16 Nov 2017 14:00
16 November 2017
Hydrodec Group plc
("Hydrodec", the "Company" or the "Group")
Notification of Director / PDMR Dealing
Hydrodec Group plc (AIM: HYR), the cleantech industrial oil re-refining group, was notified on 16 November 2017 that Lord Moynihan, the Chairman of the Company, acquired 471,845 ordinary shares of 0.5 pence each in the Company ("Ordinary Shares") at a price of 2.113 pence per share on 16 November 2017. Following the purchase, Lord Moynihan holds an interest in 11,818,895 Ordinary Shares, representing approximately 1.6 per cent. of the voting share capital of the Group.
Notification and public disclosure of transactions by persons discharging managerial responsibilities
1 | Details of the person discharging managerial responsibilities/person closely associated
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a) | Name
| Lord Colin Moynihan | ||||
2 | Reason for the notification
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a) | Position/status
| Chairman, PDMR | ||||
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
| Hydrodec Group plc | ||||
b) | LEI
| 2138001ZQCTBFEEZCT06 | ||||
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
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a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of 0.5p each
ISIN: GB00B02FJF09 | ||||
b) | Nature of the transaction
| Market purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s)
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d) | Aggregated information
- Aggregated volume
- Price
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N/a - single transaction | ||||
e) | Date of the transaction
| 16 November 2017 | ||||
f) | Place of the transaction
| London Stock Exchange, AIM | ||||
For further information please contact:
Hydrodec Group plc |
| 01372 824750 |
Chris Ellis, Chief Executive
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Canaccord Genuity (Nominated Adviser and Broker) |
| 020 7523 8000 |
Henry Fitzgerald-O'Connor Richard Andrews
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Vigo Communications (PR adviser to Hydrodec) |
| 020 7830 9700 |
Patrick d'Ancona Chris McMahon |
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Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry. MarketsandMarkets forecasts that the global transformer oil market is expected to grow from US$1.98 billion in 2015 to US$2.79 billion by 2020 at a CAGR of 7.14% from 2015 to 2020. Spent oil is currently processed at two commercial plants with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs, a toxic additive banned under international regulations.
In 2016 Hydrodec received carbon credit approval from the American Carbon Registry ("ACR"), enabling its product to be sold with a carbon offset and creating an incremental revenue stream. The Group is now generating carbon offsets through the re-refining of used transformer oil, which would otherwise ordinarily be incinerated or disposed of in an unsustainable manner. This is a highly distinctive feature for the Group, confirming (as far as the Board is aware) Hydrodec as the only oil re-refining business in the world to receive carbon credits for its output. This is a significant endorsement of the Company's proprietary technology and standing as a leader in its field.
Hydrodec's plants are located at Canton, Ohio, US and Bomen, New South Wales, Australia.
Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.