Grant of Options

7 Oct 2009 16:52

Pressure Technologies PLC

7 October 2009

Grant of Options

On 7 October 2009 the Board agreed to grant options over a total of 116,127 ordinary shares in the Company under the rules of the Pressure Technologies plc Performance Share Plan - Enterprise Management Incentive Plan. The options granted included an award of 51,612 options to Thomas James Lister, a director of the Company. The options are exercisable at a price of 232.5 pence per ordinary share (being the closing mid-market price on 7 October 2009), and are exercisable between 3 and 5 years following the date of grant. 

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Company description:

Pressure Technologies is the holding company for Chesterfield Special Cylinders Limited ('CSC'). CSC designs, manufactures and offers retesting and refurbishment services for a range of speciality high pressure, seamless steel gas cylinders for global energy and defence markets. The business has been conducted under the 'Chesterfield' brand which is a long established name in the cylinders and specialised pressure vessel market.

Chesterfield BioGas Limited ('Chesterfield BioGas'), an operating division of Pressure Technologies, formed in November 2008 following the signing of a co-operation agreement with Greenlane® Biogas Limited, the world leader in biogas upgrading from raw biogas to vehicle quality fuel, gives Pressure Technologies exclusive rights to market Greenlane® equipment in the UK and Eire. Chesterfield BioGas will provide turnkey solutions for the cleaning, storage and dispensing of biomethane, produced from waste water treatment and anaerobic digestion of organic waste

ENDS