Smart Metering Systems PLC Directors Dealings (2161I)
01 Juli 2013 - 8:00AM
UK Regulatory
TIDMSMS
RNS Number : 2161I
Smart Metering Systems PLC
01 July 2013
Smart Metering Systems plc
('SMS' or 'the Company')
Directors Dealings
The Board of 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, announces that it has been notified that Kevin Lyon,
Chairman and Non Executive Director and Nigel Christie, Non
Executive Director, have on 28 June 2013 exercised their respective
entitlements over 328,125 share options and 210,000 share options
all at an exercise price of 60p per share.
Mr Lyon and Mr Christie have resolved that, in recognition of
the performance of the SMS business over the past two years since
the flotation of the Company on AIM, they will surrender their
remaining options - representing 109,375 shares and 70,000 shares
respectively (the Surrendered Options) for no consideration, to
allow the Company to grant to certain SMS employees an identical
number of share options on substantially identical terms to the
Surrendered Options as they existed immediately prior to surrender
(including at the original exercise price of 60p per share). These
employees include Glen Murray, CFO, who has been granted options
over 28,700 shares at this exercise price. The date of the grant of
the options is 28 June 2013.
Application will be made to the London Stock Exchange for the
538,125 ordinary shares issued to Mr Lyon and Mr Christie, which
will rank pari passu with the existing shares in issue, to be
admitted to trading on AIM with admission expected to become
effective on 4 July 2013. Following the exercise and transfer
above, Mr Lyon will be interested in 453, 125 ordinary shares and
Mr Christie will be interested in 290,000 ordinary shares. They
will have no further share options in the Company outstanding.
Following admission, the Company will have 83,877,872 ordinary
shares outstanding. The figure of 83,877,872 ordinary shares may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or change their interest in, the Company under the
Financial Conduct Authority's Disclosure and Transparency
Rules.
For Further Information:
Smart Metering Systems
plc 0141 249 3850
Alan Foy, Chief Executive
Officer
Glen Murray, Finance Director
Cenkos Securities 0131 220 6939 / 0207 397 8900
Ken Fleming
Neil McDonald
Kreab Gavin Anderson 020 7074 1800
Chris Philipsborn
Anna Schoeffler
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(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 the company also has
additional applications for water and LPG.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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