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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Fulcrum Utility Services Ld | LSE:FCRM | London | Ordinary Share | KYG368851047 | ORD 0.1P (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.15 | 0.10 | 0.20 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMFCRM
RNS Number : 7021W
Fulcrum Utility Services Ltd
02 August 2018
2 August 2018
FULCRUM UTILITY SERVICES LIMITED
("Fulcrum" or the "Company")
Management Incentive Scheme
As communicated in the Company's year end results, announced on 5 June 2018, the Company has a solid and profitable foundation for further growth. The Board believes that the ongoing appropriate incentivisation of the management team through share ownership is an important factor for the future success of the Company.
The Company announces that it has granted share options to certain persons discharging managerial responsibilities (PDMRs), employees and a director. This scheme intends to align the incentives of key management with the Company's long-term growth strategy through the issuance of growth share scheme shares ("GSS Shares") in Fulcrum Group Holdings Limited, a subsidiary of the Company.
The GSS Shares have been awarded as follows.
Hot Features
Premium
Name Position Total number of GSS Shares
awarded
Director - Chief Financial
Hazel Griffiths Officer 376,923
PDMR - Chief Operating Officer
Richard Jupp - Dunamis 363,462
PDMR - Chief Operating Officer
Alan McKeating - Meters 484,615
Carly Gilchrist PDMR - Assets Director 228,846
PDMR - Director of Sales
Craig Baugh & Marketing 228,846
All other qualifying
staff 2,261,372
Total 3,944,064
Vesting conditions
There are two vesting points in the scheme and each of these have different vesting criteria:
-- Phase 1 - in order for 60% of the GSS Shares to vest, Fulcrum must achieve a share price that averages at least 100 pence over a period of 20 consecutive days and a holding period of two years following the grant must have completed.
-- Phase 2 - in order for the remaining 40% of the GSS Shares to vest, Fulcrum must achieve a share price that averages at least 130 pence over a period of 20 consecutive days and a holding period of three years following the grant must have completed.
The GSS Shares have a nominal value of GBP0.00001 pence per share and carry a put option allowing the participants to sell their shares to the Company at nominal value on achieving the share price performance hurdle and fulfilling the holding period criteria. The GSS Shares may also be converted into new ordinary shares in the Company, subject to achievement of the same performance criteria.
Template for 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 Hazel Griffiths
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Director - Chief Financial Officer
-------------------------- --------------------------------------------
b) Initial notification Initial
/ amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Fulcrum Utility Services Limited
-------------------------- --------------------------------------------
b) LEI 213800UOG45CW6KZY620
-------------------------- --------------------------------------------
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 Growth share scheme shares in subsidiary
financial instrument, of Fulcrum Utility Services Limited,
type of instrument which may be convertible into new
ordinary shares in Fulcrum Utility
Identification code Services Limited.
ISIN: KYG368851047
-------------------------- --------------------------------------------
b) Nature of the transaction Grant of growth share scheme shares
in subsidiary of Fulcrum Utility
Services Limited, which may be convertible
into new ordinary shares in Fulcrum
Utility Services Limited.
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00001 376,923
----------
-------------------------- --------------------------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
-------------------------- --------------------------------------------
e) Date of the transaction 1 August 2018
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Jupp
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status PDMR - Chief Operating Officer, Dunamis
-------------------------- --------------------------------------------
b) Initial notification Initial
/ amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Fulcrum Utility Services Limited
-------------------------- --------------------------------------------
b) LEI 213800UOG45CW6KZY620
-------------------------- --------------------------------------------
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 Growth share scheme shares in subsidiary
financial instrument, of Fulcrum Utility Services Limited,
type of instrument which may be convertible into new
ordinary shares in Fulcrum Utility
Identification code Services Limited.
ISIN: KYG368851047
-------------------------- --------------------------------------------
b) Nature of the transaction Grant of growth share scheme shares
in subsidiary of Fulcrum Utility
Services Limited, which may be convertible
into new ordinary shares in Fulcrum
Utility Services Limited.
