5 Apr 2016 07:00
5 April 2016
Hydrodec Group plc
("Hydrodec" or the "Company")
Directors' shareholding
The Company received notification on 1 April 2016 that on that date Alan Carruthers, a Non-Executive Director of the Company, sold, and his wife subsequently repurchased, 454,545 ordinary shares in the Company. The sale was effected at 2.625 pence per share and the purchase at 2.625 pence per share. Following the sale, Alan Carruthers' interest in the ordinary share capital of the Company remains unchanged at 1,733,434 ordinary shares (representing approximately 0.2 per cent of the issued voting share capital).
The Company also received notification on 1 April 2016 that on 31 March 2016 a family trust of which Andrew Black, a Non-Executive Director of the Company, is a beneficiary, transferred 50,000,000 ordinary shares in the Company to Andrew Black. The transfer was effected at 2.625 pence per share. Following the transfer, Andrew Black's interest in the ordinary share capital of the Company remains unchanged at 183,574,858 ordinary shares (representing approximately 24.6 per cent of the issued voting share capital).
For further information please contact:
Hydrodec Group plc |
| 020 3300 1643 |
James Hodges, General Counsel and Company Secretary
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Canaccord Genuity (Nominated Adviser and Broker) |
| 020 7523 8000 |
Guy Marks Henry Fitzgerald-O'Connor
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Vigo Communications (PR adviser to Hydrodec) |
| 020 7016 9570 |
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. 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.