10 Jan 2014 15:21
10 January 2014
Torotrak plc
("Torotrak", the "Company" or the "Group")
Board Changes & Director / PDMR Shareholdings
Torotrak (LSE: TRK), a leading developer and supplier of emissions reduction and fuel efficiency technology for vehicles, confirms that pursuant to Completion of the acquisition of Flybrid Automotive Limited, the Placing, Subscription and the Open Offer (the "Transaction") announced on 8 January 2014, Jonathan Hilton has been appointed Commercial Director of Torotrak and has joined the Board of Directors and Douglas Cross has been appointed Chief Technology Officer. In addition, Gary Wilson has stepped down as Executive Director for engineering and programme delivery.
Following the Completion of the Transaction, the Company announces the following dealings by the Directors and PDMRs in the Company's Ordinary Shares.
Directors | Number of Ordinary Shares prior to the Transaction | Number of Ordinary Shares acquired in the Transaction | Total number of Ordinary Shares currently held | Total % of Ordinary Shares currently held |
John Weston | 300,000 | 333,333 | 633,333 | 0.23 |
Jeremy Deering | 584,208 | 333,333 | 917,541 | 0.33 |
Rex Vevers | - | 277,777 | 277,777 | 0.10 |
Jonathan Hilton | - | 5,485,893 | 5,485,893 | 2.00 |
Nicolas Barter | 67,041 | 138,888 | 205,929 | 0.08 |
John McLaren | - | 166,666 | 166,666 | 0.06 |
PDMR | ||||
Douglas Cross | - | 2,351,097 | 2,351,097 | 0.86 |
Capitalised terms used in this announcement have the same meanings given to them in the prospectus published by the Company on 13 December 2014.
For more information, please contact:
Torotrak plc Jeremy Deering, Chief Executive / Rex Vevers, Finance Director |
Tel: +44 1772 900931
|
Charles Stanley Securities (financial adviser and joint broker to Torotrak) Marc Milmo / Karri Vuori / Carl Holmes |
Tel: +44 20 7149 6000
|
N+1 Singer (joint broker to Torotrak) Andrew Craig / Ben Wright |
Tel: +44 20 7496 3000
|
Tavistock Communications (financial PR) Simon Hudson / Lulu Bridges / James Collins |
Tel: +44 20 7920 3150 or +44 (0)7966 477256 |