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:



  No. of Ordinary Shares under Award

Mitesh Dhanak

Chief Executive Officer


Iain Richardson

Chief Financial Officer


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.



Details of the person discharging managerial responsibilities / person closely associated



1.  Mitesh Dhanak

2.  Iain Richardson


Reason for Notification



1.  Chief Executive Officer

2.  Chief Financial Officer


Initial notification/Amendment

Initial Announcement


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



Eneraqua Technologies plc





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


Description of the financial instrument, type of instrument

Identification code

Ordinary Shares of 1 pence each in Eneraqua Technologies plc




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.


Price(s) and volume(s)






1.  Nil

2.  Nil

1.  219,231

2.  146,154


Aggregated information

 Aggregated volume



Not applicable - single transactions


Date of the transaction

5 July 2023


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


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:


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