HydroDec Group plc Grant of options (7723U)
October 27 2017 - 1:00AM
UK Regulatory
TIDMHYR
RNS Number : 7723U
HydroDec Group plc
27 October 2017
27 October 2017
Hydrodec Group plc
("Hydrodec", the "Company" or the "Group")
Grant of options
Hydrodec Group plc (AIM: HYR), the clean-tech industrial oil
re-refining group, announces that it has today made the following
grants of options to subscribe for ordinary shares in the Company
("Options") to certain of its directors:
Director Position Number of Exercise Vesting
Options price conditions
-------------- ---------------- ----------- --------- ------------
Chris Ellis Chief Executive 15,000,000 1.625 See below
Officer p
-------------- ---------------- ----------- --------- ------------
Lord Moynihan Chairman 15,000,000 1.625 See below
p
-------------- ---------------- ----------- --------- ------------
The Options will only vest, and become exercisable, if the
average mid-market closing price for an ordinary share exceeds 3p
for a period of any 90 consecutive calendar days ending on or
before 31 December 2018, or in certain other prescribed
circumstances as provided for in the terms of the Company's Share
Option Scheme (adopted 9 June 2015).
Both directors have waived any previous entitlement to options
or interests in the Company's Long Term Incentive Plan ("LTIP"). As
such, these Options represent the only interests of this type held
by any member of the Board.
Caroline Brown, the Senior Independent Director of the Company,
commented: "The Remuneration Committee (in respect of Chris Ellis),
and the independent members of that committee (in respect of Lord
Moynihan), have granted these Options in recognition of the efforts
to date of the CEO and the Chairman in driving the successful
turnaround of the Company and, through the vesting conditions, to
ensure that the interests of shareholders are well aligned with
these key members of the Board in the coming months."
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ------------------------------------------------------------
a) Name Chris Ellis
--- ------------------------- ---------------------------------
2 Reason for the notification
--- ------------------------------------------------------------
a) Position/status Chief Executive Officer
--- ------------------------- ---------------------------------
b) Initial notification/ Initial notification
Amendment
--- ------------------------- ---------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------
a) Name Hydrodec Group plc
--- ------------------------- ---------------------------------
b) LEI Pending
--- ------------------------- ---------------------------------
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 0.5p each
of the financial
instrument,
type of instrument
ISIN: GB00B02FJF09
Identification
code
--- ------------------------- ---------------------------------
b) Nature of Grant of nil cost options by
the transaction the Company under the Company's
Share Option Scheme. Subject
to a performance condition
that
the average mid-market closing
price for an ordinary share
exceeds 3p for a period of
any 90 consecutive calendar
days ending on or before 31
December 2018.
--- ------------------------- ---------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ------------
Nil 15,000,000
---------- ------------
--- ------------------------- ---------------------------------
d) Aggregated
information n/a
* Aggregated volume
* Price
--- ------------------------- ---------------------------------
e) Date of the 27 October 2017
transaction
--- ------------------------- ---------------------------------
f) Place of the Outside a trading venue
transaction
--- ------------------------- ---------------------------------
1 Details of the person discharging managerial
responsibilities/person closely associated
--- ------------------------------------------------------------
a) Name Colin Moynihan
--- ------------------------- ---------------------------------
2 Reason for the notification
--- ------------------------------------------------------------
a) Position/status Chairman
--- ------------------------- ---------------------------------
b) Initial notification/ Initial notification
Amendment
--- ------------------------- ---------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ------------------------------------------------------------
a) Name Hydrodec Group plc
--- ------------------------- ---------------------------------
b) LEI Pending
--- ------------------------- ---------------------------------
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 0.5p each
of the financial
instrument,
type of instrument
ISIN: GB00B02FJF09
Identification
code
--- ------------------------- ---------------------------------
b) Nature of Grant of nil cost options by
the transaction the Company under the Company's
Share Option Scheme. Subject
to a performance condition
that
the average mid-market closing
price for an ordinary share
exceeds 3p for a period of
any 90 consecutive calendar
days ending on or before 31
December 2018.
--- ------------------------- ---------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) ---------- ------------
Nil 15,000,000
---------- ------------
--- ------------------------- ---------------------------------
d) Aggregated
information n/a
* Aggregated volume
* Price
--- ------------------------- ---------------------------------
e) Date of the 27 October 2017
transaction
--- ------------------------- ---------------------------------
f) Place of the Outside a trading venue
transaction
--- ------------------------- ---------------------------------
For further information please contact:
Hydrodec Group plc 01372 824750
Chris Ellis, Chief Executive
Canaccord Genuity (Nominated Adviser and Broker) 020 7523 8000
Henry Fitzgerald-O'Connor
Richard Andrews
Vigo Communications (PR adviser to Hydrodec) 020 7830 9700
Patrick d'Ancona
Chris McMahon
Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil
re-refining and chemical process initially targeted at the
multi-billion US$ market for transformer oil used by the world's
electricity industry. MarketsandMarkets forecasts that the global
transformer oil market is expected to grow from US$1.98 billion in
2015 to US$2.79 billion by 2020 at a CAGR of 7.14% from 2015 to
2020. Spent oil is currently processed at two commercial plants
with distinct competitive advantage delivered through very high
recoveries (near 100%), producing 'as new' high quality oils at
competitive cost and without environmentally harmful emissions. The
process also completely eliminates PCBs, a toxic additive banned
under international regulations.
In 2016 Hydrodec received carbon credit approval from the
American Carbon Registry ("ACR"), enabling its product to be sold
with a carbon offset and creating an incremental revenue stream.
The Group is now generating carbon offsets through the re-refining
of used transformer oil, which would otherwise ordinarily be
incinerated or disposed of in an unsustainable manner. This is a
highly distinctive feature for the Group, confirming (as far as the
Board is aware) Hydrodec as the only oil re-refining business in
the world to receive carbon credits for its output. This is a
significant endorsement of the Company's proprietary technology and
standing as a leader in its field.
Hydrodec's plants are located at Canton, Ohio, US and Bomen, New
South Wales, Australia.
Hydrodec's shares are listed on the AIM Market of the London
Stock Exchange. For further information, please visit
www.hydrodec.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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