Enteq Upstream PLC Issue of Equity (2641T)
July 16 2020 - 10:42AM
UK Regulatory
TIDMNTQ
RNS Number : 2641T
Enteq Upstream PLC
16 July 2020
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 16 July 2020 it issued and allotted 1,610,022 new ordinary
shares of 1p each ("Ordinary Shares") to the Executive Directors, a
former director and a senior manager in compensation for
remuneration due.
Of these new Ordinary Shares 494,667 were issued in compensation
for the elements of remuneration foregone in respect of the period
1 April 2019 to 31 March 2020, at a prices of 26.2p and 12.7p per
new Ordinary Share. These issue prices reflects the Company's
average share price during the periods to which the compensation
relates. In addition, 1,115,355 new Ordinary Shares were issued
under the Performance Share Plan ("PSP") that came into effect on
14 September 2014. Under the terms of this award, the performance
conditions having been met, the consideration for these shares was
1p per share.
These new Ordinary Shares issued to the Directors were as
follows:
Total holding after
issue
Number of Number of % Enlarged
new Ordinary Ordinary issued share
Name Shares issued Shares capital
Martin Perry 545,408 3,889,821 5.77%
David Steel 450,523 1,451,741 2.15%
Application has been made for the 1,610,022 new Ordinary Shares
to be admitted to trading on AIM which is expected to occur on 22
July 2020. Following the above issue of new Ordinary Shares, the
number of Ordinary Shares (each carrying one vote) in issue is
67,456,235. There are no shares held in treasury. The figure of
67,456,235 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 and Broker) +44 (0)207 597 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. Andrew Law
--------------------------------- ------------------------------------
Reason for the notification
-----------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Finance Director
3. Commercial 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 pence each
instrument, type of 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)
GBP0.010 1. 305,355
GBP0.262 2. 270,000
GBP0.127 3. -
1. 195,519
2. 145,233
3. 36,973
1. 44,534
2. 35,290
3. 37,118
-----------------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 16 July 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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