FLOWTECH FLUIDPOWER PLC — Director's Dealing 2018

May 14, 2018

National Storage Mechanism | Additional information

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RNS Number : 8916N

Flowtech Fluidpower PLC

14 May 2018

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. FLOWTECH FLUIDPOWER PLC ("Flowtech" the "Group" or "Company") Option Exercise and Director's Dealings
London: Monday, 14 May 2018:  AIM listed specialist technical fluid power products supplier Flowtech Fluidpower plc (LSE: AIM: symbol: FLO) announces the following dealings by Sean Fennon, Chief Executive Officer, and Bryce Brooks, Chief Financial Officer. On 11 May 2018 Sean Fennon exercised his share options over 472,222 new ordinary shares (the "New Shares") at an exercise price of 100p per share.  These options were granted at the time of flotation in 2014.  249,999 of these options were qualifying options for the purpose of the Enterprise Management Incentive scheme and the remainder were unapproved.  Following this exercise Mr Fennon has share options over Nil shares. Concurrent with exercise of the EMI option, Mr Fennon agreed to sell 311,644 New Shares, in order to settle the exercise price for the options and certain tax liabilities arising on the exercise of the unapproved options, to the Flowtech Fluidpower plc Employee Benefit Trust at 177.5 pence per share, being the closing mid-market price on 10 May 2018.  Completion of these arrangements will occur following Admission. On 11 May 2018 Sean Fennon and Bryce Brooks exercised their put option over 340 and 103 A shares respectively in Flowtech MIP Limited which were granted at the time of flotation in 2014. In accordance with the terms of the Flowtech Management Incentive Plan ("MIP"), Flowtech has agreed to purchase these A shares by way of the issue of 561,693 and 170,160 new ordinary shares respectively (the "New MIP Shares"). Mr Fennon has also agreed to transfer the balance of 160,578 New Shares and transfer 560,987 New MIP Shares to his wife.  Completion of these arrangements will occur following Admission. Following completion of these arrangements, Mr Fennon will be beneficially interested in 941,271 shares, an increase of 722,271 shares, and Mr Brooks will be beneficially interested in 299,160 shares, an increase of 170,160 shares. Admission Application will be made for the New Shares and the New MIP Shares to be admitted to AIM. It is expected that Admission will become effective and trading will commence at 8:00 a.m. on or around 18 May 2018 ("Admission").  The New Shares and the New MIP Shares will, following Admission, rank pari passu in all respects with the existing ordinary shares in issue and will carry the right to receive all dividends and distributions declared, made or paid on or in respect of the ordinary shares after Admission. Total voting rights (TVR) Following Admission, the total number of ordinary shares and voting rights in the Company will be 60,876,606.  The Company does not hold any shares in treasury.  Shareholders may use this figure 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 and Transparency Rules.

Enquiries: Flowtech Fluidpower plc Sean Fennon, Chief Executive Bryce Brooks, Chief Financial Officer Tel: +44 (0) 1695 52796 Email: info@flowtechfluidpower.com Website: www.flowtechfluidpower.com
Zeus Capital Limited (Nominated Adviser and Broker) Andrew Jones, Alistair Donnelly (corporate finance) Dominic King, John Goold (sales & broking) Tel: +44 (0) 20 3829 5000 finnCap Limited (Joint Broker) Ed Frisby, Kate Bannatyne (corporate finance) Rhys Williams, Emily Morris (sales & broking) Tel: +44 (0) 20 7220 0500 TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com

The information below, set out in accordance with the requirements of the MAR, provides further detail.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Sean Fennon
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Flowtech Fluidpower plc
b)	LEI	213800N68SQY5X5XS290
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 of the financial instrument, type of instrument Identification code	Ordinary shares of 50p each  GB00BM4NR742
b)	Nature of the transaction	(i)           Exercise of EMI Options (ii)          Sale to EBT (iii)         Exercise of MIP Options (iv)         Transfer of Ordinary Shares

c)

Price(s) and volume(s)

(i)           Price(s)	Volume(s)
100.0p	472,222
(ii)          Price(s)	Volume(s)
177.5p	311,644
(iii)         Price(s)	Volume(s)
177.5p	561,693
(iv)          Price(s)	Volume(s)
177.5p	722,271

d)

Aggregated information

-      Aggregated volume

-      Price

-      Aggregated volume

-      Price

(i) Exercise of EMI Options

472,222

100.0p (weighted average)

(ii) Sale to EBT

311,644

177.5 (weighted average)

(iii) Exercise of MIP Options

561,693

177.5 (weighted average)

(iv) Transfer of Ordinary Shares

722,271

177.5 (weighted average)

e)

Date of the transaction

(i)           11 May 2018

(ii)          11 May 2018

(iii)         11 May 2018

(iv)         11 May 2018

f)

Place of the transaction

(i)          London Stock Exchange, AIM

(ii)         Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 11 May 2018

(iii)        London Stock Exchange, AIM

(iv)        Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 11 May 2018

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Bryce Brooks
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Flowtech Fluidpower plc
b)	LEI	213800N68SQY5X5XS290

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 of the financial instrument, type of instrument

Identification code

Ordinary shares of 50p each

GB00BM4NR742

b)

Nature of the transaction

(i)           Exercise of MIP Options

c)

Price(s) and volume(s)

(i)          Price(s)	Volume(s)
177.5p	170,160

d)

Aggregated information

N/A - Single transaction 

e)

Date of the transaction

(i)           11 May 2018

f)

Place of the transaction

(i)           London Stock Exchange, AIM

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Maureen Fennon

2

Reason for the notification

a)

Position/status

Person closely associated with Sean Fennon

b)

Initial notification/ Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Flowtech Fluidpower plc

b)

LEI

213800N68SQY5X5XS290

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 of the financial instrument, type of instrument

Identification code

Ordinary shares of 50p each

GB00BM4NR742

b)

Nature of the transaction

(i)           Transfer of Ordinary Shares

c)

Price(s) and volume(s)

(i)          Price(s)	Volume(s)
177.5p	722,271

d)

Aggregated information

N/A - Single transaction

e)

Date of the transaction

(i)           11 May 2018

f)

Place of the transaction

(i)           Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 11 May 2018

This information is provided by RNS

The company news service from the London Stock Exchange

END

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