REG - eEnergy Group PLC - Award of Options and PDMR Transactions
08/12/2021 07:00
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RNS Number : 9020U eEnergy Group PLC 08 December 2021
8 December 2021
eEnergy Group plc
("eEnergy" or "the Company")
Award of Options and PDMR Transactions
eEnergy (AIM: EAAS), a leading Energy Efficiency-as-a-Service and Energy
Management-as-a-Service business in the UK and Ireland, announces that further
to the announcement on 14 June 2021, the Remuneration Committee of the Board
has approved the award of options to the executive management team over a
total of 14,325,000 ordinary shares of £0.03 each in the capital of the
Company (the "Options"). The Company consulted with its leading institutional
investors prior to making these awards ("Institutional Investors") and the
feedback from the investors has been reflected in the structure of the Option
awards.
The Option awards have been made to incentivise and align the wider management
team of the business to help drive shareholder value over the longer term.
The awards have been structured primarily to qualify for the tax advantaged
Enterprise Management Incentive ("EMI Share Options"), but also with
non-advantaged share option awards alongside. The awards have been made under
the Company's existing Management Incentive Plan ("MIP"), as announced on 8
July 2020.
At the time of the Company's admission to AIM in January 2020, the Board made
a commitment that the maximum dilution for existing shareholders by the MIP to
management and staff would not exceed 15%. Following feedback from the
Institutional Investors, the Board will not increase the size of the pool of
shares available for share based incentives as further shares are issued by
the Company until the maximum potential dilution for existing shareholders has
fallen to 10%, in-line with the Investment Association's Principles of
Remuneration. As a result of these Option awards, the maximum dilution for
existing shareholders should all of the MIP awards be exercised in full would
be 14.06%.
The option awards are designed to retain the key management team that the
Company has brought together. With the exception of Crispin Goldsmith*, the
Options are being granted with an exercise price at nominal value, but with
various vesting criteria over a three-year term, as follows:
· 1/3rd with an exercise condition of the share price being above 24p at
vesting;
· 1/3rd with an exercise condition of the share price being above 20p at
vesting; and
· 1/3rd with no exercise price condition
The awards of Options to executives who are Persons Discharging Managerial
Responsibilities are as follows:
Name of Director/PDMR EMI Share Options Non-advantaged share options Total shares under option % of issued share capital
Rob van Leeuwen 1,900,000 2,100,000 4,000,000 1.16%
Crispin Goldsmith* 1,900,000 600,000 2,500,000 0.73%
Delvin Lane 1,900,000 600,000 2,500,000 0.73%
Simon Smith 1,900,000 600,000 2,500,000 0.73%
Nicole Street 500,000 - 500,000 0.15%
* Crispin Goldsmith joined the Company to lead the M&A activities in
August 2020 (when the average daily share price for the month was c.7p). The
planned awards reflect Crispin's service over the past 15 months, including
contribution to growth in the business during that time, and therefore he will
be awarded 2/3rd of his options with an exercise price condition of 15p and
1/3rd with no exercise price condition.
For further information, please visit www.eenergyplc.com
(http://www.eenergyplc.com) or contact:
eEnergy Group plc Tel: +44 20 7078 9564
Harvey Sinclair, Chief Executive Officer info@eenergyplc.com (mailto:info@eenergyplc.com)
Ric Williams, Chief Financial Officer
Singer Capital Markets (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, James Pope info@turnerpope.com (mailto:info@turnerpope.com)
Tavistock Tel: +44 207 920 3150
Jos Simson, Simon Hudson, Katie Hopkins eEnergy@tavistock.co.uk (mailto:eEnergy@tavistock.co.uk)
About eEnergy Group plc
eEnergy Group plc is an integrated energy services company, enabling
organisations to transition to 'Net Zero' through "Energy-as-a-Service". The
Group offers:
· Energy Management as-a-Service; providing energy measurement,
monitoring and analytics on top of core "Zero Carbon" procurement services;
· Energy Efficiency as-a-Service; zero upfront capital, energy
reduction solutions through measured savings contracts including its LED
businesses; and
· Enhanced customer value proposition through data gathered and
analysed with its proprietary MY ZeERO intelligent analytics platform.
eEnergy was admitted to AIM in January 2020 with a strategy to use its market
leading eLight "Light as-a-Service" business as the foundation to expand
eEnergy as a broader energy services company via a 'Buy & Build' strategy.
