SMS Plc Issue of Equity

RNS Number : 5584M

Smart Metering Systems PLC

07 May 2015

 

Smart Metering Systems plc

("SMS" or "the Company")

 Issue of Equity

Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, confirms that it has issued a total of 261,872 ordinary shares of 1p each ("New Ordinary Shares") pursuant to the exercise of employee share options under the Approved and Unapproved Company Share Option Plan. A total of 84,897 New Ordinary Shares have been admitted to trading on AIM under the block listing facility announced on 6 August 2014 and application has been made for the remaining 176,975 New Ordinary Shares to be admitted to trading on AIM with effect from 13 May 2015.

Following the issue of the New Ordinary Shares, the Company has 86,037,324 Ordinary Shares in issue. SMS does not currently hold any shares in treasury. Accordingly, this figure of 86,037,324 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information:

Smart Metering Systems plc Alan Foy, Chief Executive Officer Glen Murray, Finance Director	0141 249 3850
Cenkos Securities Neil McDonald Nick Tulloch	0131 220 6939 / 0207 397 8900
Kreab Natalie Biasin Matthew Jervois	020 7074 1800

Notes to Editors

About Smart Metering Systems

Established in 1995, Smart Metering Systems plc, based in Glasgow, connects, owns, operates and maintains metering systems and databases on behalf of major energy companies.

Currently the Company is concentrating its efforts on offering its unique integrated services to the UK industrial and commercial gas market in which its customers have an 80% market share.

The Company has further applications for gas with its ADM™ device which allows "smart" functions such as remote reading and half-hourly consumption data to be offered to customers in addition to the normal metering services.

SMS expanded its services into the electricity market through the acquisition of Utility Partnership Limited in April 2014. The Company can now provide a fully integrated service from beginning to end to cover the installation of a gas/electricity supply/connection to the procurement, installation and management of a gas or electricity meter asset to the collection and management of customer data and ongoing energy management services. Longer term the Company also has additional applications for water and LPG.

Following its listing, the Company is now part of the FTSE AIM 50 index. For more information on SMS please visit the Company's website: www.sms-plc.com.

 

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