Flowtech Fluidpower PLC has approved the issue and allotment of 400,000 ordinary shares to the Apex Financial Services (Trust Company) Ltd, acting as trustee of the Flowtech Fluidpower Employee Benefit Trust (EBT). The purpose of the EBT is to hold Ordinary Shares for the benefit of the Company's employees, allowing the Trustee to 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. This transaction results in the EBT holding 400,000 Ordinary Shares, representing approximately 0.6% of the Company's issued share capital.
The Company will apply for admission to trading of the Allotment Shares on AIM, with the admission expected to take place at 8.00 a.m. on 24 June 2024. Following this transaction, the total number of voting rights in the Company will be 63,275,173, with the Company holding no shares in treasury. Shareholders can use this figure as the denominator for the calculations to 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.
For further information, individuals can contact Russell Cash, Chief Financial Officer & Company Secretary at Flowtech Fluidpower plc. The Nominated adviser and Sole Broker for the company is Liberum, and TooleyStreet Communications handles IR and media relations. The Group's website is available for additional information.