Smart Metering Sys - Director/PDMR Shareholding
23/01/2024 15:23
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RNS Number : 6594A Smart Metering Systems PLC 23 January 2024
Smart Metering Systems plc
("SMS" or "the Company")
Annual Grant of Options and PDMR Dealing
As required by Article 19 Of Regulation (EU) No. 596/2014 on market abuse,
Smart Metering Systems plc (AIM: SMS.L) announces that pursuant to a Board
approval it has, on 22 January 2024, granted the following options over
ordinary shares of 1 pence each in the Company ("Ordinary Shares") to certain
directors and PDMRs under the Smart Metering Systems Long Term Incentive Plan
established on 19 May 2022 (the "Options"):
Name Position Number of LTIP Options Exercise Price
Tim Mortlock Executive Director 79,712 Nil
Gail Blain Executive Director 47,120 Nil
Craig McGinn PDMR 15,079 Nil
The vesting of the Options is subject to the Board resolving that certain
performance conditions relating to the Company's financial performance, total
shareholder return and ESG criteria have been satisfied during the three-year
period up until 31 December 2026. The Options would become exercisable in
tranches between 2027 and 2029, subject to earlier vesting in full on a change
of control, resulting from the offer by Sienna Bidco Limited announced on 7
December 2023 (the "Takeover Offer").
The grant and vesting of the Options is consistent with the disclosures made
in the Co-operation Agreement and Scheme Document previously published in
connection with the Takeover Offer. The notifications below provide further
detail.
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Tim Mortlock
2 Reason for notification
a) Position/Status PDMR - Director
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Smart Metering Systems plc
b) LEI 213800FGOUFSDPE33S71
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 under the Smart Metering Systems Long Term Incentive Plan, subject to
performance conditions measured over the period 1 January 2024 - 31 December
2026 and focused on financial performance, total shareholder return and ESG
criteria during the three-year period up until 31 December 2026, subject to
earlier vesting in full if the Takeover Offer becomes unconditional.
SMS
Identification code
b) Nature of the transaction Award of Share Options
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 79,712
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 22 January 2024
f) Place of the transaction London Stock Exchange, AIM
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
22 January 2024
f)
Place of the transaction
London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Gail Blain
2 Reason for notification
a) Position/Status PDMR - Director
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Smart Metering Systems plc
b) LEI 213800FGOUFSDPE33S71
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 under the Smart Metering Systems Long Term Incentive Plan, subject to
performance conditions measured over the period 1 January 2024 - 31 December
2026 and focused on financial performance, total shareholder return and ESG
criteria during the three-year period up until 31 December 2026, subject to
earlier vesting in full if the Takeover Offer becomes unconditional.
SMS
Identification code
b) Nature of the transaction Award of Share Options
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 47,120
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 22 January 2024
f) Place of the transaction London Stock Exchange, AIM
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
22 January 2024
f)
Place of the transaction
London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Craig McGinn
2 Reason for notification
a) Position/Status PDMR
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Smart Metering Systems plc
b) LEI 213800FGOUFSDPE33S71
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 under the Smart Metering Systems Long Term Incentive Plan, subject to
performance conditions measured over the period 1 January 2024 - 31 December
2026 and focused on financial performance, total shareholder return and ESG
criteria during the three-year period up until 31 December 2026, subject to
earlier vesting in full if the Takeover Offer becomes unconditional.
SMS
Identification code
b) Nature of the transaction Award of Share Options
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 15,079
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 22 January 2024
f) Place of the transaction London Stock Exchange, AIM
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
22 January 2024
f)
Place of the transaction
London Stock Exchange, AIM
For further information:
Smart Metering Systems plc 0141 249 3850
Craig McGinn, Company Secretary
Cavendish Securities plc (Nomad and Joint Broker) 0131 220 6939 / 020 7397 8900
Neil McDonald / Pete Lynch
Investec Bank plc (Joint Broker) 020 7597 5970
Christopher Baird / Henry Reast
RBC Capital Markets (Joint Broker) 020 7653 4000
Matthew Coakes / Evgeni Jordanov
Instinctif Partners (PR Adviser) 020 7457 2020
Tim Linacre / Guy Scarborough SMS@instinctif.com
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