The Company announces that it has granted share options to certain persons discharging managerial responsibilities (PDMRs), employees and a director. This scheme intends to align the incentives of key management with the Company's long-term growth strategy through the issuance of growth share scheme shares (“GSS Shares”) in Fulcrum Group Holdings Limited, a subsidiary of the Company.
The GSS Shares have been awarded as follows.
|
Name |
Position |
Total number of GSS Shares awarded |
|
Hazel Griffiths |
Director – Chief Financial Officer |
376,923 |
|
Richard Jupp |
PDMR – Chief Operating Officer – Dunamis |
363,462 |
|
Alan McKeating |
PDMR – Chief Operating Officer – Meters |
484,615 |
|
Carly Gilchrist |
PDMR – Assets Director |
228,846 |
|
Craig Baugh |
PDMR – Director of Sales & Marketing |
228,846 |
|
All other qualifying staff |
|
2,261,372 |
|
Total |
|
3,944,064 |
Vesting conditions
There are two vesting points in the scheme and each of these have different vesting criteria:
· Phase 1 – in order for 60% of the GSS Shares to vest, Fulcrum must achieve a share price that averages at least 100 pence over a period of 20 consecutive days and a holding period of two years following the grant must have completed.
· Phase 2 – in order for the remaining 40% of the GSS Shares to vest, Fulcrum must achieve a share price that averages at least 130 pence over a period of 20 consecutive days and a holding period of three years following the grant must have completed.
The GSS Shares have a nominal value of £0.00001 pence per share and carry a put option allowing the participants to sell their shares to the Company at nominal value on achieving the share price performance hurdle and fulfilling the holding period criteria. The GSS Shares may also be converted into new ordinary shares in the Company, subject to achievement of the same performance criteria.
Template for 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 |
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|
a) |
Name |
Hazel Griffiths |
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|
2 |
Reason for the notification |
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|
a) |
Position/status |
Director – Chief Financial Officer |
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|
b) |
Initial notification / amendment |
Initial |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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|
a) |
Name |
Fulcrum Utility Services Limited |
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|
b) |
LEI |
213800UOG45CW6KZY620 |
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|
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 |
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|
a)
|
Description of the financial instrument, type of instrument
Identification code |
Growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
ISIN: KYG368851047 |
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|
b) |
Nature of the transaction |
Grant of growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
|
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|
c)
|
Price(s) and volume(s)
|
|
||||
|
d)
|
Aggregated information – Aggregated volume – Price |
N/A |
||||
|
e) |
Date of the transaction |
1 August 2018 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
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|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Richard Jupp |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR – Chief Operating Officer, Dunamis |
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|
b) |
Initial notification / amendment |
Initial |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Fulcrum Utility Services Limited |
||||
|
b) |
LEI |
213800UOG45CW6KZY620 |
||||
|
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 |
Growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
ISIN: KYG368851047 |
||||
|
b) |
Nature of the transaction |
Grant of growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
|
||||
|
c)
|
Price(s) and volume(s)
|
|
||||
|
d)
|
Aggregated information – Aggregated volume – Price |
N/A |
||||
|
e) |
Date of the transaction |
1 August 2018 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Alan McKeating |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR – Chief Operating Officer – Meters |
||||
|
b) |
Initial notification / amendment |
Initial |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Fulcrum Utility Services Limited |
||||
|
b) |
LEI |
213800UOG45CW6KZY620 |
||||
|
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 |
Growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
ISIN: KYG368851047 |
||||
|
b) |
Nature of the transaction |
Grant of growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
|
||||
|
c)
|
Price(s) and volume(s)
|
|
||||
|
d)
|
Aggregated information – Aggregated volume – Price |
N/A |
||||
|
e) |
Date of the transaction |
1 August 2018 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Carly Gilchrist |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR – Assets Director |
||||
|
b) |
Initial notification / amendment |
Initial |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Fulcrum Utility Services Limited |
||||
|
b) |
LEI |
213800UOG45CW6KZY620 |
||||
|
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 |
Growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
ISIN: KYG368851047 |
||||
|
b) |
Nature of the transaction |
Grant of growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
|
||||
|
c)
|
Price(s) and volume(s)
|
|
||||
|
d)
|
Aggregated information – Aggregated volume – Price |
N/A |
||||
|
e) |
Date of the transaction |
1 August 2018 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Craig Baugh |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR – Director of Sales & Marketing |
||||
|
b) |
Initial notification / amendment |
Initial |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Fulcrum Utility Services Limited |
||||
|
b) |
LEI |
213800UOG45CW6KZY620 |
||||
|
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 |
Growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
ISIN: KYG368851047 |
||||
|
b) |
Nature of the transaction |
Grant of growth share scheme shares in subsidiary of Fulcrum Utility Services Limited, which may be convertible into new ordinary shares in Fulcrum Utility Services Limited.
|
||||
|
c)
|
Price(s) and volume(s)
|
|
||||
|
d)
|
Aggregated information – Aggregated volume – Price |
N/A |
||||
|
e) |
Date of the transaction |
1 August 2018 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
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