Director/PDMR Shareholding

RNS Number : 9506C

Smart Metering Systems PLC

14 October 2022

 

Smart Metering Systems plc

("SMS" or "the Company")

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY/PERSONS CLOSELY ASSOCIATED

As required by Article 19 Of Regulation (EU) No. 596/2014 on market abuse, Smart Metering Systems plc (AIM: SMS) announces that on 13 October 2022 certain Directors dealt in Ordinary Shares of one penny each ("Ordinary Shares") and that pursuant to Board approval it has, on 13 October 2022, granted the options detailed below over ordinary shares of 1 pence each in the Company to Tim Mortlock, CEO under the Smart Metering Systems Long Term Incentive Plan established on 19 May 2022 (the "Options"):-

Name	Date of Transaction(s)	Number of shares	Price
Tim Mortlock	13/10/2022	1.  Purchase of 14,058 Shares 2.  Acceptance of 90,733 Options	711.39p Nil
Miriam Greenwood	13/10/2022	Purchase of 3570 Shares	702p
Gavin Urwin	13/10/2022	Purchase of 2153 Shares	6 95.5p
Ruth Leak	13/10/2022	Purchase of 2825 Shares	707.69p

Following these transactions (i) Miriam Greenwood has an interest in 29 ,031 Ordinary Shares, representing 0.021% of the issued share capital of the Company (ii) Tim Mortlock has an interest in 35,260 Ordinary Shares, representing 0.026 % of the issued share capital of the Company (iii) Gavin Urwin has an interest in 4,375 Ordinary Shares, representing 0.003 % of the issued share capital of the Company and (iv) Ruth Leak has an interest in 2825 Ordinary Shares, representing 0.002% of the issued share capital of the Company.

The vesting and exercise of the Options is subject to satisfaction of certain performance conditions relating to the Company's financial performance, total shareholder return and ESG criteria during the three-year period up until 31 December 2024. The Options will become exercisable in tranches between 2025 and 2027.

The notification below provides further detail.

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	Tim Mortlock
2	Reason for notification
a)	Position/Status	PDMR - Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Smart Metering Systems plc
b)	LEI	213800FGOUFSDPE33S71
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	1.  14058 Ordinary Shares of 1 pence 2.  Options under the Smart Metering Systems L ong Term Incentive Plan, subject to performance conditions measured over the period 1 January 2022 - 31 December 2024 and focused on f inancial performance, total shareholder return and ESG criteria during the three-year period up until 31 December 2024. SMS
b)	Nature of the transaction	1.  Purchase 2.  Award of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 1. 711.39p 14,058 2. Nil 90,733
d)	Aggregated information -  Aggregated volume -  Price	n/a
e)	Date of the transaction	13 October 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Miriam Greenwood
2	Reason for notification
a)	Position/Status	PDMR -Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Smart Metering Systems plc
b)	LEI	213800FGOUFSDPE33S71
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	ordinary shares of 1 pence SMS
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 702p 3570
d)	Aggregated information -  Aggregated volume -  Price	n/a
e)	Date of the transaction	13 October 2022
f)	Place of the transaction	London Stock Exchange, AIM
1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Gavin Urwin
2	Reason for notification
a)	Position/Status	PDMR -Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Smart Metering Systems plc
b)	LEI	213800FGOUFSDPE33S71
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	ordinary shares of 1 pence SMS
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 695.5p 2153
d)	Aggregated information -  Aggregated volume -  Price	n/a
e)	Date of the transaction	13 October 2022
f)	Place of the transaction	London Stock Exchange, AIM
1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Ruth Leak
2	Reason for notification
a)	Position/Status	PDMR -Director
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Smart Metering Systems plc
b)	LEI	213800FGOUFSDPE33S71
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	ordinary shares of 1 pence SMS
b)	Nature of the transaction	Purchase of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 707.69p 2825
d)	Aggregated information -  Aggregated volume -  Price	n/a
e)	Date of the transaction	13 October 2022
f)	Place of the transaction	London Stock Exchange, AIM

For further information:

Smart Metering Systems plc	0141 249 3850
Craig McGinn, Company Secretary
Cenkos Securities plc (Nomad and Joint Broker)	0131 220 6939 / 020 7397 8900
Neil McDonald / Pete Lynch
Investec Bank plc (Joint Broker)	020 7597 5970
Christopher Baird / Henry Reast
RBC Capital Markets (Joint Broker)	020 7653 4000
Matthew Coakes / Evgeni Jordanov

Instinctif Partners (PR Adviser)	020 7457 2020
Tim Linacre / Guy Scarborough / Sarah Hourahane	[e-mail]

Notes to Editors

Smart Metering Systems plc (www.sms-plc.com) installs and manages smart meters, energy data, grid scale batteries and other carbon reduction assets ("CaRe") to facilitate effective energy management. The Group manages and optimises these assets through its in-house technology and data analytical platform.

Established in 1995, SMS provides a full end-to-end service, from funding and installation to management and maintenance, with a highly skilled workforce, deep engineering expertise and well-established industrial partnerships.

SMS is leading the low carbon, smart energy revolution in the UK and is committed to reducing its own carbon emissions to net zero by 2030. In 2019, SMS was also awarded the London Stock Exchange Green Economy Mark.

SMS plc is headquartered in Glasgow with a national presence across twelve UK locations.

SMS's shares are listed on AIM.

 

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