Smart Metering Systems plc (AIM: SMS.L) ("SMS" or the "Company") is pleased to announce that all resolutions put to shareholders at the General Meeting of the Company held earlier today were duly passed.
As a result, the Company will issue 21,739,131 new ordinary shares of 1p each (the "Placing Shares"). The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that trading will commence at 8.00 a.m. on 22 December 2017.
Capitalised terms not otherwise defined in the text of this Announcement have the meanings given in the Company's announcement regarding the proposed Placing released on 24 November 2017.
Alan Foy, CEO of SMS commented: "This successful placing, raising gross proceeds of £150 million for the Company, will assist with the financing of our plans to continue with the domestic smart metering rollout programme across the UK. We have broadened the institutional shareholder base of the Company and I would like to welcome new shareholders and thank existing shareholders for their support. We look forward to updating all shareholders on the Company's performance at the time of our final results, to be announced in March 2018."
For further Information:
Smart Metering Systems plc
+44 (0) 141 249 3850
Alan Foy, CEO
David Thompson, CFO
Craig McGinn, Company Secretary
Cenkos Securities PLC
+44 (0) 131 220 6939 / +44 (0) 207 397 8900
Nominated Adviser, Broker and Joint Bookrunner
Iain Macarthur / Neil McDonald
Barclays Bank PLC
+44 (0) 20 7623 2323
Neal West / Eddie Siow / Phil Drake
Macquarie Capital (Europe) Limited
+44 (0) 20 3037 2000
Ben Bailey / Alex Reynolds / Nick Stamp
+44 (0) 20 7280 5000
Emmet Walsh / Peter Nicklin / Jonathan Finn / Yuri Shakhmin
+44 (0) 20 7074 1800
Matthew Jervois / Daniel Holgersson