TIDMSMS
RNS Number : 8319O
Smart Metering Systems PLC
11 February 2021
Smart Metering Systems plc
("SMS" or "the Company")
Grant of Options and PDMR Dealing
As required by Article 19 Of Regulation (EU) No. 596/2014 on
market abuse, Smart Metering Systems plc (AIM: SMS.L) announces
that pursuant to a Board approval it has, on 10 February 2021,
granted the following options over ordinary shares of 1 pence each
in the Company to certain directors and PDMRs under the Smart
Metering Systems Unapproved Share Option Plan established on 20
June 2011 (the "Options"):
Executive Director Number of Options Exercise Price
Alan Foy 300,000 705.4p
------------------ ---------------
Tim Mortlock 250,000 705.4p
------------------ ---------------
PDMR Number of Options Exercise Price
Craig McGinn 150,000 705.4p
------------------ ---------------
The vesting and exercise of the Options is subject to
satisfaction of certain performance conditions relating to the
Company's market capitalisation, personal objectives and health and
safety criteria during the five year period up until 31 December
2025
SMS additionally announces that it has received notification
that on 10 February 2021, Metis Investments Limited, a person
closely associated with Alan Foy, Chief Executive Officer of the
Company and of which he is a Director and shareholder, transferred
4,680,851 ordinary shares of 1p each in the Company ("Ordinary
Shares") to Alan Foy, at a price of GBP7.05 per Ordinary Share.
Following this transaction, Alan Foy (together with persons
closely associated with him) has an unchanged interest in 5,953,201
Ordinary Shares, representing 5.27% of the issued share capital of
the Company.
The notifications below provide further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging
managerial responsibilities/person
closely associated
a) Name Alan Foy
------------------------------------ ---------------------------------
2 Reason for notification
------------------------------------ ---------------------------------
a) Position/Status PDMR - Director
------------------------------------ ---------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission
allowance market participant,
auction platform, auctioneer
or auction monitor
------------------------------------ ---------------------------------
a) Name Smart Metering Systems plc
------------------------------------ ---------------------------------
b) LEI 213800FGOUFSDPE33S71
------------------------------------ ---------------------------------
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 Options under the Smart Metering
instrument, type of instrument Systems Unapproved Share Option
Plan, subject to performance
conditions measured over the
period 1 January 2021 - 31
Identification code December 2025 and focused on
market capitalisation of the
company, personal objectives
and health and safety criteria.
SMS
------------------------------------ ---------------------------------
b) Nature of the transaction Award of Share Options
------------------------------------ ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
705.4p 300,000
----------
------------------------------------ ---------------------------------
d) Aggregated information N/A Single Transaction
* Aggregated volume
* Price
------------------------------------ ---------------------------------
e) Date of the transaction 10 February 2021
------------------------------------ ---------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------ ---------------------------------
1 Details of the person discharging
managerial responsibilities/person
closely associated
a) Name Tim Mortlock
------------------------------------ ---------------------------------
2 Reason for notification
------------------------------------ ---------------------------------
a) Position/Status PDMR - Director
------------------------------------ ---------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission
allowance market participant,
auction platform, auctioneer
or auction monitor
------------------------------------ ---------------------------------
a) Name Smart Metering Systems plc
------------------------------------ ---------------------------------
b) LEI 213800FGOUFSDPE33S71
------------------------------------ ---------------------------------
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 Options under the Smart Metering
instrument, type of instrument Systems Unapproved Share Option
Plan, subject to performance
conditions measured over the
Identification code period 1 January 2021 - 31
December 2025 and focused on
market capitalisation of the
company, personal objectives
and health and safety criteria.
SMS
------------------------------------ ---------------------------------
b) Nature of the transaction Award of Share Options
------------------------------------ ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
705.4p 250,000
----------
------------------------------------ ---------------------------------
d) Aggregated information N/A Single Transaction
* Aggregated volume
* Price
------------------------------------ ---------------------------------
e) Date of the transaction 10 February 2021
------------------------------------ ---------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------ ---------------------------------
1 Details of the person discharging
managerial responsibilities/person
closely associated
a) Name Craig McGinn
------------------------------------ ---------------------------------
2 Reason for notification
------------------------------------ ---------------------------------
a) Position/Status PDMR
------------------------------------ ---------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission
allowance market participant,
auction platform, auctioneer
or auction monitor
------------------------------------ ---------------------------------
a) Name Smart Metering Systems plc
------------------------------------ ---------------------------------
b) LEI 213800FGOUFSDPE33S71
------------------------------------ ---------------------------------
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 Options under the Smart Metering
instrument, type of instrument Systems Unapproved Share Option
Plan, subject to performance
conditions measured over the
period 1 January 2021 - 31
Identification code December 2025 and focused on
market capitalisation of the
company, personal objectives
and health and safety criteria.
