Smart Metering Systems PLC Directors dealings (4755S)
30 November 2012 - 4:06PM
UK Regulatory
TIDMSMS
RNS Number : 4755S
Smart Metering Systems PLC
30 November 2012
30 November 2102
Smart Metering Systems plc
("Smart Metering Systems" or the "Company")
Directors dealings
The Company announces that it has been advised by Alan Foy and
Steve Timoney, Directors, that they have today respectively sold
4,444,979 and 1,860,466 ordinary shares of 1p each in the Company
("Shares"), aggregating to 6,305,445 Shares, representing in total
approximately 7.57 per cent of the issued share capital of Smart
Metering Systems. The Shares sold by Mr Timoney are held through
Lochlane Investments Limited ("Lochlane")
The Shares were all sold to institutional investors at a price
of 215 pence per Share and should assist the liquidity of the
Company's Shares in the market. Cenkos Securities, acted as sole
broker. Following these disposals, Alan Foy holds 8,889,958 Shares
and Steve Timoney, through Lochlane, holds 23,144,344 Shares,
representing respectively approximately 10.67% and 27.77% of the
issued share capital of the Company.
Alan Foy and Lochlane (and their associated persons) have
undertaken, save in respect of certain exceptional circumstances,
that their remaining Shares will be the subject of lock--ins with
Cenkos Securities, prohibiting the sale of these Shares prior to 4
December 2013.
For Further Information:
Smart Metering Systems plc
Alan Foy, Chief Executive
Officer
Glen Murray, Finance Director 0141 249 3850
Cenkos Securities
Ken Fleming
Jon Fitzpatrick 0131 220 6939 / 0207 397 8900
Kreab Gavin Anderson
Ken Cronin
Anthony Hughes 020 7074 1800
Notes to Editors:
Established in 1995, SMS based in Glasgow, connects, owns,
operates and maintains metering systems and databases on behalf of
major energy companies.
Currently SMS 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.
SMS has further applications for gas with its ADM(TM) 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. Longer term SMS also has additional
applications for water and LPG.
SMS was admitted to the AiM market in July 2011, for more
information on SMS please visit the company's website:
www.sms-plc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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