------------------------  ------------------------- 
 b)   Nature of                  Exercise of Options 
       the transaction            and Sale of Shares 
---  -------------------------  ------------------------- 
 c)   Price(s)                   30,000 options exercised 
       and volume(s)              at $0.67 per share 
                                  and 30,000 shares 
                                  sold at GBP1.24 per 
                                  share 
---  -------------------------  ------------------------- 
 d)   Aggregated                 N/A (Single transaction) 
       information 
 
        *    Aggregated volume 
 
             *    Price 
---  -------------------------  ------------------------- 
 e)   Date of                    7 September 2017 
       the transaction 
---  -------------------------  ------------------------- 
 f)   Place of                   Off Market 
       the transaction 
---  -------------------------  ------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHLLFFSAIIDIID

(END) Dow Jones Newswires

September 07, 2017 10:21 ET (14:21 GMT)