31 May 2018 13:39
31 May 2018
Hydrodec Group plc
(the "Company")
Director/PDMR shareholding
Andrew Black, a non-executive Director of the Company, notified the Company on 29 May 2018 that on 26 April 2018 he transferred his holding of 197,574,858 ordinary shares in the Company ("ordinary shares") from a nominee account with UBS to a nominee account with Bank Julius Baer & Co Ltd ("Julius Baer"). There has been no change in beneficial ownership. At the same time he entered into an agreement with Julius Baer to charge shares in his AIM portfolio, which includes these 197,574,858 ordinary shares, as security for a revolving credit facility. Under the terms of the charge, title to the ordinary shares can be transferred, sold or otherwise dealt with by Julius Baer following an event of default under the security agreement.
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Andrew Black | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Non-executive director | ||||
b) | Initial notification/ Amendment
| Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Hydrodec Group plc | ||||
b) | LEI
| 2138001ZQCTBFEEZCT06 | ||||
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 0.5p each
ISIN: GB00B02FJF09 | ||||
b) | Nature of the transaction
| Depositing of 197,574,858 ordinary shares with the bank, Julius Baer, as part of a portfolio of AIM shares, with the portfolio acting as security for a loan
| ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
- Aggregated volume
- Price
|
197,574,858
n/a | ||||
e) | Date of the transaction
| 26 April 2018 | ||||
f) | Place of the transaction
| Outside trading venue | ||||
For further information please contact:
Hydrodec Group plc | hydrodec@vigocomms.com | |
Lord Moynihan, Executive Chairman and Interim Chief Executive Officer | ||
Arden Partners plc (Nominated Adviser and Broker) | 0207 614 5900 | |
Chris Hardie Ciaran Walsh Alex Penney | ||
Vigo Communications (PR adviser to Hydrodec) | 020 7830 9700 | |
Patrick d'Ancona Chris McMahon |
Notes to Editors:
Hydrodec Group plc is a clean-tech industrial oil re-refining group with operations in the USA and Australia.
Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process principally targeted at the multi-billion US dollar market for transformer oil used by the world's electricity industry. MarketsandMarkets forecasts that the global transformer oil market is expected to grow from USD 1.98 billion in 2015 to USD 2.79 billion by 2020 at a CAGR of 7.14%.
Used transformer oil is currently processed at two commercial plants with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs (polychlorinated biphenyls), a toxic additive banned under international regulations.
In 2016 Hydrodec received carbon credit approval from the American Carbon Registry ("ACR"), enabling its product to be sold with a carbon offset and creating an incremental revenue stream. The Group is now generating carbon offsets through the re-refining of used transformer oil, which would otherwise ordinarily be incinerated or disposed of in an unsustainable manner. This is a highly distinctive feature for the Group, confirming (as far as the Board is aware) Hydrodec as the only oil re-refining business in the world to receive carbon credits for its output. This is a significant endorsement of the Company's proprietary technology and standing as a leader in its field.
Hydrodec's plants are located at Canton, Ohio, US and Bomen, New South Wales, Australia.
Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.
HYR.L (HYR)