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20 Jan 2015 07:00
20 January 2015
FULCRUM UTILITY SERVICES LIMITED
Share Option Awards
Fulcrum Utility Services Limited (the "Company") is pleased to announce the following details of the grant of new share options.
The following approved options were granted on 19 January 2015 under the Fulcrum Utility Services Limited Enterprise Management Incentive ("EMI") share option plan:
Name and position | EMI share options granted | Total number of EMI options held post grant |
Martin Harrison Chief Financial Officer | 3,000,000 | 3,000,000 |
All other qualifying staff | 2,006,335 | 2,006,335 |
The exercise price for the 19 January 2015 awards is 7.75p, which is equal to the closing price as at the 16 January 2015. The share options will vest in the event that the Fulcrum Utility Services Limited share price averages 12.75p over any period of 20 consecutive working days within a 24 month period beginning on 19 January 2015 and ending on 18 January 2017. Once vested, the share options can be exercised at anytime up to and including 18 January 2018. If the Fulcrum Utility Services Limited share price does not average 12.75p over any period of 20 consecutive working days within a 24 month period beginning on 19 January 2015 and ending on 18 January 2017, the share options will lapse.
The total number of share options granted of 5,006,335 shares represents 3.24% of the total ordinary share capital currently in issue of 154,306,667.
Martin Harrison has no interest in ordinary shares or options over ordinary shares in Fulcrum other than as disclosed above.
Enquiries:
Fulcrum Utility Services Limited Craig Baugh, Head of Marketing and Communications
Cenkos Securities plc (Nominated adviser and broker) Max Hartley (Nomad) / Oliver Baxendale (Sales)
Instinctif (PR advisers) Ross Gillam
| +44 (0)114 280 4150
+44 (0)20 7397 8900
+44 (0)20 7457 2020 |
Notes to Editor
Fulcrum is an energy solutions company based in Sheffield, UK. The Company's primary business is the provision of unregulated utility connection services to the residential, commercial and industrial markets throughout the UK. These range from the design, installation or alteration of connections for single site properties to large complex multi-site projects. Through its subsidiary, Fulcrum Pipelines Limited, Fulcrum is also licensed as an Independent Gas Transporter, operating gas connection pipelines that connect properties to the main UK gas network.
http://www.fulcrum.co.uk/
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