20/04/2018

The Company was notified on 20 April 2018 that Alan Foy, a Director and shareholder of the Company, has transferred 900,000 shares to The Metis Trust (the “Trust”), a family trust of which Mr Foy is a trustee but not a beneficiary. Following completion of the transfer, Mr Foy will retain an interest in 6,280,608 Ordinary Shares, representing approximately 5.58 per cent of the issued share capital of the Company.

Under the terms of the agreement, SMS will provide domestic smart meters as part of the UK Government programme, overseen by the Department of Business Energy and Industrial Strategy, requiring domestic energy supply companies to provide all of their customers with a smart meter in homes and small businesses across the UK by 2020.

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 

Alan Foy

2

Reason for notification

a)

Position/Status 

Director

b)

Initial notification/Amendment 

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Smart Metering Systems plc

b)

LEI 

213800FGOUFSDPE33S71

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 financial instrument, type of instrument

Identification code

Ordinary Shares of 1 pence

SMS

b)

Nature of the transaction 

Transfer of ordinary shares of 1p by way of gift for nil consideration to The Metis Trust of which Alan Foy is a trustee but not a beneficiary.

c)

Price(s) and volume(s) 

Price(s)

Volume(s)

Nil cost

900000

d)

Aggregated information

-          Aggregated volume

-          Price

 N/A

e)

Date of the transactions

  20 April 2018 

f)

Place of the transaction 

London Stock Exchange, AIM

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name 

The Metis Trust, declared as being a person closely associated with Alan Foy, who is a Director and shareholder of the Company (being a person discharging managerial responsibility) and a trustee of The Metis Trust.

2

Reason for notification

a)

Position/Status 

The Metis Trust, declared as being a person closely associated with Alan Foy, who is a Director and shareholder of the Company (being a person discharging managerial responsibility) and a trustee of The Metis Trust.

b)

Initial notification/Amendment 

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Smart Metering Systems plc

b)

LEI 

213800FGOUFSDPE33S71

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 financial instrument, type of instrument

Identification code

Ordinary Shares of 1 pence

SMS

b)

Nature of the transaction 

Transfer of ordinary shares of 1p by way of gift from Alan Foy (a Director and shareholder of the Company (therefore a person discharging managerial responsibility) and a trustee of The Metis Trust) for nil consideration to The Metis Trust.

c)

Price(s) and volume(s) 

Price(s)

Volume(s)

Nil cost

900000

d)

Aggregated information

-          Aggregated volume

-          Price

 N/A

e)

Date of the transactions 

 20 April 2018 

f)

Place of the transaction 

London Stock Exchange, AIM

For further Information:

Smart Metering Systems plc
Craig McGinn, Company Secretary
0141 249 3850

Cenkos Securities plc
Neil McDonald
Beth McKierman
0131 220 6939 / 0207 397 8900

Kreab
Matthew Jervois
Natalie Biasin
Daniel Holgersson
020 7074 1800

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