REG - Eneraqua Technolgs. - Grant of LTIP Awards

Eneraqua TechnologiesAnnouncement

06/07/2023 07:00

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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  Ordinary Shares of 1 pence each in Eneraqua Technologies plc

     Identification code

                                                                  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     1.  219,231

                                                                  2.  Nil     2.  146,154

 d)  Aggregated information

     -  Aggregated volume                                         Not applicable - single transactions

     -  Price
 e)  Date of the transaction                                      5 July 2023
 f)  Place of the transaction                                     Outside of a trading venue

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  (#_ftn1) :

 Eneraqua Technologies plc

 Mitesh Dhanak, Chief Executive Officer                Via Alma PR

 Iain Richardson, Chief Financial Officer

 Liberum (Nomad and Joint Broker)

 Edward Mansfield                                      Tel: 0203 100 2000

 Benjamin Cryer

 Singer Capital Markets (Joint Broker)

 Sandy Fraser                                          Tel: 020 7496 3000

 Justin McKeegan

 Asha Chotai

 Alma PR (Financial PR)

 Justine James                                         Tel: 020 3405 0205

 Sam Modlin                                            eneraqua@almapr.co.uk (mailto:eneraqua@almapr.co.uk)

 Will Ellis Hancock

 

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

 

(#_ftnref1)

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