Smart Metering Systems PLC Issue of Equity (8068J)
14 September 2016 - 9:15AM
UK Regulatory
TIDMSMS
RNS Number : 8068J
Smart Metering Systems PLC
14 September 2016
Smart Metering Systems plc
("SMS" or the "Company")
Issue of Equity
On 21 March 2016, the Company announced the acquisition of the
entire issue share capital of CH4 Gas Utility and Maintenance
Services Limited ("CH4"), Trojan Utilities Limited ("Trojan
Utilities"), and Qton Solutions Limited ("Qton Solutions") pursuant
to three separate share purchase agreements ("SPAs").
Agreement has now been reached with the vendors of CH4, Qton
Solutions and Trojan Utilities on completion account adjustments,
as a result of which the Company has issued a total of 285,367
ordinary shares of 1p each in SMS (the "New Ordinary Shares") at a
price of 391.775p per Ordinary Share (the "Initial Share Price").
The Initial Share Price was calculated and agreed as part of the
SPAs to be the average of the middle market quotations for an
ordinary share in the capital of the Company as shown by the daily
Official List on AIM on the 5 Business Days immediately before 18
March 2016.
Application has been made to the London Stock Exchange for the
New Ordinary Shares to be admitted to trading on AIM. It is
expected that admission to AIM of the New Ordinary Shares will
become effective and that dealings will commence on 15 September
2016.
Following the issue of the New Ordinary Shares, the Company has
89,486,693 ordinary shares in issue. SMS does not currently hold
any shares in treasury. Accordingly, this figure of 89,486,693
ordinary shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
For further information:
Smart Metering Systems
plc 0141 249 3850
Alan Foy, Chief Executive
Officer
Glen Murray, Chief Financial
Officer
0131 220 6939 / 0207 397
Cenkos Securities plc 8900
Neil McDonald
Nick Tulloch
Beth McKiernan
Kreab 020 7074 1800
Matthew Jervois
Natalie Biasin
Daniel Holgersson
This information is provided by RNS
The company news service from the London Stock Exchange
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September 14, 2016 04:15 ET (08:15 GMT)