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00001 363,462
----------
-------------------------- --------------------------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
-------------------------- --------------------------------------------
e) Date of the transaction 1 August 2018
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alan McKeating
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status PDMR - Chief Operating Officer -
Meters
-------------------------- --------------------------------------------
b) Initial notification Initial
/ amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Fulcrum Utility Services Limited
-------------------------- --------------------------------------------
b) LEI 213800UOG45CW6KZY620
-------------------------- --------------------------------------------
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 Growth share scheme shares in subsidiary
financial instrument, of Fulcrum Utility Services Limited,
type of instrument which may be convertible into new
ordinary shares in Fulcrum Utility
Identification code Services Limited.
ISIN: KYG368851047
-------------------------- --------------------------------------------
b) Nature of the transaction Grant of growth share scheme shares
in subsidiary of Fulcrum Utility
Services Limited, which may be convertible
into new ordinary shares in Fulcrum
Utility Services Limited.
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00001 484,615
----------
-------------------------- --------------------------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
-------------------------- --------------------------------------------
e) Date of the transaction 1 August 2018
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Carly Gilchrist
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status PDMR - Assets Director
-------------------------- --------------------------------------------
b) Initial notification Initial
/ amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Fulcrum Utility Services Limited
-------------------------- --------------------------------------------
b) LEI 213800UOG45CW6KZY620
-------------------------- --------------------------------------------
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 Growth share scheme shares in subsidiary
financial instrument, of Fulcrum Utility Services Limited,
type of instrument which may be convertible into new
ordinary shares in Fulcrum Utility
Identification code Services Limited.
ISIN: KYG368851047
-------------------------- --------------------------------------------
b) Nature of the transaction Grant of growth share scheme shares
in subsidiary of Fulcrum Utility
Services Limited, which may be convertible
into new ordinary shares in Fulcrum
Utility Services Limited.
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00001 228,846
----------
-------------------------- --------------------------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
-------------------------- --------------------------------------------
e) Date of the transaction 1 August 2018
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Craig Baugh
-------------------------- --------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status PDMR - Director of Sales & Marketing
-------------------------- --------------------------------------------
b) Initial notification Initial
/ amendment
-------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Fulcrum Utility Services Limited
-------------------------- --------------------------------------------
b) LEI 213800UOG45CW6KZY620
-------------------------- --------------------------------------------
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 Growth share scheme shares in subsidiary
financial instrument, of Fulcrum Utility Services Limited,
type of instrument which may be convertible into new
ordinary shares in Fulcrum Utility
Identification code Services Limited.
ISIN: KYG368851047
-------------------------- --------------------------------------------
b) Nature of the transaction Grant of growth share scheme shares
in subsidiary of Fulcrum Utility
Services Limited, which may be convertible
into new ordinary shares in Fulcrum
Utility Services Limited.
-------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.00001 228,846
----------
-------------------------- --------------------------------------------
d) Aggregated information
- Aggregated volume N/A
- Price
-------------------------- --------------------------------------------
e) Date of the transaction 1 August 2018
-------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------
Enquiries:
+44 (0)114 280
Fulcrum Utility Services Limited 4102
Hazel Griffiths (Chief Financial Officer)
Cenkos Securities plc (Nominated adviser and broker) +44 (0)20 7397
Max Hartley (Nomad) / Nick Searle (Sales) 8900
Camarco (Financial PR advisers)
Ginny Pulbrook / Tom Huddart +44(0)203 757 4992
Notes to Editors:
Fulcrum is a multi-utility infrastructure and services provider based in Sheffield, UK. The Company's primary business is the provision of utility infrastructure services to the residential, commercial and industrial markets throughout the mainland UK. These range from the design, installation or alteration of utility services for single site properties to large complex multi-site projects. Through its subsidiaries, Fulcrum Pipelines Limited and Fulcrum Electricity Assets Limited, Fulcrum is also licensed as an Independent Gas Transporter and Independent Distribution Network Operator, owning and operating gas and electrical assets that connect properties to the main UK gas and electricity networks. Fulcrum is also a meter asset manager, owning and operating meter assets across mainland UK.
In 2018, Fulcrum acquired the Dunamis Group, an electrical infrastructure services company, creating one of the UK's leading gas and electrical infrastructure services groups.
http://www.fulcrum.co.uk/
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 rns@lseg.com or visit www.rns.com.
END
DSHKMGGRVZFGRZM
(END) Dow Jones Newswires
August 02, 2018 12:57 ET (16:57 GMT)
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