Source - LSE Regulatory
RNS Number : 1011F
Eneraqua Technologies PLC
06 July 2023
 

6 July 2023

 

 

Eneraqua Technologies plc

("Eneraqua", the "Company" or the "Group")

Notification and public disclosure of transactions by PDMR

Grant of LTIP Awards

Eneraqua Technologies plc, a specialist provider of energy and water efficiency solutions, announces that on 5 July 2023 the following awards over ordinary shares of 1 pence each ("Ordinary Shares") in the Company were granted under the Eneraqua Technologies plc Long Term Incentive Plan ("LTIP"), as set out in the Admission document in November 2021, to the following person(s) discharging managerial responsibilities:

Participant

Position

  No. of Ordinary Shares under Award

Mitesh Dhanak

Chief Executive Officer

 219,231

Iain Richardson

Chief Financial Officer

 146,154

The awards were granted as options with an option price per share of nil and will vest the third anniversary of the grant of the awards, subject to the grantee's continued service and to the extent to which the performance conditions set for the awards are satisfied.

The performance vesting of up to a distinct 50 percent. of the each award (the "TSR  Part") will be dependent on the Company's total shareholder return ("TSR") performance over the three year period following the grant of the award relative to the TSR performance (over the same period) of the constituents of the FTSE AIM 100 as at the grant of the award. Sliding scale targets apply.

 

The performance vesting of up to the other 50 percent. of the award (the "EPS Part") will be dependent on the Company's adjusted earnings per share for the financial year ending 31 January 2026. Sliding scale targets apply.

 

In respect of each of the above measures, an environmental, social and governance ("ESG") related underpin measure also applies, with a commitment on reducing the level of the Company's Scope 1 emissions over the three-year period.

 

A two-year post vesting holding period (net of sale for tax liability) applies to the awards.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.  Mitesh Dhanak

2.  Iain Richardson

2

Reason for Notification

a)

Position/status

1.  Chief Executive Officer

2.  Chief Financial Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Eneraqua Technologies plc

b)

LEI

21380045T7LPP2T83245 

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

Ordinary Shares of 1 pence each in Eneraqua Technologies plc

 

GB00BNYDGM91

b)

Nature of the transaction

Grant of options over Ordinary Shares under the Eneraqua Technologies plc Long Term Incentive Plan at an option price of nil pence per Ordinary Share.

c)

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

1.  Nil

2.  Nil

1.  219,231

2.  146,154

d)

Aggregated information

 Aggregated volume

 Price

 

Not applicable - single transactions

e)

Date of the transaction

5 July 2023

f)

Place of the transaction

Outside of a trading venue

 

For further information please contact[1]:

Eneraqua Technologies plc

Mitesh Dhanak, Chief Executive Officer

Iain Richardson, Chief Financial Officer

 

 

 

Via Alma PR

 

Liberum (Nomad and Joint Broker)

Edward Mansfield

Benjamin Cryer

 

 

Tel: 0203 100 2000

Singer Capital Markets (Joint Broker)

Sandy Fraser

Justin McKeegan

Asha Chotai

 

 

Tel: 020 7496 3000

Alma PR (Financial PR)

Justine James

Sam Modlin

Will Ellis Hancock

 

Tel: 020 3405 0205

eneraqua@almapr.co.uk

 

Notes to editors 

Eneraqua Technologies plc (AIM:ETP) is a specialist in energy and water efficiency. The Group designs and delivers improved energy and water systems which utilise its wholly owned intellectual property, Control Flow HL2024. Energy was the first market the Company entered and this is the larger sector, with the Company focused on clients with end of life gas, oil or electric heating and hot water systems. The Group provides turnkey retrofit district or communal heating systems based either on high-efficiency gas or ground/air source heat pump solutions that support Net Zero and decarbonisation goals.

 Water is a growing service offering focused on water efficiency upgrades for utilities and commercial clients including hotels and care homes. It has also expanded into agritech systems.

The activities in both areas are underpinned by the Company's wholly-owned intellectual property, the Control Flow HL2024 family of products which reduce water wastage and improve the performance of heating and hot water systems.

The Company's main country of operation is the United Kingdom. The Company's head office is in London with additional offices in Leeds, Washington (Sunderland), India, Spain and the Netherlands. The Company has 144 employees, with the majority employed within the UK. Eneraqua Technologies has received the London Stock Exchange's Green Economy Mark.

To find out more, please visit: www.eneraquatechnologies.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCEASXSESPDEFA
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Eneraqua Technologies PLC (ETP)

-1.00p (-2.56%)
delayed 07:07AM