Utilitywise plc Notification of Transaction in Shares (1696N)
October 21 2016 - 3:50AM
UK Regulatory
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
END
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