TIDMPOWR

RNS Number : 3925P

Powerflute Oyj

16 November 2016

16 November 2016

Powerflute

Exercise of share options by a Director

Powerflute Oyj ("Powerflute" or the "Company") today announces that on 14 November 2016 it received an irrevocable instruction from David Walton, a director of the Company, confirming his desire to exercise rights under share options granted to him by the Company to subscribe for 1,529,300 shares, with a subscription price of EUR 0.01 per share with immediate effect.

The Company will proceed with the issue, registration and application for admission of new shares to satisfy its obligations without delay.

Following completion of the necessary formalities, the number of shares in issue (excluding those held in treasury) will be 292,179,674. The expected admission date for the new shares is on or after 24 November 2016. The Company holds 5,700,000 of its own shares in treasury and the remaining number of options awarded under the Company's share option schemes but not yet exercised is 5,807,800, representing 2.0% of the Company's issue share capital (excluding treasury shares).

The shareholding of Mr Walton following completion of the issue of new shares will be 4,637,900 shares, representing 1.6% of the issued share capital.

- Ends-

For further information, please contact:

 
 Powerflute 
  Dermot Smurfit (Chairman)                c/o Oliver Winters 
  Marco Casiraghi (CEO)                    FTI Consulting 
  David Walton (CFO)                       +44 20 3727 1535 
 Numis Securities 
  Mark Lander (Corporate Broking) 
  Andrew Holloway/Jamie Lillywhite 
  (Nominated Advisor)                      +44 20 7260 1000 
 FTI Consulting 
  Oliver Winters/Georgina Goodhew/Tom 
  Hufton                                 +44 20 3727 1535

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 
      Details of the person discharging managerial 
       responsibilities/person closely associated 
---  -------------------------------------------------- 
 a)   Name: David Walton 
---  -------------------------------------------------- 
      Reason for the notification 
---  -------------------------------------------------- 
 a)   Position/status: PDMR as CFO 
---  -------------------------------------------------- 
 b)   Initial notification/Amendment: Initial 
       Notification 
---  -------------------------------------------------- 
      Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------- 
 a)   Name: Powerflute Oyj 
---  -------------------------------------------------- 
 b)   LEI: n/a 
---  -------------------------------------------------- 
      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 instrument, 
       type of instrument: Ordinary shares 
       Identification code: FI0009015291 
---  -------------------------------------------------- 
 b)   Nature of the transaction: Exercise of options 
---  -------------------------------------------------- 
 c)   Price(s) and volume(s): Price(s)   Volume(s) 
       ---------  ---------- 
        EUR 0.01   1,529,300 
       ---------  ---------- 
---  -------------------------------------------------- 
 d)   Aggregated information: 
        *    Aggregated volume: 1,529,300 
 
 
        *    Price: EUR 0.01 
---  -------------------------------------------------- 
 e)   Date of the transaction: 14 November 2016 
---  -------------------------------------------------- 
 f)   Place of the transaction: Off market 
---  --------------------------------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

November 16, 2016 12:33 ET (17:33 GMT)

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