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4 Nov 2019 16:19
4 November 2019
ADES INTERNATIONAL HOLDING PLC
Director Dealing
Ades International Holding PLC (LSE: ADES) ("ADES" or the "Company") was notified on 4 November 2019 that Dr. Mohamed Farouk Abdelkhalek, CEO of the Company, purchased 200 of the Company's US$1.00 ordinary shares ("Shares") at average price of US$ 13 each. Following this transaction Dr. Mohamed Farouk Abdelkhalek has direct and indirect beneficial interests in 2,073,169 Shares representing 4.73 % of the Company's issued share capital.
Further information
The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transactions as described at the beginning of this announcement.
1. | Details of the person discharging managerial responsibilities/person closely associated
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a) | Name | Dr. Mohamed Farouk Abdelkhalek | ||||
2. | Reason for the notification
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a) | Position/status | CEO | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) | Name | Ades International Holding PLC | ||||
b) | LEI | 213800WADXE5U3ZY1K46 | ||||
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 instrument, type of instrument
| Ordinary Shares of UD1.00 | ||||
| Identification code | AEDFXA1EN018 | |||||
b) | Nature of the transaction | Purchase of ordinary shares by | ||||
c) | Price(s) and volume(s)
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d) | Aggregated information |
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| - Aggregated volume | 200 | |||||
| - Price | US$ 2,600 | |||||
e) | Date of the transaction | 31 October 2019 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
g) |
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ADES International Holding |
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Hussein Badawy |
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Investor Relations Officer | ir@adesgroup.com | +971 4355 0255
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Instinctif |
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David Simonson | david.simonson@instinctif.com | +44 (0)20 7457 2020 |
Dinara Shikhametova | dinara.shikhametova@instinctif.com |
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Sarah Hourahane | sarah.hourahane@instinctif.com |
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About ADES International Holding (ADES)
ADES International Holding extends oil and gas drilling and production services through its subsidiaries and is a leading service provider in the Middle East and North Africa, offering onshore and offshore contract drilling as well as workover and production services. Its c.4,000 employees serve clients including major national oil companies ("NOCs") such as Saudi Aramco and Kuwait Oil Company as well as joint ventures of NOCs with global majors including BP and Eni. While maintaining a superior health, safety and environmental record, the Group currently has a fleet of thirty-four onshore drilling rigs, thirteen jack-up offshore drilling rigs, a jack-up barge, and a mobile offshore production unit ("MOPU"), which includes a floating storage and offloading unit. For more information, visit investors.adihgroup.com
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