Last checked at 7 Sep 2017 15:21
Water Intelligence plc (AIM: WATR.L)
("Water Intelligence" or the "Company")
Exercise of Options and PDMR Dealing
Water Intelligence, a leading provider of non-invasive leak detection and remediation services, announces that David Silverstone, an executive director of the Company, is retiring from operational activities but will remain on the board of the Company in a non-executive capacity. Pursuant to this change, Mr. Silverstone has exercised a portion of his options holdings to subscribe for a total of 30,000 of the ordinary shares of 1p each ("Ordinary Shares") at a price of US$0.67 per Ordinary Share (the "Exercise Price").
Scott Weiner, Northeast (US) regional manager, will also be retiring from the Company. Pursuant to this change, Mr. Weiner has exercised all of his options holdings to subscribe for a total of 50,000 Ordinary Shares at the Exercise Price.
The Company has agreed to purchase the 80,000 Ordinary Shares to be issued pursuant to the above option exercises (the "Option Shares") a price of £1.24 per share from the above parties and will hold these shares in treasury to be used for employee compensation in future periods.
Following the sale of his Option Shares to the Company, David Silverstone is interested in 38,500 Ordinary Shares in the Capital of the Company.
Pursuant to the above option exercises, an application has been made to the London Stock Exchange for 80,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective at 8 a.m. on 13 September 2017.
Following the issue of the Option Shares, the issued share capital of the Company carrying voting rights is 12,153,833. Following the purchase of the Option Shares by the Company, the Company will hold 153,600 Ordinary Shares in treasury which carry no voting rights, reducing the issued share capital of the Company carrying voting rights to 12,073,833. The total number of voting rights in the Company, excluding treasury shares, will therefore be 12,073,833.
Enquiries:
Water Intelligence plc |
|
Patrick DeSouza (Executive Chairman)
| Tel: +1 203 654 5426 |
finnCap Ltd |
|
Adrian Hargrave / Giles Rolls (Corporate Finance) Stephen Norcross (Corporate Broking) | Tel: 020 7220 0500
|
1. | Details of the PDMR / person closely associated | |
a) | Name | David Silverstone |
2. | Reason for the notification | |
a) | Position / status | PDMR |
b) | Initial notification / amendment | Initial notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Water Intelligence plc |
b) | LEI | 213800AL3BNXJ1HQLP10 |
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 | Exercise of Options (30,000 $0.67 per share) and immediate sale of 30,000 shares at £1.24 per share GB00BZ973D04 |
b) | Nature of the transaction | Exercise of Options and Sale of Shares |
c) | Price(s) and volume(s) | 30,000 options exercised at $0.67 per share and 30,000 shares sold at £1.24 per share |
d) | Aggregated information | N/A (Single transaction) |
| - Aggregated volume |
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| - Price |
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e) | Date of the transaction | 7 September 2017 |
f) | Place of the transaction | Off Market |