SRT MARINE SYSTEMS PLC

Major Shareholding Notification • Feb 25, 2015

National Storage Mechanism | Additional information

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RNS Number : 8880F

Smart Metering Systems PLC

25 February 2015

25 February 2015

Smart Metering Systems plc

("SMS" or "the Company")

Notification of Major Interest in Shares

Smart Metering Systems plc (AIM: SMS.L) announces as follows:

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii				SMART METERING SYSTEMS PLC
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights					Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: iii		Abdiel Capital Management, LLC Abdiel Capital Advisors, LP
4. Full name of shareholder(s) (if different from 3.):iv		Abdiel Qualified Master Fund, LP holds 3,228,632 of the shares in Smart Metering Systems PLC. Abdiel Capital, LP holds 198,487 of the shares in Smart Metering Systems PLC.
5. Date of the transaction and date on which the threshold is crossed or reached: v		23rd February 2015
6. Date on which issuer notified:		25th February 2015
7. Threshold(s) that is/are crossed or reached: vi, vii		4%

8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction						Resulting situation after the triggering transaction
Number of Shares			Number of Voting Rights			Number of shares		Number of voting rights			% of  voting rights x
Direct		Direct xi		Indirect xii	Direct			Indirect
GB00B4X1RC86				2,513,536							3,427,119				4.01%
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument			Expiration date xiii		Exercise/ Conversion Period xiv					Number of voting rights that may be acquired if the instrument is exercised/ converted.				% of voting rights
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument		Exercise price		Expiration date xvii		Exercise/ Conversion period xviii			Number of voting rights instrument refers to				% of voting rights xix, xx
													Nominal			Delta
Total (A+B+C)
Number of voting rights								Percentage of voting rights
3,427,119								4.01%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:	Abdiel Capital Advisors, LP acts as an investment manager for Abdiel Qualified Master Fund, LP and Abdiel Capital, LP. Abdiel Capital Management, LLC is the general partner of Abdiel Qualified Master Fund, LP and Abdiel Capital, LP. Abdiel Qualified Master Fund, LP beneficially holds 3,228,632 of the shares in Smart Metering Systems PLC described above. Abdiel Capital, LP beneficially holds 198,487 of the shares in Smart Metering Systems PLC described above. In each case, these shares are held by J.P. Morgan Clearing Corp as custodian and nominee.
14. Contact name:	Peter Snedeker
15. Contact telephone number:	+001 646 496 9203

About Smart Metering Systems

Established in 1995, Smart Metering Systems plc, based in Glasgow, connects, owns, operates and maintains metering systems and databases on behalf of major energy companies.

Currently the Company is concentrating its efforts on offering its unique integrated services to the UK industrial and commercial gas market in which its customers have an 80% market share.

The Company has further applications for gas with its ADM™ device which allows "smart" functions such as remote reading and half-hourly consumption data to be offered to customers in addition to the normal metering services.

SMS expanded its services into the electricity market through the acquisition of Utility Partnership Limited in April 2014. The Company can now provide a fully integrated service from beginning to end to cover the installation of a gas/electricity supply/connection to the procurement, installation and management of a gas or electricity meter asset to the collection and management of customer data and ongoing energy management services. Longer term the Company also has additional applications for water and LPG.

The Company was admitted to the AIM market in July 2011 and is now part of the FTSE AIM 50 index. For more information on SMS please visit the Company's website: www.sms-plc.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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