SMS
------------------------------------ ---------------------------------
b) Nature of the transaction Award of Share Options
------------------------------------ ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
705.4p 150,000
----------
------------------------------------ ---------------------------------
d) Aggregated information N/A Single Transaction
* Aggregated volume
* Price
------------------------------------ ---------------------------------
e) Date of the transaction 10 February 2021
------------------------------------ ---------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------ ---------------------------------
1 Details of the person discharging
managerial responsibilities/person
closely associated
a) Name (a) Alan Foy (as Purchaser);
(b) Metis Investments Limited,
declared as being a person
closely associated with Alan
Foy, who is a Director and
shareholder of the Company
(being a person discharging
managerial responsibility)
and Director and shareholder
of Metis Investments Limited
(as seller).
------------------------------------ -------------------------------------
2 Reason for notification
------------------------------------ -------------------------------------
a) Position/Status (a) Alan Foy, Director
(b) Metis Investments Limited,
declared as being a person
closely associated with Alan
Foy, who is a Director and
shareholder of the Company
(being a person discharging
managerial responsibility)
and Director and shareholder
of Metis Investments Limited.
------------------------------------ -------------------------------------
b) Initial notification/Amendment Initial Notification
------------------------------------ -------------------------------------
3 Details of the issuer, emission
allowance market participant,
auction platform, auctioneer
or auction monitor
------------------------------------ -------------------------------------
a) Name Smart Metering Systems plc
------------------------------------ -------------------------------------
b) LEI 213800FGOUFSDPE33S71
------------------------------------ -------------------------------------
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 4,680,851 ordinary shares of
instrument, type of instrument 1 pence each
Identification code
AIM: SMS
------------------------------------ -------------------------------------
b) Nature of the transaction Sale by a Director of shares
to an entity declared as closely
associated with that Director
------------------------------------ -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
705p 4,680,851
----------
------------------------------------ -------------------------------------
d) Aggregated information 4,680,851 ordinary shares at
* Aggregated volume 705pence
* Price
------------------------------------ -------------------------------------
e) Date of the transaction 10 February 2021
------------------------------------ -------------------------------------
f) Place of the transaction London Stock Exchange, AIM
------------------------------------ -------------------------------------
For further information:
Smart Metering Systems plc 0141 249 3850
Alan Foy, Chief Executive Officer
Dilip Kejriwal, Head of Investor
Relations
Cenkos Securities plc (Nomad 0131 220 6939 / 020 7397
and Joint Broker) 8900
Neil McDonald / Pete Lynch
Investec Bank plc (Joint Broker) 020 7597 5970
Christopher Baird / Henry Reast
RBC Capital Markets (Joint Broker) 020 7653 4000
Matthew Coakes / Evgeni Jordanov
Instinctif Partners (PR Adviser) 020 7457 2020
Kay Larsen / Chantal Woolcock SMS@instinctif.com
Notes to Editors
SMS plc (www.sms-plc.com) installs and manages smart meters,
data and carbon reduction assets ("CaRe") to facilitate effective
energy management. The Group manages and optimises these assets
through its in-house technology and data analytical platform. As at
30 June 2020 SMS had 3.74 million meter and data assets under
management.
Established in 1995, SMS provides a full end-to-end service,
from funding and installation to management and maintenance, with a
highly skilled workforce, deep engineering expertise and
well-established industrial partnerships.
SMS is leading the smart energy revolution and the assets
deployed remain at the heart of delivering and accelerating the UK
government's net zero carbon ambition. In 2019, SMS was awarded the
London Stock Exchange Green Economy Mark.
SMS plc is headquartered in Glasgow with a national presence
across twelve UK locations.
SMS's shares are listed on AIM.
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END
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