Enteq Upstream PLC Issue of Equity (9383S)
15 March 2019 - 3:32AM
UK Regulatory
TIDMNTQ
RNS Number : 9383S
Enteq Upstream PLC
14 March 2019
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 12 March 2019 it issued and allotted 180,126 new ordinary
shares of 1p each ("Ordinary Shares") to various Directors in
compensation for remuneration due. This compensation was taken in
new Ordinary Shares, rather than cash, in line with the Directors
support of the Company's policy to preserve cash and their belief
in the Company's longer-term potential.
These new Ordinary Shares were issued in compensation for the
elements of remuneration foregone in respect of the period 1 June
2018 to 31 January 2019, at a price of 28.0p per new Ordinary
Share. The issue price reflects 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 55,264 2,732,547 4.28%
David Steel 39,060 804,151 1.26%
Robin Pinchbeck 42,901 1,099,447 1.72%
Iain Paterson 42,901 506,065 0.79%
Application has been made for the 180,126 new Ordinary Shares to
be admitted to trading on AIM which is expected to occur on 20
March 2019. Following the above issue of new Ordinary Shares, the
number of Ordinary Shares (each carrying one vote) in issue is
63,885,427. There are no shares held in treasury. The figure of
63,885,427 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.
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
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Finance Director
3. Chairman
4. Non-executive Director
--------------------------------- ------------------------------------
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 2138006BKS2MOAPRUB75
--------------------------------- ------------------------------------
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)
GBP0.280 1. 55,264
2. 39,060
3. 42,901
4. 42,901
----------------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 12 March 2019
--------------------------------- ------------------------------------
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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