Grant of Options and PDMR Dealing

RNS Number : 8319O

Smart Metering Systems PLC

11 February 2021

 

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 10 February 2021, granted the following options over ordinary shares of 1 pence each in the Company to certain directors and PDMRs under the Smart Metering Systems Unapproved Share Option Plan established on 20 June 2011 (the "Options"):

Executive Director	Number of Options	Exercise Price
Alan Foy	300,000	705.4p
Tim Mortlock	250,000	705.4p

PDMR	Number of Options	Exercise Price
Craig McGinn	150,000	705.4p

The vesting and exercise of the Options is subject to satisfaction of certain performance conditions relating to the Company's market capitalisation, personal objectives and health and safety criteria during the five year period up until 31 December 2025

SMS additionally announces that it has received notification that on 10 February 2021, Metis Investments Limited, a person closely associated with Alan Foy, Chief Executive Officer of the Company and of which he is a Director and shareholder, transferred 4,680,851 ordinary shares of 1p each in the Company ("Ordinary Shares") to Alan Foy, at a price of £7.05 per Ordinary Share.

Following this transaction, Alan Foy (together with persons closely associated with him) has an unchanged interest in 5,953,201 Ordinary Shares, representing 5.27% of the issued share capital of the Company.

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	Alan Foy
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 Unapproved Share Option Plan, subject to performance conditions measured over the period 1 January 2021 - 31 December 2025 and focused on market capitalisation of the company, personal objectives and health and safety criteria. SMS
b)	Nature of the transaction	Award of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 705.4p 300,000
d)	Aggregated information -  Aggregated volume -  Price	N/A Single Transaction
e)	Date of the transaction	10 February 2021
f)	Place of the transaction	London Stock Exchange, AIM

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 Unapproved Share Option Plan, subject to performance conditions measured over the period 1 January 2021 - 31 December 2025 and focused on market capitalisation of the company, personal objectives and health and safety criteria. SMS
b)	Nature of the transaction	Award of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 705.4p 250,000
d)	Aggregated information -  Aggregated volume -  Price	N/A Single Transaction
e)	Date of the transaction	10 February 2021
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 Unapproved Share Option Plan, subject to performance conditions measured over the period 1 January 2021 - 31 December 2025 and focused on market capitalisation of the company, personal objectives and health and safety criteria. SMS
b)	Nature of the transaction	Award of Share Options
c)	Price(s) and volume(s)	Price(s) Volume(s) 705.4p 150,000
d)	Aggregated information -  Aggregated volume -  Price	N/A Single Transaction
e)	Date of the transaction	10 February 2021
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	(a)  Alan Foy (as Purchaser); (b)  Metis Investments Limited, declared as being a person closely associated with Alan Foy, who is a Director and shareholder of the Company (being a person discharging managerial responsibility) and Director and shareholder of Metis Investments Limited (as seller).
2	Reason for notification
a)	Position/Status	(a)  Alan Foy, Director (b)  Metis Investments Limited, declared as being a person closely associated with Alan Foy, who is a Director and shareholder of the Company (being a person discharging managerial responsibility) and Director and shareholder of Metis Investments Limited.
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	4,680,851 ordinary shares of 1 pence each AIM: SMS
b)	Nature of the transaction	Sale by a Director of shares to an entity declared as closely associated with that Director
c)	Price(s) and volume(s)	Price(s) Volume(s) 705p 4,680,851
d)	Aggregated information -  Aggregated volume -  Price	4,680,851 ordinary shares at 705pence
e)	Date of the transaction	10 February 2021
f)	Place of the transaction	London Stock Exchange, AIM

For further information:

Smart Metering Systems plc	0141 249 3850
Alan Foy, Chief Executive Officer
Dilip Kejriwal, Head of Investor Relations
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
Kay Larsen / Chantal Woolcock	[e-mail]

Notes to Editors

SMS plc (www.sms-plc.com) installs and manages smart meters, data and 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. As at 30 June 2020 SMS had 3.74 million meter and data assets under management.

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 smart energy revolution and the assets deployed remain at the heart of delivering and accelerating the UK government's net zero carbon ambition. In 2019, SMS was 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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