8 August 2024
Eneraqua Technologies
plc
("Eneraqua" or the "Company" or the "Group")
Notification and public
disclosure of transactions by PDMR
Grant of LTIP
Awards
Eneraqua Technologies plc, a
specialist provider of energy and water efficiency solutions,
announces that with effect from today, the following awards over
ordinary shares of 1 pence each ("Ordinary Shares") in the Company have
been granted under the Eneraqua Technologies plc Long Term
Incentive Plan ("LTIP") to
the following person(s) discharging managerial
responsibilities:
|
Participant
|
Position
|
No. of
Ordinary Shares under Award
|
|
Mitesh Dhanak
|
Chief Executive Officer
|
293,550
|
|
James Lamb
|
Interim Chief Financial Officer
|
62,500
|
The awards have been granted as
options with an option price per share of nil and will vest the
third anniversary of the grant of the awards, subject to the
grantee's continued service and to the extent to which the
performance conditions set for the awards are satisfied.
The quantum of the LTIP awards have been
substantially reduced by over 50%, compared to previous awards, to
reflect the current share price.
The performance vesting of up to a
distinct 50% of each award (the "TSR Part") will be dependent on
the Company's total shareholder return ("TSR") performance over the three year
period following the grant of the award relative to the TSR
performance (over the same period) of the constituents of the FTSE
AIM 100 as at the grant of the award. Sliding scale targets
apply.
The performance vesting of up to the
other 50%of the award (the "EPS
Part") will be dependent on the Company's adjusted earnings
per share for the financial year ending 31 January 2027.
Sliding scale targets apply.
In respect of each of the above
measures, an environmental, social and governance ("ESG") related underpin measure also
applies, with a commitment on reducing the level of the Company's
Scope 1 emissions over the three-year period following the grant of
the award.
A two-year post vesting holding
period (net of sale for tax liability) applies to the award
granted to Mitesh Dhanak only.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1. Mitesh
Dhanak
2. James Lamb
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
1. Chief Executive
Officer
2. Interim Chief Financial
Officer
|
|
b)
|
Initial
notification/Amendment
|
Initial Announcement
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Eneraqua Technologies plc
|
|
b)
|
LEI
|
21380045T7LPP2T83245
|
|
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 each in Eneraqua Technologies plc
GB00BNYDGM91
|
|
b)
|
Nature of the transaction
|
Grant of options over Ordinary
Shares under the Eneraqua Technologies plc Long Term Incentive Plan
at an option price of nil pence per Ordinary Share.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1. Nil
2. Nil
|
1. 293,550
2. 62,500
|
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
Not applicable - single
transactions
|
|
e)
|
Date of the transaction
|
8 August 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
|
For
further information please contact:
Eneraqua Technologies plc
Mitesh Dhanak, Chief Executive
Officer
|
Via Alma
|
|
Panmure Liberum Limited (Nomad and Joint
Broker)
Edward Mansfield
John More
Anake Singh
|
Tel: 0203 100 2000
|
|
Singer Capital Markets (Joint
Broker)
Sandy Fraser
Asha Chotai
|
Tel: 020 7496 3000
|
|
Alma Strategic Communication (Financial PR)
Justine James
Andy Bryant
Will Ellis Hancock
|
Tel: 020 3405 0205
eneraqua@almastrategic.com
|
Notes to
editors
Eneraqua Technologies (AIM:ETP) is a specialist
in energy and water efficiency. The Group operates in two markets,
energy and water. Energy is the larger, with the Company focused on
clients with end of life gas, oil or electric heating and hot water
systems. The Group provides turnkey retrofit district or communal
heating systems based either on high-efficiency gas or ground/air
source heat pump solutions that support Net Zero and
decarbonisation goals.
Water is a growing service offering focused on
water efficiency upgrades for utilities and non-domestic clients
including hotels, hospitals and care homes.
The Group's activities are underpinned by the
Company's wholly-owned intellectual property, the Control Flow
HL2024® family of products which reduce water wastage and improve
the performance of heating and hot water systems.
The Group's main country of operation is the
United Kingdom. The Group's head office is based in London with
additional offices in Leeds, Washington (Sunderland), India, Spain
and the Netherlands. The Group has 206 employees, with the majority
employed within the UK. Eneraqua Technologies has received the
London Stock Exchange's Green Economy Mark.
To find out more, please visit:
www.eneraquatechnologies.com