Chesterfield Special Cylinders Holdings PLC

M&A Activity • May 13, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 8450Y

Pressure Technologies PLC

13 May 2019

13 May 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")

Development in the proposed sale of Greenlane Biogas

Pressure Technologies (AIM: PRES), the specialist engineering group, announces that further to the update on 1 April 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"), conditional approval for the transaction has been given by the TSX-V and a Filing Statement has today been filed. Completion will follow conclusion of the private placement. Final details and terms of the Proposed Sale will be announced at Completion, which is expected to be before the end of May 2019.

A copy of the Filing Statement is available under Creation Capital's SEDAR profile and can be accessed via this link. Link to Filing statement.

For further information, please contact:

Pressure Technologies plc Chris Walters, Chief Executive Joanna Allen, Chief Financial Officer	Tel: 0114 257 3616 www.pressuretechnologies.com
Cantor Fitzgerald Europe (Nominated Adviser and Broker)	Tel: 020 7894 7000
Philip Davies / Will Goode
Belvedere Communications Keeley Clarke (kclarke@belvederepr.com) Cat Valentine (cvalentine@belvederepr.com)	Tel: 07967 816 525 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 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCFXLFFKEFLBBK