Water Intelligence PLC Completion of Reacquisition of Minority Interest (6019T)
09 January 2017 - 6:00PM
UK Regulatory
TIDMWATR
RNS Number : 6019T
Water Intelligence PLC
09 January 2017
Water Intelligence plc ("Water Intelligence" or the
"Company")
Completion of Reacquisition of Minority Interest
Further to the announcement of 12 September 2013, the Company
has completed the final purchase of all remaining shares owned by
certain former minority shareholders (the "Minority Shareholders")
of American Leak Detection Holding Corp. ("ALD") (a wholly owned
subsidiary of the Company) pursuant to rights granted to the
Minority Shareholders at the time of the acquisition of ALD by the
Company. The Minority Shareholders exercised their rights to sell
99,936 Consideration Shares to the Company at a price of 75 pence
per Consideration Share.
The Consideration Shares will be held in treasury and used by
the Company in lieu of performance-based bonuses in recognition of
Water Intelligence's 2016 transactions, namely franchise
reacquisitions of South New Jersey, Cincinnati, Northwest Arkansas
and Sydney, the acquisition of NRW Utilities, bank refinancing and
equity financing at a premium to the market price. David
Silverstone, a director of the Company, received 38,500 of such
Ordinary Shares. Following this transaction, David Silverstone
holds 38,500 Ordinary Shares in the Company, representing
approximately 0.32% of the voting rights in the Company. Robert
Mitchell, a director of the Company, received 9,936 Ordinary Shares
in the Company, representing approximately 0.08% of the voting
rights in the Company.
Enquiries:
Water Intelligence plc Tel: +1 203 654
Patrick DeSouza, Executive Chairman 5426
finnCap Ltd Tel: +44 (0) 207
Adrian Hargrave / Giles Rolls, corporate 220 0500
finance
Stephen Norcross, corporate broking
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the PDMR / person closely
associated
--- ---------------------------------------------------------
a) Name David Silverstone
--- ------------------------------ -------------------------
2. Reason for the notification
--- ---------------------------------------------------------
a) Position / status Executive Director
--- ------------------------------ -------------------------
b) Initial notification Initial notification
/ amendment
--- ------------------------------ -------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- ---------------------------------------------------------
a) Name Water Intelligence
plc
--- ------------------------------ -------------------------
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 Ordinary shares of
of the financial GBP0.01 each in Water
instrument, Intelligence plc
type of instrument GB00BZ973D04
Identification
code
--- ------------------------------ -------------------------
b) Nature of the Consideration in lieu
transaction of performance-related
bonus
--- ------------------------------ -------------------------
c) Price(s) and 38,500 Ordinary Shares
volume(s) at a price of 95 pence
--- ------------------------------ -------------------------
d) Aggregated information N/a (Single transaction)
* Aggregated volume
* Price
--- ------------------------------ -------------------------
e) Date of the 6 January 2017
transaction
--- ------------------------------ -------------------------
f) Place of the London Stock Exchange
transaction (XLON)
--- ------------------------------ -------------------------
1. Details of the PDMR / person closely
associated
--- ---------------------------------------------------------
a) Name Robert Mitchell
--- ------------------------------ -------------------------
2. Reason for the notification
--- ---------------------------------------------------------
a) Position / status Executive Director
--- ------------------------------ -------------------------
b) Initial notification Initial notification
/ amendment
--- ------------------------------ -------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- ---------------------------------------------------------
a) Name Water Intelligence
plc
--- ------------------------------ -------------------------
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 Ordinary shares of
of the financial GBP0.01 each in Water
instrument, Intelligence plc
type of instrument GB00BZ973D04
Identification
code
--- ------------------------------ -------------------------
b) Nature of the Consideration in lieu
transaction of performance-related
bonus
--- ------------------------------ -------------------------
c) Price(s) and 9.936 Ordinary Shares
volume(s) at a price of 95 pence
--- ------------------------------ -------------------------
d) Aggregated information N/a (Single transaction)
* Aggregated volume
* Price
--- ------------------------------ -------------------------
e) Date of the 6 January 2017
transaction
--- ------------------------------ -------------------------
f) Place of the London Stock Exchange
transaction (XLON)
--- ------------------------------ -------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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