SulNOx Group PLC Shipping Evaluation & Exercise of Share Options (5624H)
November 25 2022 - 2:00AM
UK Regulatory
TIDMSNOX
RNS Number : 5624H
SulNOx Group PLC
25 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
25 November 2022
SulNOx Group Plc (the "Company" or "SulNOx")
Shipping Evaluation: Caspian Marine Services
Exercise of Share Options
(Aquis Stock Exchange: SNOX)
Shipping Evaluation: Caspian Marine Services
The board of the directors of the Company (the "Board") is
pleased to announce a meaningful shipping evaluation with Caspian
Marine Services B.V. ("CMS").
CMS operates a fleet of more than 25 offshore marine support
vessels, serving the offshore oil and gas exploration and
production industry, chartering many of their ships to large oil
majors. CMS started its operations in 2006 in Baku, the capital
city and main shipping centre of Azerbaijan, and now has vessels
strategically deployed offshore in the Caspian Sea. CMS provide a
broad range of offshore support services coupled with the highest
standards of safety, service and technology available to the
industry in the region.
Carl Rolaston, Chairman of the CMS Supervisory Board and Farid
Gurbanov, CEO of CMS said "Sustainability and the desire to reduce
fuel consumption and emissions is top of our board's agenda. We are
acutely aware that the water level of the Caspian Sea, the world's
largest inland body of water, is falling dramatically, and this is
likely to intensify in the coming years due to global warming. By
using SulNOx we are leading the way in Azerbaijan and demonstrating
to our clients that we are looking for green solutions both on a
local and national level as part of Azerbaijan's commitment to the
mitigation of climate change and implementation of adaptation
activities stated in COP27."
Lord Nicholas Fairfax, Non-Executive Director and Head of Marine
at SulNOx commented, "I have known CMS for many years and am
thrilled that we are now working together. Whilst the Republic of
Azerbaijan contributes only 0.15% of the global greenhouse gas
emissions, the country has taken an ambitious target to reduce
greenhouse gas emissions by 35% by 2030 compared to 1990. We
congratulate CMS on laying the first stone in the region and its
maritime sector by evaluating the SulNOx products in their
fleet."
Exercise of Share Options
The Company has issued 100,000 new ordinary shares of 2 pence
each ("Ordinary Shares") following the exercise of share options by
a previous director at an exercise price of 2 pence per Ordinary
Share. An application will be made to admit the new Ordinary Shares
for trading on AQSE Growth Market, which is anticipated to occur on
or around 30 November 2022 ("Admission").
On Admission, the Company will have 94,232,843 Ordinary Shares
in issue, each with one voting right. The Company does not hold any
shares in treasury and therefore the total number of voting rights
in the Company is 94,232,843. This figure should be used by
shareholders from Admission as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company under the
FCA's Disclosure Guidance and Transparency Rules.
- Ends -
For further information please contact:
SulNOx Group plc steven.cowin@sulnoxgroup.com
Steven Cowin, Director
Allenby Capital Limited Tel: 020 3328 5656
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
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END
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