The Group has completed four transactions since admission, building a Top 5
energy management business in the UK and acquiring proprietary smart metering
and analytics capability through the investment in MY ZeERO. The Board's
strategy continues to be to build a broader energy services company through
acquisition with a particular focus on energy efficiency related capabilities
and technologies. The market in the EU for energy efficiency services was
approximately €25 billion in 2017 and is expected to double by 2025.
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 Rob van Leeuwen
2 Reason for notification
a. Position/Status Person Discharging Managerial Responsibilities
b. Initial notification/ Initial Notification
Amendment
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 Options over Ordinary shares of 0.3p each
Identification Code
ISIN: GB00BJP1KD31
b. Nature of the transaction a) Grant of EMI Share Options
b) Grant of Non-advantaged share options
c. Price(s) and volume(s)
Price(s) per share Volume(s)
a) 0.3p - exercise price a) 1,900,000
b) 0.3p - exercise price b) 2,100,000
d. Aggregated information
- Volume 4,000,000 share options
- Price 0.3p exercise price
e. Date of the transaction 7 December 2021
f. Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Crispin Goldsmith
2 Reason for notification
a. Position/Status Person Discharging Managerial Responsibilities
b. Initial notification/ Initial Notification
Amendment
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 Options over Ordinary shares of 0.3p each
Identification Code
ISIN: GB00BJP1KD31
b. Nature of the transaction a) Grant of EMI Share Options
b) Grant of Non-advantaged share options
c. Price(s) and volume(s)
Price(s) per share Volume(s)
a) 0.3p - exercise price a) 1,900,000
b) 0.3p - exercise price b) 600,000
d. Aggregated information
- Volume 2,500,000 share options
- Price 0.3p exercise price
e. Date of the transaction 7 December 2021
f. Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Delvin Lane
2 Reason for notification
a. Position/Status Person Discharging Managerial Responsibilities
b. Initial notification/ Initial Notification
Amendment
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 Options over Ordinary shares of 0.3p each
Identification Code
ISIN: GB00BJP1KD31
b. Nature of the transaction a) Grant of EMI Share Options
b) Grant of Non-advantaged share options
c. Price(s) and volume(s)
Price(s) per share Volume(s)
a) 0.3p - exercise price a) 1,900,000
b) 0.3p - exercise price b) 600,000
d. Aggregated information
- Volume 2,500,000 share options
- Price 0.3p exercise price
e. Date of the transaction 7 December 2021
f. Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Simon Smith
2 Reason for notification
a. Position/Status Person Discharging Managerial Responsibilities
b. Initial notification/ Initial Notification
Amendment
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 Options over Ordinary shares of 0.3p each
Identification Code
ISIN: GB00BJP1KD31
b. Nature of the transaction a) Grant of EMI Share Options
b) Grant of Non-advantaged share options
c. Price(s) and volume(s)
Price(s) per share Volume(s)
a) 0.3p - exercise price a) 1,900,000
b) 0.3p - exercise price b) 600,000
d. Aggregated information
- Volume 2,500,000 share options
- Price 0.3p exercise price
e. Date of the transaction 7 December 2021
f. Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Nicole Street
2 Reason for notification
a. Position/Status Person Discharging Managerial Responsibilities
b. Initial notification/ Initial Notification
Amendment
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 Options over Ordinary shares of 0.3p each
Identification Code
ISIN: GB00BJP1KD31
b. Nature of the transaction Grant of EMI Share Options
c. Price(s) and volume(s)
Price(s) per share Volume(s)
0.3p - exercise price 500,000
d. Aggregated information
- Volume 500,000 share options
- Price 0.3p exercise price
e. Date of the transaction 7 December 2021
f. Place of the transaction Outside a trading venue
-ends-
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