Pressure Technologies PLC Update on the proposed sale of Greenlane Biogas (6253U)
01 Abril 2019 - 12:25AM
UK Regulatory
TIDMPRES
RNS Number : 6253U
Pressure Technologies PLC
01 April 2019
1 April 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF
THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Pressure Technologies plc
("Pressure Technologies" or "the Group")
Update on the proposed sale of Greenlane Biogas
Conditional Sale and Purchase Agreement signed
Further to the update on 1 February 2019, on the proposed sale
of the Group's wholly-owned subsidiary, PT Biogas Holdings Limited,
trading as Greenlane Biogas ("Proposed Sale"), to Creation Capital
Corp (TSX-V: CRN.P), a capital pool company listed on the TSX
Venture Exchange ("TSX-V"), we are pleased to report that the
conditional Sale and Purchase Agreement ("SPA") was signed today
and the process to spin-out Greenlane Biogas and list the business
on TSX-V, via the sale to Creation Capital is moving towards
completion.
Completion of the Proposed Sale is conditional upon Creation
Capital executing a successful Private Placement and securing
approvals from TSX-V, both of which it is in the process of
finalising.
For further information, please contact:
Pressure Technologies plc Tel: 0114 257 3616
Chris Walters, Chief Executive www.pressuretechnologies.com
Joanna Allen, Chief Financial
Officer
Cantor Fitzgerald Europe (Nominated Tel: 020 7894 7000
Adviser and Broker)
Philip Davies / Will Goode
Belvedere Communications
Keeley Clarke (kclarke@belvederepr.com) Tel: 07967 816 525
Cat Valentine (cvalentine@belvederepr.com) Tel: 07715 769 078
COMPANY DESCRIPTION
Company description - www.pressuretechnologies.com
With its head office in Sheffield, Pressure Technologies was
founded on its leading market position as a designer and
manufacturer of high-pressure components and systems serving the
global energy, defence and industrial gases markets.
Precision Machined Components - www.pt-pmc.com
-- Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk
-- Roota Engineering, Rotherham, acquired in March 2014 www.roota.co.uk
-- Quadscot, Glasgow, acquired in October 2014 www.quadscot.co.uk
-- Martract Limited, Barton-on-Humber, acquired in December 2016 www.martract.co.uk
Cylinders
-- Chesterfield Special Cylinders, Sheffield, IPO cornerstone in
2007 and includes, CSC Deutschland Gmbh, which is based in Dorsten,
Germany and Chesterfield Special Cylinders Inc. which is based in
Houston, USA www.chesterfieldcylinders.com
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END
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April 01, 2019 02:25 ET (06:25 GMT)
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