Enteq Upstream PLC Issue of Equity (5401B)
January 10 2018 - 11:32AM
UK Regulatory
TIDMNTQ
RNS Number : 5401B
Enteq Upstream PLC
10 January 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 9 January 2018 it issued and allotted 183,474 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
2017 to 31 December 2017, at a price of 21.9p 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 % Enlarged
of new issued
Ordinary Number share capital
Shares of Ordinary
Name issued Shares
Martin Perry 32,318 1,968,574 3.17%
Robin Pinchbeck 75,722 1,056,546 1.70%
Iain Paterson 75,434 435,862 0.70%
Application has been made for the 183,474 new Ordinary Shares to
be admitted to trading on AIM which is expected to occur on 16
January 2018. Following the above issue of new Ordinary Shares, the
number of Ordinary Shares (each carrying one vote) in issue is
62,017,656. There are no shares held in treasury. The figure of
62,017,656 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. Iain Paterson
3. Robin Pinchbeck
--- ------------------------------- --------------------------------
2. Reason for the notification
--- -----------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chairman
3. 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)
--------- ----------------
GBP0.219 1. 32,318
2. 75,434
3. 75,722
--------- ----------------
--- ------------------------------- --------------------------------
d) Aggregated information Not applicable - single
transaction
--- ------------------------------- --------------------------------
e) Date of the transaction 9 January 2018
--- ------------------------------- --------------------------------
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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January 10, 2018 12:32 ET (17:32 GMT)
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