Last checked at 3 Feb 2014 10:08
FOR IMMEDIATE RELEASE
Porvair plc ("Porvair" or the "Company")
Directors' Shareholdings and Issue of Equity
The Company was notified on 31 January 2014 of the following exercises of options over ordinary Porvair shares of 2 pence each ("Porvair Shares") on the same date by Ben Stocks, Chief Executive Officer, and Chris Tyler, Group Finance Director, pursuant to the Company's share option schemes.
Director | Scheme | Year of grant | Exercise price | Options exercised |
Ben Stocks | LTSP 2008 | 2011 | 2p | 250,000 |
Chris Tyler | LTSP 2008 | 2011 | 2p | 175,000 |
On the same date, the Company was notified that on such date, Ben Stocks sold 200,000 of these new Porvair Shares at a price of 285 pence per share and Chris Tyler sold 85,000 new Porvair Shares at a price of 285 pence per share in order to meet the cost of exercise, the personal taxation liabilities arising on the options and, in the case of Ben Stocks, certain other financial commitments.
The Company was notified on 25 September 2013 of the following purchases of Ordinary Shares by Andrew Walker and Ben Stocks respectively, pursuant to the Company's dividend reinvestment plan.
Director | Date of purchase | Number of Porvair shares purchased | Purchase price |
Andrew Walker | 6 September 2013 | 19 | 249p |
Ben Stocks | 6 September 2013 | 1,794 | 249p |
Following these dealings, the Directors' holdings in Porvair shares have increased. Ben Stocks is interested in 491,502 Porvair Shares, representing approximately 1.1 per cent. of the Company's issued share capital, Chris Tyler is interested in 342,450 Porvair Shares, representing approximately 0.8 per cent. of the Company's issued share capital and Andrew Walker is interested in 29,499 Porvair Shares, representing approximately 0.1 per cent. of the Company's issued share capital.
As a result of the exercise of the options noted above, the Company has, on 31 January 2014, issued in aggregate 425,000 new Porvair Shares. Following the issue of the new Porvair Shares, the Company will have 44,158,598 ordinary shares in issue. There are no Porvair Shares held in treasury.
Therefore, the total number of voting rights in the Company is 44,158,598. The above figure may be used by shareholders as the 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, the Company, under the FCA's Disclosure and Transparency Rules.
For further information, please contact:
Porvair plc | 01553 765 500 |
Ben Stocks, Chief Executive | |
Chris Tyler, Group Finance Director | |
Buchanan Communications | 0207 466 5000 |
Charles Ryland / Helen Greenwood / Clare Akhurst |
Peel Hunt LLP 020 7418 8900
Daniel Harris
Notes to Editors
Porvair is a group of specialist filtration and environmental technology businesses. Its businesses design and manufacture a range of bespoke consumable filtration products that are used in a range of niche filtration markets. Its principal markets are aviation, energy and industrial process, environmental laboratories and non-ferrous metals.