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 £7.05 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 instrument, type of instrument
Identification code | Options under the Smart Metering Systems Unapproved Share Option Plan, subject to performance conditions measured over the 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)
|
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/A Single Transaction
| ||||
| 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 instrument, type of instrument
Identification code | Options under the Smart Metering Systems Unapproved Share Option Plan, subject to performance conditions measured over the 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)
|
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/A Single Transaction
| ||||
| 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 instrument, type of instrument
Identification code | Options under the Smart Metering Systems Unapproved Share Option Plan, subject to performance conditions measured over the 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)
|
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/A Single Transaction
| ||||
| 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 instrument, type of instrument Identification code | 4,680,851 ordinary shares of 1 pence each
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) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | 4,680,851 ordinary shares at 705pence | ||||
| 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 and Joint Broker) | 0131 220 6939 / 020 7397 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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