Pressure Technologies PLC Update on the proposed sale of Greenlane Biogas (7612O)
01 Febrero 2019 - 1:00AM
UK Regulatory
TIDMPRES
RNS Number : 7612O
Pressure Technologies PLC
01 February 2019
1 February 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")
Update on the proposed sale of Greenlane Biogas
Pressure Technologies (AIM: PRES), the specialist engineering
group, announces an update on the proposed sale of its 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").
The process to spin-out Greenlane Biogas and list the business
on TSX-V, via a sale to Creation Capital and a Private Placement by
them, is well underway and making good progress. The transaction
timetable is being actively managed and the Board now expects final
closing of the transaction with approvals before the half-year end
on 30 March 2019.
Details of the transaction were set out in the Proposed Sale
announcement released on 10 December 2018. Further progress updates
will follow in due course.
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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