Last checked at 3 Mar 2011 07:00
Issue of Equity and Total Voting Rights
Issue of Equity
Pressure Technologies plc (the "Company") announces that it has today issued 5,454 new ordinary shares of 5p each in the Company, following an exercise of options by an employee under the Company's SAYE Share Option Scheme. The options were exercised at a price of 176p per share.
The new ordinary shares will rank pari passu with existing ordinary shares in the Company and application has been made for these new ordinary shares to be admitted to trading on AIM, which is expected to occur on 9 March 2011.
Total Voting Rights
As a consequence of the exercise of share options as detailed above, the Company's issued capital now comprises 11,339,074 ordinary shares of 5p each. There are no ordinary shares held in Treasury. Therefore the total number of voting rights in Pressure Technologies plc is now 11,339,074.
The above figure of 11,339,074 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
For further information, please contact:
Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director
| Tel: 0114 242 7500 www.pressuretechnologies.co.uk
|
Rawlings Financial PR Limited Catriona Valentine
| Tel: 01653 618 016
|
Fairfax IS PLC Nominated Adviser and Broker Ewan Leggat Katy Birkin
| Tel: 0207 598 5368 |
Company description:
Pressure Technologies is an AIM listed, leading designer and manufacturer of speciality engineering solutions for high pressure systems serving large global markets.
The Group's largest subsidiary, Chesterfield Special Cylinders Limited ("CSC") designs, manufactures and offers retesting and refurbishment services for a range of speciality high pressure, seamless steel gas cylinders for global energy and defence markets. The business is conducted under the "Chesterfield" brand which is a long established name in the cylinders and specialised pressure vessel market.
Chesterfield BioGas Limited was formed in November 2008 following the signing of a co-operation agreement with Greenlane® Biogas Limited, the world leader in biogas upgrading from raw biogas to vehicle quality fuel, gives Pressure Technologies exclusive rights to market Greenlane® equipment in the UK and Eire. Chesterfield BioGas provides turnkey solutions for the cleaning, storage and dispensing of biomethane produced from waste water treatment and anaerobic digestion of organic waste.
In 2010, the Engineered Products Division was formed following the purchase of Al-Met Limited ("Al-Met") and the Hydratron group of companies ("Hydratron").
Al-Met is a niche manufacturer of specialised, precision engineered valve wear parts used in the oil and gas industries, which was acquired by Pressure Technologies in February 2010. Its products are used in high-pressure choke and flow control valves, designed to regulate flow volumes in extremely demanding applications in the subsea and surface oil and gas industries. The business, which was established in 1985, has developed a leading edge capability in precision machining carbides, high grade stainless steels and super alloys.
Hydratron acquired on 15 October 2010, designs, manufactures and sells a range of air operated high pressure hydraulic pumps, gas boosters, power packs, hydraulic control panels and test rigs. Hydratron has sales and manufacturing companies in Altrincham, UK, and Houston, USA and a spread of third party distributors in key locations around the world. Formed in 1981, Hydratron has since established itself as a leading supplier of quality high pressure equipment to the oil and gas industries. The full range of Hydratron products may be viewed at www.hydratron.co.uk.