Last checked at 5 Jul 2018 15:36
Enteq Upstream plc
("Enteq" or the "Company")
Issue of shares
and
Director/PDMR Shareholding
Enteq, the oil and gas drilling technology Company, announces that on 5 July 2018 it issued and allotted 1,019,053 new ordinary shares of 1p each ("Ordinary Shares") to the Directors and a senior manager in compensation for remuneration due. This compensation was taken in new Ordinary Shares, rather than cash, in line with the Directors' and senior manager's support of the Company's policy to preserve cash.
93,090 new Ordinary Shares were issued in compensation for the elements of remuneration foregone in respect of the period 1 January 2018 to 31 May 2018, at a price of 27.5p per new Ordinary Share. 925,963 new Ordinary Shares were issued in compensation for the elements of remuneration foregone in respect of the period 1 April 2017 to 31 March 2018, at a price of 23.3p per new Ordinary Share. Both the issue prices reflect the Company's average share price during the period to which the compensation relates.
These new Ordinary Shares issued to the Directors were as follows:
| Total holding after issue
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Name | Number of new Ordinary Shares issued | Number of Ordinary Shares | % Enlarged issued share capital |
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Martin Perry | 474,554 | 2,677,283 | 4.22% |
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David Steel | 242,469 | 765,091 | 1.21% |
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Iain Paterson | 27,302 | 463,164 | 0.73% |
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Robin Pinchbeck | 27,302 | 1,056,546 | 1.66% |
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Application has been made for the 1,019,053 new Ordinary Shares to be admitted to trading on AIM which is expected to occur on 11 July 2018. Following the above issue of new Ordinary Shares, the number of Ordinary Shares (each carrying one vote) in issue is 63,471,146. There are no shares held in treasury. The figure of 63,471,146 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests in, or a change to their interests in, the share capital of Enteq under the Disclosure and Transparency Rules.
Note that in the announcement made on 3 July the number of ordinary shares held by David Steel, after the transaction, was incorrectly stated to be 1,020,737. The correct figure was 522,622.
For further information, please contact:
Enteq Upstream plc | +44 (0)1494 618739 |
Martin Perry, Chief Executive Officer | |
David Steel, Finance Director
| |
Investec Bank plc (NOMAD and Broker) | +44 (0)207 597 4000 |
Chris Treneman, Patrick Robb, David Anderson |
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | 1. Martin Perry 2. David Steel 3. Iain Paterson 4. Robin Pinchbeck 5. Raymond Garcia | ||||
2. | Reason for the notification | |||||
a) | Position/status | 1. Chief Executive Officer 2. Finance Director 3. Non-Executive Director 4. Non-Executive Director 5. Chief Operating Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Enteq Upstream | ||||
b) | LEI | n/a | ||||
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 Identification code | Ordinary Shares of 1 pence each
GB00B41Q8Q68 | ||||
b) | Nature of the transaction | Issue of shares in compensation for cash remuneration | ||||
c) | Price(s) and volume(s)
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d) | Aggregated information | Not applicable - single transaction | ||||
e) | Date of the transaction | 11 July 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||