Results of General Meeting

RNS Number : 9209Z

Smart Metering Systems PLC

20 December 2017

 

For Immediate Release                                                                                        

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.  PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

20 December 2017

Smart Metering Systems plc

Results of General Meeting

Smart Metering Systems plc (AIM: SMS.L) ("SMS" or the "Company") is pleased to announce that all resolutions put to shareholders at the General Meeting of the Company held earlier today were duly passed. 

As a result, the Company will issue 21,739,131 new ordinary shares of 1p each (the "Placing Shares"). The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares. 

Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that trading will commence at 8.00 a.m. on 22 December 2017. 

Capitalised terms not otherwise defined in the text of this Announcement have the meanings given in the Company's announcement regarding the proposed Placing released on 24 November 2017.

Alan Foy, CEO of SMS commented: "This successful placing, raising gross proceeds of £150 million for the Company, will assist with the financing of our plans to continue with the domestic smart metering rollout programme across the UK. We have broadened the institutional shareholder base of the Company and I would like to welcome new shareholders and thank existing shareholders for their support. We look forward to updating all shareholders on the Company's performance at the time of our final results, to be announced in March 2018."

For further information, please contact:

Smart Metering Systems plc	[phone]
Alan Foy, CEO David Thompson, CFO Craig McGinn, Company Secretary
Cenkos Securities PLC	[phone] / [phone]
Nominated Adviser, Broker and Joint Bookrunner
Iain Macarthur / Neil McDonald
Barclays Bank PLC	[phone]
Joint Bookrunner
Neal West / Eddie Siow / Phil Drake
Macquarie Capital (Europe) Limited	[phone]
Joint Bookrunner
Ben Bailey / Alex Reynolds / Nick Stamp
Rothschild:	[phone]
Financial Adviser
Emmet Walsh / Peter Nicklin / Jonathan Finn / Yuri Shakhmin
Kreab	[phone]
Matthew Jervois / Daniel Holgersson

About Smart Metering Systems plc

With its business established in 1995, Smart Metering Systems plc, headquartered in Glasgow, connects, owns and operates gas and electricity meters on behalf of major energy companies. The Company's full end to end energy management services and consultancy business support large blue chip companies in the UK, through a network of offices in Bolton, Cambridge, Cardiff, Doncaster, Livingston, Normanton and Rugby.

The Company's services also include infrastructure design, installation, consultancy and project management services for new gas, electricity, water and telecoms connections for licenced energy and telecoms suppliers, end consumers and the UK's licenced electricity Distribution Network Owners (DNO's).

The Company was admitted to the AIM market in July 2011 and is now part of the FTSE AIM 50 index.

For more information on SMS please visit the Company's website: www.sms-plc.com.

IMPORTANT NOTICES

This Announcement and the information contained in it is restricted and is not for publication, release or distribution, in whole or in part, directly or indirectly, in, into or from the United States, Australia, Canada, South Africa or Japan or any other state or jurisdiction in which publication, release or distribution would be unlawful, restricted or unauthorised (each a "Restricted Territory"). This Announcement is for information purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy, acquire or subscribe for shares in the capital of the Company in any Restricted Territory or any other state or jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. The securities referred to in this Anouncement have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold, taken up, resold, transferred or delivered, directly or indirectly, in, into or within the United States except pursuant to registration under the Securities Act or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States.

 

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