Enteq Upstream plc
("Enteq" or the "Company")
Issue of shares
and
Director/PDMR Shareholding
Enteq, the energy drilling technology company, announces that on 14 July 2021 it issued and allotted 1,012,366 new ordinary shares of 1p each ("Ordinary Shares") to the Directors in compensation for remuneration due.
Of these new Ordinary Shares 471,550 were issued in compensation for the elements of remuneration foregone in respect of the period 1 April 2020 to 31 March 2021 at a price of 14.3p and 1 December 2020 to 30 June 2021 at a price of 16.5p per new Ordinary Share. These issue prices reflect the Company's average share price during the periods to which the compensation relates. As with previous issues of this type this was in order to maximise the cash available to the business as a whole. In addition, 540,816 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, with certain 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
| Name | Number of new Ordinary Shares issued | Number of Ordinary Shares | % Enlarged issued share capital |
| | | | |
| Martin Perry | 561,750 | 4,524,454 | 6.57% |
| David Steel | 304,895 | 1,985,261 | 2.88% |
| Andrew Law | 105,463 | 883,497 | 1.28% |
| Iain Paterson | 21,169 | 557,048 | 0.81% |
| Neil Hartley | 19,089 | 46,170 | 0.07% |
Application has been made for the 1,012,366 new Ordinary Shares to be admitted to trading on AIM which is expected to occur on 19 July 2021. Following the above issue of new Ordinary Shares, the number of Ordinary Shares (each carrying one vote) in issue is 68,847,064. There are no shares held in treasury. The figure of 68,847,064 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 Guidance and Transparency Rules.
For further information, please contact:
Enteq Upstream plc +44 (0) 20 8087 2202
Andrew Law, Chief Executive Officer
David Steel, Chief Financial Officer
finnCap Ltd (NOMAD and Broker) +44 (0) 20 7220 0500
Ed Frisby, Emily Watts, Tim Harper (Corporate Finance)
Andrew Burdis, Barney Hayward (ECM)
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | 1. Martin Perry 2. David Steel 3. Andrew Law 4. Iain Paterson 5. Neil Hartley | ||||
2. | Reason for the notification | |||||
| a) | Position/status | 1. Chairman 2. Chief Financial Officer 3. Chief Executive Officer 4. Non-executive Director 5. Non-executive 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 | 2138006BKS2MOAPRUB75 | ||||
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)
|
| ||||
| d) | Aggregated information | Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 July 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
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