REG - Eneraqua Technolgs. - Notification of transactions by PDMR

Eneraqua TechnologiesAnnouncement

08/08/2024 12:45

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RNS Number : 7698Z  Eneraqua Technologies PLC  08 August 2024

 

8 August 2024

Eneraqua Technologies plc

("Eneraqua" or 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 with effect from today, the following
awards over ordinary shares of 1 pence each ("Ordinary Shares") in the Company
have been granted under the Eneraqua Technologies plc Long Term Incentive Plan
("LTIP") to the following person(s) discharging managerial responsibilities:

 

 Participant    Position                          No. of Ordinary Shares under Award
 Mitesh Dhanak  Chief Executive Officer           293,550
 James Lamb     Interim Chief Financial Officer   62,500

The awards have been 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 quantum of the LTIP awards
have been substantially reduced by over 50%, compared to previous awards, to
reflect the current share price.

The performance vesting of up to a distinct 50% of 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%of the award (the "EPS Part")
will be dependent on the Company's adjusted earnings per share for the
financial year ending 31 January 2027. 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 following the grant of the award.

 

A two-year post vesting holding period (net of sale for tax liability) applies
to the award granted to Mitesh Dhanak only.

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1.  Mitesh Dhanak

                                                                  2.  James Lamb
 2   Reason for Notification
 a)  Position/status                                              1.  Chief Executive Officer

                                                                  2.  Interim 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.  293,550

                                                                  2.  Nil     2.  62,500

 d)  Aggregated information

     -  Aggregated volume                                         Not applicable - single transactions

     -  Price
 e)  Date of the transaction                                      8 August 2024
 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

8 August 2024

f)

Place of the transaction

Outside of a trading venue

 

 

 For further information please contact:

 Eneraqua Technologies plc                          Via Alma

 Mitesh Dhanak, Chief Executive Officer

 Panmure Liberum Limited (Nomad and Joint Broker)   Tel: 0203 100 2000

 Edward Mansfield

 John More

 Anake Singh

 Singer Capital Markets (Joint Broker)              Tel: 020 7496 3000

 Sandy Fraser

 Asha Chotai
 Alma Strategic Communication (Financial PR)

 Justine James                                      Tel: 020 3405 0205

 Andy Bryant                                        eneraqua@almastrategic.com

 Will Ellis Hancock

 

Notes to editors

Eneraqua Technologies (AIM:ETP) is a specialist in energy and water
efficiency. The Group operates in two markets, energy and water. Energy is the
larger, 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 non-domestic clients including hotels, hospitals and care homes.

 

The Group's activities 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 Group's main country of operation is the United Kingdom. The Group's head
office is based in London with additional offices in Leeds, Washington
(Sunderland), India, Spain and the Netherlands. The Group has 206 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
(http://www.eneraquatechnologies.com)

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