Issue of Equity
Updated : 15:44
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
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Name | Number of new Ordinary Shares issued | Number of Ordinary Shares | % Enlarged issued share capital |
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Martin Perry | 545,408 | 3,889,821 | 5.77% |
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David Steel | 450,523 | 1,451,741 | 2.15% |
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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
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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 instrument, type of instrument Identification code | Ordinary Shares of 1 pence each
GB00B41Q8Q68 | ||||
b) | Nature of the transaction | Issue of shares in compensation for cash remuneration | ||||
c) | Price(s) and volume(s)
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d) | Aggregated information | Not applicable - single transaction | ||||
e) | Date of the transaction | 16 July 2020 | ||||
f) | Place of the transaction | Outside a trading venue |
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