7th Dec 2015 16:11
7 December 2015
Hydrodec Group plc
("Hydrodec" or the "Company")
Director's dealing in securities
The Company received notification today that Lord Moynihan, Non-Executive Chairman, acquired 370,583 ordinary shares in the Company ("Shares") at a price of 4.25p per Share between 4 and 7 December 2015. Following the purchase, Lord Moynihan is interested in 10,578,487 Shares (representing approximately 1.4 per cent of the issued voting Shares).
For further information please contact:
Hydrodec Group plc |
| 020 3300 1643 | |||||||||||||||
James Hodges, General Counsel and Company Secretary
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Canaccord Genuity (Nominated Adviser and Broker) |
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| 020 7523 8000 | |||||||||||||||
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Vigo Communications (PR adviser to Hydrodec) |
| 020 7016 9570 | |||||||||||||||
Patrick d'Ancona Chris McMahon |
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Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry. Spent oil is currently processed at two commercial plants with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs, a toxic additive banned under international regulations. Hydrodec's plants are located at Canton, Ohio, US and Young, New South Wales, Australia. In 2013, Hydrodec acquired the business and assets of OSS Group, the UK's largest collector, consolidator and processor of used lubricant oil and seller of processed fuel oil, with a national network of oil storage and transfer stations. Used oil is converted into processed fuel oil at OSS's plant at Stourport and principally sold on to the UK quarry and power industry. In April 2015, Hydrodec further acquired the business and assets of Eco Oil, a leading UK waste oil collector and supplier of recycled industrial fuel oil into the power and road stone industries. It is also one of four significant providers of waste management services to the marine industry in the UK, specifically oily-water slops or marine pollutant (MARPOL). In line with our stated intention to develop a base oil re-refinery in the UK, we have an exclusive licence agreement with California-based Chemical Engineering Partners (CEP) to develop the CEP wiped-film evaporation and hydrogenation technology in the UK as well as the basic engineering for a 75 million litre per annum capacity base oil re-refinery.
Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.
Related Shares:
HYR.L