24 Oct 2018 11:31
24 October 2018
Modern Water plc
("Modern Water" or "the Company")
Director/PDMR Shareholding and Open Offer Update
Modern Water plc (AIM:MWG), the owner of leading technologies for water and wastewater treatment and for the monitoring of water quality, has been notified that Dr Piers Clark has purchased 227,272 shares in the open market, representing 0.23% of the issued share capital. Dr Piers Clark did not hold any shares in the Company prior to this.
The Company has also been notified that all PDMRs with eligible shareholdings, representing 3.6% of the issued share capital, have subscribed for basic entitlement shares in the open offer as detailed in the following table:
Current | % | Subscribed | Resulting | %* | |
Simon Humphrey | 1,832,000 | 1.82% | 50,000 | 1,882,000 | 1.70% |
Toby Schumacher | 631,000 | 0.63% | 16,666 | 647,666 | 0.59% |
Mike Townend | 605,000 | 0.60% | 43,296 | 648,296 | 0.59% |
Stephen Heaps | 550,000 | 0.55% | 55,000 | 605,000 | 0.55% |
* assumes 100% of the open offer is subscribed | |||||
The PDMRs have also applied for 17,203 excess entitlement shares which will be allocated appropriately and disclosed following the close of the Open Offer based on the take up of the excess entitlements. There is therefore no guarantee that this will be the exact number of shares taken up by the PDMRs. The open offer is due to close on Friday 26th October 2018 at 11am.
Individual PDMR shareholdings will be disclosed in due course for both the basic and excess entitlements.
Simon Humphrey, Modern Water's CEO, said: "I am pleased to see our open offer has been supported by all of the company's senior management team that were able to participate".
--Ends--
For further information:
Modern Water plc | +44 (0) 1483 696 000 |
Simon Humphrey, Chief Executive | |
WH Ireland Limited (Nominated Adviser) | +44 (0) 207 220 1666 |
Chris Fielding James Sinclair-Ford Hayley Richardson (Corporate Broker) | |
| |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1 | Details of the person discharging managerial responsibilities / person closely associated
| |
a) | Name | Dr Piers Clark |
2 | Reason for the notification
| |
a) | Position / status | Non-Executive Director |
b) | Initial notification / amendment | Initial notification
|
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |
a) | Name | Modern Water plc
|
b) | LEI
| 213800MTSDJQ13UBC211 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |
a) | Description of financial instrument, type of instrument | Ordinary shares of 0.25p each |
Identification Code
| GB00B1XF5X66 | |
b) | Nature of the transaction | Purchase of ordinary shares of 0.25p each
|
c) | Price(s) and volume(s)
| Price: 9.5p Volume: 227,272 |
d) | Aggregated information - Aggregated volume - Price
|
- Aggregated volume: 227,272 - Price: 9.50p |
e) | Date of the transaction
| 23 October 2018 |
f) | Place of the transaction | London |
Notes to editors:
Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.
www.modernwater.com