Director/PDMR Shareholding

RNS Number : 0887T

Smart Metering Systems PLC

15 March 2023

 

Smart Metering Systems plc

("SMS" or "the Company")

Grant of Options and PDMR Dealing

As required by Article 19 Of Regulation (EU) No. 596/2014 on market abuse, Smart Metering Systems plc (AIM: SMS.L) announces that pursuant to a Board approval it has, on 14 March 2023, granted the following options over ordinary shares of 1 pence each in the Company ("Ordinary Shares") to certain directors and PDMRs under the Smart Metering Systems Long Term Incentive Plan established on 19 May 2022 (the "Options"):

Name	Position	Number of L TIP Options	Exercise Price
Tim Mortlock	Executive Director	93,635	Nil
Gail Blain	Executive Director	55,351	Nil
Craig McGinn	PDMR	17,713	Nil

The vesting of the Options is subject to the Board resolving that certain performance conditions relating to the Company's financial performance, total shareholder return and ESG criteria have been satisfied during the three-year period up until 31 December 2025. The Options will become exercisable in tranches between 2026 and 2028.

The notifications below provide 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	Options under the Smart Metering Systems L ong Term Incentive Plan, subject to performance conditions measured over the period 1 January 2023 - 31 December 2025 and focused on f inancial performance, total shareholder return and ESG criteria during the three-year period up until 31 December 2025. SMS
b)	Nature of the transaction	Award of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 93,635
d)	Aggregated information -       Aggregated volume -       Price	N/A
e)	Date of the transaction	14 March 2023
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Gail Blain
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	Options under the Smart Metering Systems L ong Term Incentive Plan, subject to performance conditions measured over the period 1 January 2023 - 31 December 2025 and focused on f inancial performance, total shareholder return and ESG criteria during the three-year period up until 31 December 2025. SMS
b)	Nature of the transaction	Award of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 55,351
d)	Aggregated information -       Aggregated volume -       Price	N/A
e)	Date of the transaction	14 March 2023
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Craig McGinn
2	Reason for notification
a)	Position/Status	PDMR
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	Options under the Smart Metering Systems L ong Term Incentive Plan, subject to performance conditions measured over the period 1 January 2023 - 31 December 2025 and focused on f inancial performance, total shareholder return and ESG criteria during the three-year period up until 31 December 2025. SMS
b)	Nature of the transaction	Award of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 17,713
d)	Aggregated information -       Aggregated volume -       Price	N/A
e)	Date of the transaction	14 March 2023
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 battery storage and other carbon reduction ("CaRe") assets 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. Since 2019, SMS has been awarded the London Stock Exchange Green Economy Mark every year.

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

SMS shares are quoted on AIM.

 

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