14 June 2021
eEnergy Group plc
("eEnergy" or "the Company")
Management Team Appointment and PDMR Notification
eEnergy Group plc (AIM: EAAS), a leading "Energy Efficiency-as-a-Service" (EEaaS) business in the UK and Ireland, is pleased to announce the appointment of Crispin Goldsmith to its Group Executive team as Chief Strategy & Commercial Officer (non-Board), primarily responsible for the Group's M&A strategy.
Crispin has over 20 years of experience in corporate finance and M&A. His previous roles include Director of Strategy and Corporate Development at Dixons Carphone, Investment Director at Duke Street, a leading UK private equity firm and Director at Royal Bank Equity Finance, the manager of the £1.1 billion RBS Special Opportunities Fund.
As part of Crispin's appointment to the management team, the Company has reallocated certain responsibilities and adjusted an award under its management incentive plan ("MIP"), the details of which were announced on 8 July 2020. The adjustment to the MIP will allow the Company to issue share options to the wider management team in due course, within the limits stated in the Company's Admission Document in January 2020.
As such, Ric Williams, Chief Financial Officer, has agreed to surrender all of his holding of Growth Share Awards. The Growth Shares can be exchanged for new ordinary shares of 0.3 pence each in the Company, subject to meeting performance conditions over a minimum time period. Ric retains his 4,084,960 EMI Share Options.
Harvey Sinclair, CEO of eEnergy, commented: "Crispin brings over 20 years of experience in sourcing and executing successful M&A transactions to the Group. I am very pleased to welcome him to the management team. Crispin joined us last year and was instrumental in the acquisition of Beond Group and the trade and assets of Measure My Energy. We continue to see exciting acquisition opportunities in energy management and energy efficiency as part of our 'buy and build' strategy. Bringing Crispin into the management team reflects our focus on the next step of our growth trajectory."
Contacts:
| eEnergy Group plc | Tel: +44 20 7078 9564 |
| Harvey Sinclair, Chief Executive Officer Ric Williams, Chief Financial Officer
| |
| N+1 Singer (Nominated Adviser and Joint Broker) | Tel: +44 20 7496 3000 |
| Justin McKeegan, Mark Taylor, Asha Chotai (Corporate Finance) Tom Salvesen (Corporate Broking)
| |
| Turner Pope Investments (Joint Broker) | Tel: +44 20 3657 0050 |
| Andy Thacker
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| SECNewgate | Tel: +44 7540 106 366 |
| Robin Tozer Isabelle Smurfit |
About eEnergy Group plc
eEnergy Group plc is a leading "Energy Efficiency-as-a-Service" (EEaaS) business focused on providing its core "Light-as-a-Service" ("LaaS"), to educational and commercial & industrial customers through its eLight and RSL operations in the UK and Ireland. The Group helps businesses and schools switch to LED lighting, typically for a fixed monthly service fee, avoiding any upfront payments.
eEnergy was admitted to AIM in January 2020. The Board's strategy is to develop eEnergy as a broader energy services company and acquire other businesses in the energy management sector. The market in the EU for energy efficiency services was approximately €25 billion in 2017 and is expected to double by 2025.
In December 2020, eEnergy completed the acquisition of Beond Group Limited. Beond is a UK-based renewable energy consulting and procurement business, whose services aim to reduce costs for clients and tackle climate change. Beond's services include provision of clean energy strategy, smart energy procurement, hedging strategies, bill validation, bureau services and market intelligence. However, its key offering is its proprietary platform used to run reverse energy auctions for clients.
eEnergy has been awarded The Green Economy Mark by the London Stock Exchange, which recognises a company's work on sustainability.
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Richard Williams | ||||
| 2
| Reason for the notification | |||||
| a)
| Position/status | PDMR (Chief Financial Officer and Director of the Company) | ||||
| b)
| Initial notification /Amendment | Initial Notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name | eEnergy Group plc | ||||
| b)
| LEI
| 2138003SZQSPC16PLX94 | ||||
| 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 | Growth Share Awards, which may be exchanged for new ordinary shares of 0.3 pence each in the Company ("Ordinary Shares"), subject to a minimum time period and meeting performance conditions. | ||||
| | | |||||
| Identification code | GB00BJP1KD31 | |||||
| | | |||||
| b)
| Nature of the transaction
| Surrender of Growth Share Awards
| ||||
| c)
| Price(s) and volume(s) | 2,500 Growth Share Awards, equivalent to 25% of total Growth Share Awards issued | | |||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| d)
| Aggregated information | N/A | | | ||
| | | |||||
| e)
| Date of the transaction | 11 June 2021 | ||||
| f)
| Place of the transaction | Off market transaction
| ||||
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