RedT Energy PLC Director Dealing (8191M)
August 02 2017 - 2:01AM
UK Regulatory
TIDMRED
RNS Number : 8191M
RedT Energy PLC
02 August 2017
redT energy plc
("redT" or the "Company")
Director Dealing
The Company announces that it was notified on 1 August 2017 that
on this date that Alchemy Projects Limited ("Alchemy") wholly owned
by John Ward, Non-Executive Director of the Company, transferred 9
million Ordinary Shares of EUR0.01 each in the Company ("Ordinary
Shares") from Alchemy to a third party at a share price of 7.12
pence.
The transfer was enacted as the result of the dissolution of a
historic business partnership, which has no connection to the past,
present or future operations of redT energy plc. To cover
associated professional fees and costs Alchemy, in addition to the
transfer, has sold a further 2 million Ordinary Shares of EUR0.01
each in the Company at a share price of 6 pence per share.
Following the transfer, Alchemy's beneficial interest in the
Company's Ordinary Shares has reduced to 86,419,319 Ordinary
Shares, representing 13.2 % of the Company's total issued share
capital.
1. Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------------------
a) Name John Ward
--- ------------------------------- -------------------------------------
2. Reason for the Notification
--- ----------------------------------------------------------------------
a) Position/status Director of the Company
--- ------------------------------- -------------------------------------
b) Initial notification/amendment Initial notification
--- ------------------------------- -------------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- ----------------------------------------------------------------------
a) Name redT energy plc
--- ------------------------------- -------------------------------------
b) LEI 213800N2NKOTYUNRCU14
--- ------------------------------- -------------------------------------
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 Ordinary shares
the Financial
instrument, type
of instrument
--- ------------------------------- -------------------------------------
Identification GB00B11FB960
code
--- ------------------------------- -------------------------------------
b) Nature of the Transfer and Sale of ordinary
Transaction shares
--- ------------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------ ----------
7.12 pence 9 million
6 pence 2 million
--- ------------------------------- -------------------------------------
d) Aggregated information 11 million shares
Aggregated volume 6.92 pence
Price
--- ------------------------------- -------------------------------------
e) Date of the transaction 1 August 2017
--- ------------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM (LON:RED)
--- ------------------------------- -------------------------------------
Enquiries:
redT energy plc +44 207 061 6233
Scott McGregor, Chief Executive
Officer
Joe Worthington, Investor
& Media Relations
Cenkos Securities plc
Nick Tulloch +44 131 220 9772
Derrick Lee +44 131 220 9100
Celicourt (Financial PR)
Mark Antelme
Joanna Boon
Jimmy Lea +44 20 7520 9266
Notes to Editors
About redT energy
redT energy develops and supplies durable and robust energy
storage machines based on proprietary vanadium redox flow
technology for on and off-grid applications. The liquid storage
medium affords an exceptionally long life of up to 25,000 full
charge/discharge cycles and a 100 per cent usable depth of
discharge. Combined with low maintenance requirements, this
delivers industry leading lowest levelised cost of storage (LCOS)
and total cost of ownership (TCO) results. The modular approach
allows the power and energy components of systems to be
independently sized to meet customer requirements.
Until now it has not been possible to directly compare variable
renewable energy generation sources with diesel or fossil fuel
generation. PV + Storage is now reaching 'grid parity' in many
countries, a paradigm shift in energy production, which will
ultimately enable a distributed energy network optimising
conventional and renewable generation. The redT energy storage
machine has applications in remote power, smart grids, power
quality, and all aspects of renewable energy management.
To find out more about redT products or to register your
interest in purchasing an energy storage machine please go to the
below web address:
http://www.redtenergy.com/register-interest
For sales enquiries, please email enquiries@redtenergy.com or
call +44 (0) 207 061 6233
This information is provided by RNS
The company news service from the London Stock Exchange
END
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