First Day of Dealings on AIM

About this update from Chesterfield Special Cylinders Holdings Plc

[{"type":"text","content":"\n Pressure Technologies PLC\n06 June 2007\n\nNOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA OR THE\nREPUBLIC OF SOUTH AFRICA\n\n Pressure Technologies plc\n (the 'Group')\n\n FIRST DAY OF DEALINGS ON AIM\n\n\nPressure Technologies plc (AIM: PRES) is pleased to announce its flotation on\nAIM today.\n\nPressure Technologies plc is the holding company for Chesterfield Special\nCylinders Limited ('CSC'). CSC designs, manufactures and offers testing and\nrefurbishment services for a range of speciality high pressure, seamless steel\ngas cylinders for global energy and defence markets. The Group employs 48 staff\nfrom its 4.4 acre site in Sheffield.\n\nAt the issue price of 150 pence, £6 million before expenses has been raised on\nbehalf of the Group via an oversubscribed placing. The proceeds of the placing\nwill be used to fund the growth of the business organically and by acquisitions,\npay off part of the existing debt and for working capital.\n\nOn admission to AIM, the market capitalisation of Pressure Technologies plc at\nthe issue price is £17 million.\n\nBrewin Dolphin Securities is acting as Nominated Adviser and Broker to the\nGroup.\n\n\nPlacing Statistics\n\nIssue price 150p\nNumber of new shares placed on behalf of the Group 4,000,000\nNumber of old shares placed on behalf of selling shareholders 2,430,198\n\nNumber of ordinary shares in issue upon admission 11,333,620\nPercentage of enlarged share capital placed 56.7%\n\n\n\nFor further information, please contact:\n\nPressure Technologies plc 0114 242 7500\nJohn Hayward\nJonathan Clark\n\nBrewin Dolphin Securities 0113 241 0130\nNeil Baldwin\nSean Wyndham-Quin\n\n\nBrewin Dolphin Securities Limited, a member of the London Stock Exchange,\nauthorised and regulated by the Financial Services Authority, is acting for the\nCompany only and will not be responsible to any other persons for providing the\nprotections afforded to clients of Brewin Dolphin Securities Limited or for\nadvising such person on the matters referred to in this announcement. Brewin\nDolphin Securities Limited has not approved the contents of, or any part of,\nthis announcement.\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2823,"tagName":"div"}]

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