6 Aug 2014 16:39
Smart Metering Systems plc
Block Listing of Ordinary Shares
("SMS" or the "Company")
6 August 2014
The Company announces that an application has been made to the London Stock Exchange for a block admission for a total of 745,169 ordinary shares of 1p each ("New Ordinary Shares") to be admitted to trading on AIM.
New Ordinary Shares will be issued from time to time pursuant to the exercise of options under the following schemes:
Approved Company Share Option Plan | 565,794 |
Unapproved Company Share Option Plan | 179,375 |
New Ordinary Shares, when issued, will rank pari passu with the existing ordinary shares of the Company. It is expected that admission will become effective on 12 August 2014 ("Admission"). Following Admission, there will be no change to the Company's issued share capital.
For Further Information:
Smart Metering Systems plc | 0141 249 3850 |
Alan Foy, Chief Executive Officer | |
Glen Murray, Finance Director | |
Cenkos Securities plc | 0131 220 6939 / 0207 397 8900 |
Neil McDonald | |
Beth McKiernan | |
Kreab Gavin Anderson | 020 7074 1800 |
Chris Philipsborn | |
Matthew Jervois Natalie Biasin |
Notes to Editors
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