Smart Metering Systems plc (AIM: SMS.L) is pleased to confirm a proposed final cash dividend in respect of the year ended 31 December 2018 of 3.98p per ordinary share (2017: 3.46p), payable on 6 June 2019 to shareholders on the Company's Register of Members as at the close of business on 26 April 2019. The ex‑dividend date will be 25 April 2019.
This final dividend, together with the interim dividend of 2.00p per ordinary share (2017: 1.74p) paid on 23 November 2018, makes a total dividend of 5.98p per ordinary share for the 2018 financial year (2017: 5.20p).
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 (the "Acquisition"). Pursuant to the Share Purchase Agreement entered into between the Company and Metering 1 Limited, Bevan Butcher, David Catley and Andrew Clarke (together, the "Vendors") in respect of the Acquisition (the "SPA"), the Company has issued a total of 137,553 ordinary shares of 1p each in SMS (the "New Ordinary Shares") to certain of these Vendors in satisfaction of certain performance criteria over the three years from the date of completion of the Acquisition at a price of 602.80p per New Ordinary Share.
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 16 April 2019.
The Company has 112,685,603 ordinary shares in issue. SMS does not currently hold any shares in treasury. Accordingly, this figure of 112,685,603 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
Alan Foy, Chief Executive Officer
David Thompson, Chief Financial Officer
Craig McGinn, Company Secretary
0141 249 3850
Cenkos Securities plc
0131 220 6939 / 0207 397 8900
020 7074 1800
Notes to Editors
About Smart Metering Systems
Established in 1995, Smart Metering Systems plc, headquartered in Glasgow, installs, owns, operates and maintains gas and electricity meters on behalf of major energy companies in the UK energy and utilities market.
The SMS Asset Management business delivers long term stable income from ownership of over 3.1 million utility metering assets.
The SMS Asset Installation business installs gas and electricity meter assets for the Meter Asset Management business through engineering workforce across the UK.
The SMS Energy Management business provides energy management and consultancy services to support large blue-chip companies in the UK, through a network of offices across the UK.
The energy management and asset installation services also include infrastructure design, installation, consultancy and project management services for new gas, electricity, water and telecoms connections for licensed energy and telecoms suppliers, end consumers and the UK's licensed electricity Distribution Network Owners (DNO's).
The Company was quoted on AIM in July 2011 and is now part of the FTSE AIM 50 index. For more information on SMS please visit the Company's website: www.sms-plc.com.
About DCC (Data Communications Company)
DCC is leading the design, build, test and integration of the data and communications infrastructure to connect with the business systems of energy.
Smart DCC Ltd (DCC) operates under the Smart Meter Communication Licence which was granted by the Department of Business, Energy and Industrial Strategy (BEIS) and is regulated by Ofgem.