Business
Issue of shares to the Employees Benefit Trust
Issue of shares to the Employees Benefit Trust.
About this update from Flowtech Fluidpower Plc
[{"type":"text","content":"\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n \nIMMEDIATE RELEASE\nTuesday, 18 June 2024\n \n \n \nFlowtech Fluidpower plc\n(\"the Company\")\n \nIssue of shares to the Employees Benefit Trust\nand\nTotal Voting Rights\n \nThe Board has approved the issue and allotment of 400,000 ordinary shares in the Company (the \"Allotment Shares\") for nominal value of 50 pence per share, to Apex Financial Services (Trust Company) Ltd (the \"Trustee\"), acting in its capacity as trustee of the Flowtech Fluidpower Employee Benefit Trust (the \"EBT\"). The EBT is an employees' share scheme within the meaning of section 1166 of the Companies Act 2006; its purpose is to hold Ordinary Shares for the benefit of the Company's employees so that the Trustee can, in accordance with the terms of the EBT, use the Allotment Shares to satisfy the exercise of options and awards for the beneficiaries of the EBT under the Company's share incentive schemes.\n \nFollowing the above transaction, the EBT holds 400,000 Ordinary Shares, representing approximately 0.6% of the Company's issued share capital.\n \nApplication will be made to the London Stock Exchange for admission to trading of the Allotment Shares on AIM (the \"Admission\"). Admission is expected to take place at 8.00 a.m. on 24 June 2024.\n \nTotal Voting Rights\nFollowing the above transaction, the total number of voting rights in the Company will be 63,275,173. The Company holds no shares in treasury. Shareholders may use this figure 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.\n \n \n \n \n\n\n\n\nEnquiries\nFlowtech Fluidpower plc\nRussell Cash, Chief Financial Officer & Company Secretary\nTel: +44 (0) 1695 577780\nEmail: [email protected]\n\n\n\n\n\n\n\n\n\nTo read more about the Group please visit: www.flowtechfluidpower.com.\n \n\n\n\n\nLiberum (Nominated adviser and Sole Broker)\nRichard Lindley / Will King\nTel: +44 (0) 20 3100 2000\n\n\n\n\n \n\n\n\n\nTooleyStreet Communications (IR and media relations)\nFiona Tooley\nTel: +44 (0) 7785 703523\nor email: [email protected]\n\n\n\n\n \n\n","length":6764,"tagName":"div"}]