26 Mar 2014 07:00
26 March 2014
Hydrodec Group plc
("Hydrodec" or the "Company")
Exercise of warrants
The Company announces that it has received an exercise notice in respect of warrants to subscribe for 125,000 ordinary shares of 0.5p each in the Company ("Shares") at an exercise price of 8p per share and associated subscription monies. Accordingly, the Company has today issued 125,000 new Shares to the holder of the warrants.
Application has been made for the new Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at 8.00 a.m. on 31 March 2014. The Shares will rank pari passu in all respects with existing ordinary shares.
Following Admission, and in accordance with Disclosure and Transparency Rules, the Company's issued voting ordinary share capital will be comprised of 746,682,805 Shares.
The above figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Hydrodec under the FCA's Disclosure and Transparency Rules.
For further information please contact:
Hydrodec Group plc | 020 7907 9220 |
Mike Preen, Head of Corporate and Legal Affairs | |
Peel Hunt LLP (Nominated Adviser and Broker) | 020 7418 8900 |
Justin Jones Mike Bell | |
Vigo Communications (PR adviser to Hydrodec) | 020 7016 9570 |
Patrick d'Ancona Chris McMahon |
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. 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 Young, New South Wales, Australia. Hydrodec recently acquired the business and assets of OSS Group, the UK's largest collector, consolidator and processor of used lubricant oil and seller of processed fuel oil, with a national network of oil storage and transfer stations, currently serviced by a fleet of more than 90 trucks which collect used oil and other garage workshop waste from over 30,000 customers. Used oil is converted into processed fuel oil at OSS's plant at Stourport and principally sold on to the UK quarry and power industry.
Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.