Issue of Equity and Options, TVR & Board Change

RNS Number : 6988O

Aquila Services Group PLC

31 January 2019

 

For immediate release

31 January 2019

Aquila Services Group plc

("Aquila", the "Company" or together with its subsidiaries, the "Group")

Exercise of Options, Total Voting Rights, Issue of Unapproved Share Options, Director / PDMR Shareholding and Board Change

Exercise of Options and Total Voting Rights

Aquila, a company formed to acquire and operate growing businesses operating in the affordable housing services sector, announces that the Company has received notice from an employee to exercise an option to subscribe for 42,315 ordinary shares at a price of £0.05 per ordinary share.  The notice was accepted as valid and having received funds of £2,115.75, the Company has accordingly issued and allotted 42,315 new ordinary shares (the "Option Shares").

Applications have been made to the UK Listing Authority and the London Stock Exchange for the Option Shares to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities (the "Admission").  It is expected that Admission will become effective on 1 February 2019.

Following the issue of the Option Shares, which on Admission will rank pari passu with the existing ordinary shares, the total number of ordinary shares in issue with voting rights in the Company will be 35,307,776.  There are no shares held in treasury.

The above figure of 35,307,776 may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Issue of Unapproved Share Options and Director / PDMR Shareholding

In addition, the Company announced that in line with the Company's Long-Term Incentive Plan, Steve Douglas and Dr Fiona Underwood, both Joint Chief Executives of the Company, have each been granted 50,000 unapproved share options ("Share Options"), in recognition of their services.  This grant forms part of the Company's reward and remuneration strategy which is to ensure that Aquila attracts, retains and motivates highly skilled personnel contributing to the growth and success of the Group.

The Share Options, for each individual, have been granted to the value of £16,000 based on the closing mid-market price on 29th January 2019 of 32p and they will be exercisable on 30th January 2022 at an exercise price of 5p per ordinary share.

Following these grants, the Company has a total of 5,438,533 ordinary shares under option representing 15.4% of the issued ordinary share capital as enlarged following the issue and allotment of the Option Shares.

Board Change

Jeff Zitron, Non-Executive Director, has informed the Board of his intention to step down from the Board of the Company as at 30th January 2019 due to other commitments.  As previous Chair of the company, the board would like to thank him for his contribution during the start-up and growth of Aquila.

The information contained in Appendix 1 below is disclosed in accordance with Article 19 of the EU Market Abuse Regulation.

For further information please visit www.aquilaservicesgroup.co.uk. or contact:

Aquila Services Group plc

Steve Douglas

Co-Chief Executive

Tel: [phone]

Beaumont Cornish Limited, Financial Adviser

Roland Cornish

Tel: [phone]

Appendix 1

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steven Douglas
2	Reason for notification
a)	Position / status	Joint Chief Executive
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aquila Services Group plc
b)	LEI	213800YHTDDQX5MZZW83
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	Options under Aquila's Long Term Incentive Plan ISIN GB00BPYP3Q26
	Nature of the transaction
	Price(s) and volumes(s)	Price(s) Volumes(s) 5p 50,000
d)	Aggregated information	n/a
e)	Date of the transaction	2019 January 30
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dr Fiona Underwood
2	Reason for notification
a)	Position / status	Joint Chief Executive
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Aquila Services Group plc
b)	LEI	213800YHTDDQX5MZZW83
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	Options under Aquila's Long Term Incentive Plan ISIN GB00BPYP3Q26
	Nature of the transaction
	Price(s) and volumes(s)	Price(s) Volumes(s) 5p 50,000
d)	Aggregated information	n/a
e)	Date of the transaction	2019 January 30
f)	Place of the transaction	Outside a trading venue

 

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