| NEWS RELEASE
Issued on behalf of Flowtech Fluidpower plc Immediate Release Thursday, 1 February 2024 |
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Flowtech Fluidpower plc
("Flowtech," the "Group" or "the Company")
Our aim is to provide our customers with power, motion & control solutions, from a single component to integrated engineering systems, in the most cost-effective way, harnessing the best global brands & products, services and engineers in the market.
PDMR - Director Dealings
Flowtech Fluidpower plc has been notified of the following purchases of ordinary shares in the Company by PDMRs on 31 January 2024:
| | Ordinary Shares Purchased | Resultant Number of Ordinary Shares | Resultant Percentage Holding in the Company |
| Roger McDowell, Non-executive Chair | 32,000 | 1,082,000 | 1.76% |
| Jamie Brooke, Non-executive Director | 30,000 | 240,000* | 0.39%* |
*Note: resultant holding shown is for Jamie Brooke and his PCA, Annabel Brooke.
The notifications below are 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 | Roger McDowell | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Chairman / 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 | |||
| 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 | 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) | |
| | | 80.75p | 32,000 | | |
| d)
| Aggregated information | N/A | |||
| - Aggregated volume | | ||||
| - Weighted average price | | ||||
| e) | Date of the transaction | 31 January 2024 | |||
| f) | Place of the transaction | XLON | |||
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 | Jamie Brooke | |||
| 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 | |||
| 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 | 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) | |
| | | 79.9547p | 6,000 | | |
| | | 80.00p | 8,000 | | |
| | | 80.5p | 10,000 | | |
| | | | 81.0p | 6,000 | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 30,000 | ||||
| - Weighted average price | 80.3576p | ||||
| e) | Date of the transaction | 31 January 2024 | |||
| f) | Place of the transaction | XLON | |||
| Enquiries: |
| Flowtech Fluidpower plc Russell Cash, Chief Financial Officer & Company Secretary 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 |
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Founded as Flowtech in 1983, we provide customers with power, motion & control solutions, from a single component to integrated engineering systems, in the most cost-effective way, harnessing the best global brands & products, services and engineers in the market. We operate across three regions in Great Britain, Island of Ireland, and The Benelux as well as serving customers around the world. Flowtech joined the AIM market in 2014. To read more about the Group please visit: www.flowtechfluidpower.com.
OUR PURPOSE | To provide power and motion solutions, keeping industry moving and creating a more sustainable world. OUR VISION | To be the trusted adviser and solutions partner in a world of motion.
The value we create for our customers Flowtech works across all industry sectors serving the needs of customers who are designing, building, maintaining and improving industrial plant, equipment and operations.
We add value by being a technical specialist and trusted adviser to Maintenance, Repair & Operations (MRO) customers, Original Equipment Manufacturers (OEMs) and through our long-standing Distributor Partner channels. We provide essential technical products combined with a broad range of specialist engineering services across the world of Power, Motion & Control.
Easy access to the widest Technical Product range We stock over 75,000 Power, Motion & Control products including hydraulic and pneumatic consumables and trade through our channels including E-commerce Websites, Central Sales, Technical and Customer Support teams and through our localised Engineering Centres across GB, Ireland and Benelux. We partner and distribute for the world's largest power, motion and control brands and have access to over 0.5 million technical products through over 2,000 leading suppliers. We provide a market leading quality own brand offering complementing our branded supplier portfolio.
Market Leading Distributor Partner Programme We operate a leading Distributor Partners Programme supplying our wide range of Products and Engineering Services through our strategic network of Distributors and Service Providers giving them the support they need to service their end-customers. This is enabled by our tried and tested white label catalogue, E-commerce and fulfilment business model.
Engineered Systems and Solutions We supply specialist technical Power, Motion & Control components & systems with our core being centred around pneumatics and hydraulic industrial and mobile applications. This includes bespoke design, manufacturing, commissioning, installation, and servicing of systems to manufacturers of specialised industrial and mobile OEMs, and additionally a wide range of industrial end users. From a simple technical system build such as a Hydraulic Power Pack to the repair of pumps, values and cylinders through to site-based diagnostics and services to fully integrated turn-key solutions, we have a strong engineering pedigree at our core making us the trusted adviser and solutions partner for our customers.
For more information please visit: Our business | Flowtech Fluidpower plc. |
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