TIDMPRES
RNS Number : 4809I
Pressure Technologies PLC
02 December 2022
Pressure Technologies plc
("Pressure Technologies" or the "Group")
Result of General Meeting
Director Dealing
Pressure Technologies plc, (AIM: PRES), the specialist
engineering group, announces that, at its General Meeting held
earlier today in connection with the proposed Fundraising to raise
gross proceeds of GBP2.28 million, all resolutions were duly
passed.
The proxy voting results for the resolutions are included
below:
Resolution Votes For* % of Votes % of Total votes % of
votes Against votes cast issued
cast cast share
capital
voted
1. To grant authority
to directors to
allot the New Ordinary
Shares pursuant
to the Fundraising 17,588,420 97.55% 442,250 2.45% 18,030,670 58.04%
2. To disapply pre-emption
rights in relation
to the New Ordinary
Shares 17,588,220 97.55% 442,450 2.45% 18,030,670 58.04%
----------- ------- --------- ------- ------------ ---------
*Votes "For" include votes giving the Chairman discretion
Director/PDMR Dealings
Further to the announcement on 15 November 2022, the Company
also confirms the participation of the following Directors in the
Placing, as follows:
Director Number of Number of Number of Percentage
Existing Placing Shares Ordinary of Enlarged
Ordinary subscribed Shares held Share Capital
Shares for in the on Admission on Admission
Placing
Nicholas Salmon
(Chair) - 100,000 100,000 0.26%
---------- ---------------- -------------- ---------------
Chris Walters
(Chief Executive) 84,667 33,333 118,000 0.31%
---------- ---------------- -------------- ---------------
Tim Cooper
(Non-Executive Director) 11,666 33,333 44,999 0.12%
---------- ---------------- -------------- ---------------
Mike Butterworth
(Non-Executive Director) 80,800 33,333 114,133 0.30%
---------- ---------------- -------------- ---------------
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for
admission of 7,600,000 New Ordinary Shares to be admitted to
trading on AIM ("Admission"). Admission is expected to occur at
8.00 a.m. on 6 December 2022.
Following Admission, the Company's issued and fully paid share
capital will consist of 38,667,163 Ordinary Shares, all of which
carry one voting right per share. The Company does not hold any
Ordinary Shares in treasury. Therefore, the total number of
ordinary shares and voting rights in the Company will be
38,667,163. With effect from Admission, this figure may be used by
Shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Capitalised terms used in this announcement shall bear the same
meaning ascribed to such terms in the Company's announcement on 15
November 2022 to announce the launch of the Fundraising.
For further information, please contact:
Pressure Technologies plc Tel: 0330 015 0710
Chris Walters, Chief Executive PressureTechnologies@houston.co.uk
James Locking, Chief Financial
Officer
Singer Capital Markets (Nomad Tel: 0207 496 3000
and Broker)
Rick Thompson / Asha Chotai
Houston (Financial PR and Investor Tel: 0204 529 0549
Relations)
Kay Larsen / Ben Robinson
COMPANY DESCRIPTION
https://www.pressuretechnologies.com/
With its head office in Sheffield, the Pressure Technologies
Group was founded on its leading market position as a designer and
manufacturer of high-integrity, safety-critical components and
systems serving global supply chains in oil and gas, defence,
industrial and hydrogen energy markets.
The Group has two divisions, Chesterfield Special Cylinders and
Precision Machined Components.
Chesterfield Special Cylinders (CSC) - https://www.chesterfieldcylinders.com/
-- Chesterfield Special Cylinders, Sheffield, includes CSC
Deutschland GmbH.
Precision Machined Components (PMC) - www.pt-pmc.com
-- Precision Machined Components includes the Al-Met, Roota
Engineering and Martract sites.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name 1. Nicholas Salmon
2. Chris Walters
3. Tim Cooper
4. Mike Butterworth
--------------------- --------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status 1. PDMR (Chair)
2. PDMR (Chief Executive)
3. PDMR (Non-Executive Director)
4. PDMR (Non-Executive Director)
--------------------- --------------------------------------------------------
b) Initial notification Initial notifications
/Amendment
--------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Pressure Technologies plc
--------------------- --------------------------------------------------------
b) LEI 213800PTKN1VDP2DIN05
--------------------- --------------------------------------------------------
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 New ordinary shares of 5p each
of the financial GB00B1XFKR57
instrument,
type of instrument
Identification
code
--------------------- --------------------------------------------------------
b) Nature of Acquisition of new ordinary shares in the placing
the transaction
--------------------- --------------------------------------------------------
c) Price(s) PDMR Price(s) Volume(s)
and volume(s) 1. Nicholas Salmon 1. Placing price 1. 100,000
of 30p
2. Chris Walters 2. Placing price 2. 33,333
of 30p
3. Tim Cooper 3. Placing price 3. 33,333
of 30p
4. Mike Butterworth 4. Placing price 4. 33,333
of 30p
------------------ -----------
--------------------- --------------------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
--------------------- --------------------------------------------------------
e) Date of the 2 December 2022
transaction
--------------------- --------------------------------------------------------
f) Place of Outside a trading venue
the transaction
--------------------- --------------------------------------------------------
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END
ROMXLLFBLLLFFBV
(END) Dow Jones Newswires
December 02, 2022 08:20 ET (13:20 GMT)
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