| NEWS RELEASE Issued on behalf of Flowtech Fluidpower plc Immediate Release Monday, 15 May 2023 |
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FLOWTECH FLUIDPOWER PLC
("Flowtech" or the "Company")
Specialist full-service supplier of technical fluid power products and services
PDMR: Director dealing
Flowtech Fluidpower plc has been notified that Stuart Watson, Non-Executive Director, purchased a total of 8,965 ordinary shares in the Company on 12 May 2023 at an average price of 111.4 pence per ordinary share. Following the transaction, Mr. Watson is interested in an aggregate of 8,965 ordinary shares representing 0.01% of the Company's issued ordinary share capital.
The notification below is made in accordance with the requirements of the EU Market Abuse Regulation.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Stuart Watson | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Non-Executive Director / PDMR | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Flowtech Fluidpower plc | |||
| b) | LEI | 213800N68SQY5X5XS290 | |||
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| 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 | Ordinary shares of 50 pence each ("Ordinary Shares") | |||
| Identification code | ISIN: GB00BM4NR742 | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | 111.4 pence | 8,965 | | |
| | | | | | |
| d)
| Aggregated information | N/A | |||
| - Aggregated volume | | ||||
| - Weighted average price | | ||||
| e) | Date of the transaction | 12 May 2023 | |||
| f) | Place of the transaction | XLON | |||
| ENQUIRIES: | ||
| Flowtech Fluidpower plc Roger McDowell, Non-Executive Chair Mike England, Chief Executive Officer Russell Cash, Chief Financial Officer Tel: +44 (0) 1695 52759 Email: info@flowtechfluidpower.com | ||
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| Liberum (Nominated adviser and Sole Broker) Richard Lindley / Ben Cryer / Will King Tel: +44 (0) 20 3100 2000 | ||
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| TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com | ||
| ABOUT FLOWTECH FLUIDPOWER PLC Founded as Flowtech in 1983, the Flowtech Fluidpower Group is a group of specialist fluid power businesses. Working in partnership with customers and suppliers, we deliver essential components, customer solutions and high-quality servicing support to keep global industry moving. The business joined the AIM market in 2014.
To read more about the Group please visit www.flowtechfluidpower.com. | ||
| Segment: | What we do: | Locations: |
| Flowtech |
Our focus Supply of both hydraulic and pneumatic consumables, predominantly through distribution for maintenance and repair operations across all industry markets but supported by supply agreements direct to a broad range of original equipment manufacturers (OEMs)
Channels to market: E-commerce websites, customer white label e-commerce websites, 70,000+catalogues, own and customer trade counters
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Flowtech (Skelmersdale, Leicester, Birmingham) Flowtechnology Benelux (Deventer)
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| Fluidpower Group Solutions |
Our focus Supply specialist technical hydraulic components & systems, predominantly into OEMs and end-user channels to all industry markets, supported by supply agreements with a broad range of manufacturer brands
Channels to market: Engineering collaboration through sales offices providing national and local coverage. In 2022 enhanced by new e-commerce capabilities
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Primary Fluid Power Components (Skelmersdale) Nelson Hi-Power (Dublin, Cork, Dungannon) HTL (Ludlow) Hydroflex (Brussels, Rotterdam and OudBeijerland) Derek Lane & Co (Newton Abbot) HES Tractec (Gloucester)
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| Fluidpower Group Services
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Our focus Bespoke design, manufacturing, commissioning, installation, and servicing of systems to manufacturers of specialised industrial and mobile hydraulic OEMs, and additionally a wide range of industrial end users. Capital project-based revenue.
Channels to market: In-house design and build, combined with on-site installation, servicing and support
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Primary Fluid Power Systems (Knowsley) Branch Hydraulic Systems (Gloucester) HES Onsite (Leeds, Gloucester) Orange County (Spennymoor) Hi Power Transport (Dublin, Cork, Belfast)
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All the Group's divisions have overlapping product sets, allowing procurement synergies to be maximised. The above segments are supported by a centralised back-office teams based at Skelmersdale and Wilmslow sites in the UK. In total, the business employs 572 people.
For more information please visit, Our business | Flowtech Fluidpower plc | ||
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