Utilitywise plc Notification of Transaction in Shares (1696N)

TIDMUTW

RNS Number : 1696N

Utilitywise plc

21 October 2016

21 October 2016

Utilitywise plc

(the "Company")

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them (in accordance with the Market Abuse Regulations)

Utilitywise plc (AIM:UTW), a leading independent utility cost management consultancy, announces that following his recent appointment as Chief Executive Officer, Brendan Flattery was on 21 October 2016 granted awards ('Awards') over a total of 700,000 ordinary shares of 0.1 pence each in the capital of the Company ('Shares') under and subject to the terms of a share award agreement.

The Awards, which are structured as nominal cost options with an exercise price of 0.1 pence per share, are as follows:

-- a Performance Award over 350,000 Shares which is subject to the satisfaction of earnings per share and cash flow performance conditions assessed over the three-year period to 31 July 2018. The award will normally vest on the later of the second anniversary of the grant and the determination of the performance conditions, subject to continued employment with the Company.

-- a Restricted Share Award over 350,000 Shares which will normally vest on the second anniversary of the date of grant, subject to continued employment with the Company.

The Awards will normally remain exercisable to their vested extent until the day before the tenth anniversary of the date of grant.

On exercise it is intended that the Awards will be satisfied using existing Shares.

The Company was notified of the above transactions on 21 October 2016.

For further information:

 
Utilitywise plc                                    0330 303 0233 
Geoff Thompson (CEO) 
Jon Kempster (CFO) 
 
finnCap (NOMAD and broker)                         020 7220 0500 
Matt Goode/ Grant Bergman (Corporate Finance) 
Simon Johnson (Corporate Broking) 
 Liberum (Joint broker)                              020 3100 2000 
Robert Morton/ Steve Pearce 
Redleaf Communications                             020 7382 4730 
Rebecca Sanders-Hewett/ David Ison/ Susie Hudson 
 

About Utilitywise

Utilitywise is a leading independent utility cost management consultancy based in Newcastle. The Group has established trading relationships with a number of major UK and European energy suppliers and provides services to its customers designed to assist them in achieving better value out of their energy contracts, reduced energy consumption and lower carbon footprint.

Details of the full notification received by the Company are set out below:

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  --------------------------------------------------------------------- 
 a)   Name                             Brendan Flattery 
---  -------------------------------  ------------------------------------ 
 2.   Reason for the Notification 
---  --------------------------------------------------------------------- 
 a)   Position/status                  Chief Executive Officer 
---  -------------------------------  ------------------------------------ 
 b)   Initial notification/Amendment   Initial 
---  -------------------------------  ------------------------------------ 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------------- 
 a)   Name                             Utilitywise plc 
---  -------------------------------  ------------------------------------ 
 b)   LEI                              N/A 
---  -------------------------------  ------------------------------------ 
 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                   Ordinary shares of 0.1 pence 
       the Financial                    each in Utilitywise plc 
       instrument, type 
       of instrument 
--- 
      Identification                   GB00B6WVD707 
       code 
---  -------------------------------  ------------------------------------ 
 b)   Nature of the                    Two awards each over 350,000 
       transaction                      ordinary shares. The awards 
                                        will ordinarily vest on the 
                                        second anniversary of grant 
                                        subject to the grantee's continued 
                                        service and in respect of 
                                        one of the awards also subject 
                                        to the extent to which performance 
                                        conditions are met. The awards 
                                        are structured as nominal 
                                        cost options. 
---  -------------------------------  ------------------------------------ 
 c)   Price(s) and                     N/A 
       volume(s) 
---  -------------------------------  ------------------------------------ 
 d)   Aggregated information:          Awards over a total of 700,000 
                                        ordinary shares of 0.1p each 
                                        in the capital of Utilitywise 
                                        plc 
---  -------------------------------  ------------------------------------ 
 e)   Date of the transaction          21 October 2016 
---  -------------------------------  ------------------------------------ 
 f)   Place of the                     Outside a trading venue 
       transaction 
---  -------------------------------  ------------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 21, 2016 04:50 ET (08:50 GMT)