AI Terminal
SRT MARINE SYSTEMS PLC
Director's Dealing • Jan 23, 2024
7929_dirs_2024-01-23_2594bf45-0fdb-4fcb-87a5-fba70ca42653.html
Director's Dealing
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information 
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
Identification code
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
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
- 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
Identification code
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
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
- 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
Identification code
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
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
- 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 | [email protected] |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHFLFFELLIVFIS