16 Nov 2016 17:33
16 November 2016
Powerflute
Exercise of share options by a Director
Powerflute Oyj ("Powerflute" or the "Company") today announces that on 14 November 2016 it received an irrevocable instruction from David Walton, a director of the Company, confirming his desire to exercise rights under share options granted to him by the Company to subscribe for 1,529,300 shares, with a subscription price of EUR 0.01 per share with immediate effect.
The Company will proceed with the issue, registration and application for admission of new shares to satisfy its obligations without delay.
Following completion of the necessary formalities, the number of shares in issue (excluding those held in treasury) will be 292,179,674. The expected admission date for the new shares is on or after 24 November 2016. The Company holds 5,700,000 of its own shares in treasury and the remaining number of options awarded under the Company's share option schemes but not yet exercised is 5,807,800, representing 2.0% of the Company's issue share capital (excluding treasury shares).
The shareholding of Mr Walton following completion of the issue of new shares will be 4,637,900 shares, representing 1.6% of the issued share capital.
- Ends-
For further information, please contact:
Powerflute Dermot Smurfit (Chairman) Marco Casiraghi (CEO) David Walton (CFO)
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c/o Oliver Winters FTI Consulting +44 20 3727 1535 |
Numis Securities Mark Lander (Corporate Broking) Andrew Holloway/Jamie Lillywhite (Nominated Advisor)
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+44 20 7260 1000 |
FTI Consulting Oliver Winters/Georgina Goodhew/Tom Hufton
| +44 20 3727 1535 |
DEALING NOTIFICATION FORMFOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| Details of the person discharging managerial responsibilities/person closely associated | ||||
a) | Name: David Walton | ||||
| Reason for the notification | ||||
a) | Position/status: PDMR as CFO | ||||
b) | Initial notification/Amendment: Initial Notification | ||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a) | Name: Powerflute Oyj | ||||
b) | LEI: n/a | ||||
| 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: Ordinary shares Identification code: FI0009015291 | ||||
b) | Nature of the transaction: Exercise of options | ||||
c) | Price(s) and volume(s):
| ||||
d) | Aggregated information: · Aggregated volume: 1,529,300 · Price: EUR 0.01 | ||||
e) | Date of the transaction: 14 November 2016 | ||||
f) | Place of the transaction: Off market |
POWR.L (POWR)