Enteq Upstream PLC Issue of Equity (0547J)
June 23 2017 - 8:55AM
UK Regulatory
TIDMNTQ
RNS Number : 0547J
Enteq Upstream PLC
23 June 2017
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 23 June 2017 it issued and allotted 1,043,053 new ordinary
shares of 1p each ("Ordinary Shares") to the Directors and various
senior managers at the Company in compensation for remuneration
due. This compensation was taken in new Ordinary Shares, rather
than cash, in line with the Directors and senior managers support
of the Company's policy to preserve cash and their belief in the
Company's longer-term potential.
810,471 new Ordinary Shares were issued in compensation for the
elements of remuneration foregone in respect of the period 1 April
2016 to 31 March 2017, at a price of 16.6p per new Ordinary Share.
232,582 new Ordinary Shares were issued in compensation for the
elements of remuneration foregone in respect of the period 1
January 2017 to 31 May 2017, at a price of 22.8p 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 % Enlarged
of new issued
Ordinary Number share capital
Shares of Ordinary
Name issued Shares
Martin Perry 441,288 1,936,256 3.14%
David Steel 244,886 442,340 0.72%
Iain Paterson 32,825 360,428 0.58%
Robin Pinchbeck 48,968 980,824 1.59%
Application has been made for the 1,043,053 new Ordinary Shares
to be admitted to trading on AIM which is expected to occur on 29
June 2017. Following the above issue of new Ordinary Shares, the
number of Ordinary Shares (each carrying one vote) in issue is
61,754,682. There are no shares held in treasury. The figure of
61,754,682 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 +44 (0)207 597
and Broker) 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 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
instrument, type of pence each
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)
---------- -----------------
GBP0.166 1. 420,146
GBP0.228 2. 115,240
3. -
4. -
1. 21,142
2. 129,646
3. 32,825
4. 48,968
---------- -----------------
--- ------------------------------- --------------------------------
d) Aggregated information Not applicable - single
transaction
--- ------------------------------- --------------------------------
e) Date of the transaction 23 June 2017
--- ------------------------------- --------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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