Enteq Upstream PLC Director/PDMR Shareholding (7724T)
July 05 2018 - 10:36AM
UK Regulatory
TIDMNTQ
RNS Number : 7724T
Enteq Upstream PLC
05 July 2018
Enteq Upstream plc
("Enteq" or the "Company")
Issue of shares
and
Director/PDMR Shareholding
Enteq, the oil and gas drilling technology Company, announces
that on 5 July 2018 it issued and allotted 1,019,053 new ordinary
shares of 1p each ("Ordinary Shares") to the Directors and a senior
manager in compensation for remuneration due. This compensation was
taken in new Ordinary Shares, rather than cash, in line with the
Directors' and senior manager's support of the Company's policy to
preserve cash.
93,090 new Ordinary Shares were issued in compensation for the
elements of remuneration foregone in respect of the period 1
January 2018 to 31 May 2018, at a price of 27.5p per new Ordinary
Share. 925,963 new Ordinary Shares were issued in compensation for
the elements of remuneration foregone in respect of the period 1
April 2017 to 31 March 2018, at a price of 23.3p per new Ordinary
Share. Both the issue prices reflect the Company's average share
price during the period to which the compensation relates.
These new Ordinary Shares issued to the Directors were as
follows:
Total holding after
issue
Number of Number of % Enlarged
new Ordinary Ordinary issued share
Name Shares issued Shares capital
Martin Perry 474,554 2,677,283 4.22%
David Steel 242,469 765,091 1.21%
Iain Paterson 27,302 463,164 0.73%
Robin Pinchbeck 27,302 1,056,546 1.66%
Application has been made for the 1,019,053 new Ordinary Shares
to be admitted to trading on AIM which is expected to occur on 11
July 2018. Following the above issue of new Ordinary Shares, the
number of Ordinary Shares (each carrying one vote) in issue is
63,471,146. There are no shares held in treasury. The figure of
63,471,146 may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interests in, or a change to their interests in, the
share capital of Enteq under the Disclosure and Transparency
Rules.
Note that in the announcement made on 3 July the number of
ordinary shares held by David Steel, after the transaction, was
incorrectly stated to be 1,020,737. The correct figure was
522,622.
For further information, please contact:
Enteq Upstream plc +44 (0)1494 618739
Martin Perry, Chief Executive Officer
David Steel, Finance Director
Investec Bank plc (NOMAD and Broker) +44 (0)207 597 4000
Chris Treneman, Patrick Robb, David
Anderson
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name 1. Martin Perry
2. David Steel
3. Iain Paterson
4. Robin Pinchbeck
5. Raymond Garcia
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Finance Director
3. Non-Executive Director
4. Non-Executive Director
5. Chief Operating Officer
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Enteq Upstream
--------------------------------- ------------------------------------
b) LEI n/a
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB00B41Q8Q68
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Issue of shares in compensation
for cash remuneration
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.275 1. 26,464
GBP0.233 2. 12,022
3. 27,302
4. 27,302
1. 448,090
2. 230,447
5. 247,426
-----------------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 July 2018
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
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
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