7 February 2022
essensys plc
("essensys" or the "Group")
Appointment of James Lowery as CEO UK & Europe and PDMR Dealing
essensys plc, the leading global provider of mission-critical software and technology to the flexible workspace industry, announces the appointment of James Lowery as CEO of its UK and European business, effective immediately.
James joins the Group's Executive Committee and reports to Mark Furness, the Group's Founder & CEO.
James will lead the growth of the UK and European business, as essensys continues to scale its operations globally. James joins from British Land where he co-founded its flexible workspace offering, Storey. He built Storey from concept to a leading flexible workspace brand, scaling it over five years, across multiple locations, whilst assembling an inclusive and diverse team. More broadly, he has experience working across Europe and in the UAE.
Mark Furness, CEO of essensys, said:
"James' experience of launching, scaling, and operating British Land's flex workspace offering Storey will be a huge asset to essensys. His skill set is unique, having bridged the gap between landlord and flex space provider at a leading UK property company. He understands the challenges our customers face, and the pivotal role technology plays. I am excited to have James join to lead our UK and Europe business. His experience will be invaluable to both our customers and our business as we continue to scale globally."
James Lowery, CEO UK & Europe, added:
"The effective utilisation of technology is one of the biggest challenges workspace owners and operators face when trying to meet evolving customer needs. I believe essensys is uniquely positioned to drive forward the industry's digital transformation. A complete, secure and scalable platform, a great team and clear growth plan, makes me incredibly excited about the future."
Grant of options
In connection with the above appointment, the Remuneration Committee has granted options (the "Options") over 89,219 ordinary shares in the capital of the Group to James. The Options are subject to performance conditions, have an exercise price of 0.25 pence per share and will become exercisable from 4 February 2025.
Following this grant, the Group has a total of 3,444,869 share options outstanding, representing 5.4% of the existing issued share capital of the Group.
For further information, please contact:
| essensys plc | +44 (0)20 3102 5252 |
| Mark Furness (Chief Executive Officer) |
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| Singer Capital Markets (nominated adviser and joint broker) | +44 (0)20 7496 3000 |
| Peter Steel / Harry Gooden / George Tzimas |
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| Berenberg (joint broker) | +44 (0)20 3207 7800 |
| Ben Wright / Mark Whitmore |
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| FTI Consulting (public relations adviser) | +44 (0)20 3727 1000 |
| Jamie Ricketts / Eve Kirmatzis / Talia Jessener / Victoria Caton |
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About essensys plc
essensys is the leading global provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry. essensys' software is specifically designed and developed to help solve the complex operational challenges faced by multi-site flexible workspace operators as they grow and scale their operations. The Group's technology allows operators to deliver a range of differentiated, flexible and customer-specific services to a broad base of tenants across multiple locations and helps operators to manage the cost, operational and technological challenges they typically encounter.
essensys' Flex Services Platform , addresses these complex operational challenges, and reduces costs by simplifying the day-to-day management of flexible workspaces and the provision of on-demand IT, technology and infrastructure services to tenants. essensys' platforms automate key tasks and processes and help flexible workspace providers deliver highly efficient, customer-centric workspace solutions and member experiences with enterprise class services.
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
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| a)
| Name
| James Lowery | |||
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| Reason for the notification
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| a)
| Position/status
| PDMR | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
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| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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| a)
| Name
| essensys PLC | |||
| b)
| LEI
| 2138002MSI4WKYNOBS73 | |||
| 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
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| a)
| Description of the financial instrument, type of instrument | Options over ordinary shares | |||
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| Identification code | GB00BJL1ZF49 | ||||
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| b)
| Nature of the transaction
| Grant of options | |||
| c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| 0.25 pence | 89,219 |
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| d)
| Aggregated information | N/A | |||
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| - Aggregated volume |
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| - Price |
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| e)
| Date of the transaction
| 4 February 2022 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
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