Smart Metering Systems PLC Board changes (5661K)
April 23 2020 - 2:01AM
UK Regulatory
TIDMSMS
RNS Number : 5661K
Smart Metering Systems PLC
23 April 2020
23 April 2020
Smart Metering Systems plc
Board changes
Smart Metering Systems plc (AIM: SMS, "SMS", "the Group"), which
installs and manages smart meters and carbon reduction assets to
facilitate effective energy management, announces that Willie
MacDiarmid, the current Non-Executive Chairman, will step down from
the Board and as Non-Executive Chairman immediately following the
Group's next Annual General Meeting (the "AGM") in June 2020, after
six years in the role.
Miriam Greenwood, the current Senior Independent Non-Executive
Director, will succeed Willie as Chairman after the AGM. Miriam has
been a Non-Executive Director of SMS since 2014.
Graeme Bissett will become the Senior Independent Non-Executive
Director after the AGM.
SMS has also appointed Jamie Richards as a Non-Executive
Director with immediate effect. Jamie will Chair the Remuneration
Committee following the AGM and will also join the Audit and Risk,
the IT, the Nominations and the newly-established Health and
Sustainability Committee. The latter committee will be chaired by
Miriam Greenwood.
Jamie is a chartered accountant and has 25 years' experience in
fund management, banking and corporate recovery with a focus on the
infrastructure and solar sector. He was a partner and head of
infrastructure at Foresight Group for 18 years. Previously, he
worked at PwC, Citibank and Macquarie, both in London and Sydney.
His other current roles are as a Non-Executive director and audit
committee chair for the investment trust US Solar Fund plc and as
alternative Chairman of the investment committee of Community Owned
Renewable Energy, an investment programme targeting UK solar farms
for community ownership.
Willie MacDiarmid , commented:
"It has been a privilege to have chaired SMS over a period of
sustained growth and this together with watching the development of
the senior team has given me great personal satisfaction. The sale
of a portfolio of our assets and the launch of an exciting
strategic path for the Group means the AGM is an appropriate time
for me to step down as Chair.
"I would like to thank Miriam, Alan and the wider Board for
their support and wish the Group continued success."
Miriam Greenwood , commented:
"On behalf of the Board and everyone at SMS, I would like to
thank Willie for his considerable contribution over the past six
years. Throughout his tenure as Chairman he has provided the Board
with wise leadership and strategic counsel.
"I would also like to welcome Jamie. He brings considerable
expertise and experience in the infrastructure and solar sectors.
It will be invaluable as we execute on our smart meter rollout
programme and, importantly, look to grow our investment in carbon
reducing assets to create value for all our stakeholders."
Enquiries:
Smart Metering Systems plc 0141 249 3850
Dilip Kejriwal, Head of Investor
Relations
Cenkos Securities plc (Joint Broker 0131 220 6939 / 020 7397
and Nomad) 8900
Neil McDonald / Pete Lynch
Investec Bank plc (Joint Broker) 020 7597 5970
Christopher Baird / Henry Reast
Instinctif Partners SMS@instinctif.com
Adrian Duffield / Kay Larsen /
Chantal Woolcock
Other Information
In relation to the appointment of Mr Richards, the Company
confirms that there is no further information to be disclosed under
paragraph (g) of Schedule 2 of the AIM Rules for Companies save as
disclosed below:
Full Name: James Craig Richards
Age: 48
Current Directorships / Partnerships: Foresight Solar Australia (UK)
Limited
US Solar Fund Plc
Directorships / Partnerships CFP 15854 Ltd
in last 5 years : Foresight Group LLP
Foresight Solar (UK Holdco) Limited
Foresight European Solar Fund CIP
GP Limited
FS Holdco Limited
FS Holdco 2 Limited
FS Debtco Limited
Isotraxal Limited
Pinecroft Corporate Services Limited
Notes to Editors
SMS plc (www.sms-plc.com) installs smart meters and data loggers
that facilitate effective energy management and a low carbon
future. Established in 1995, SMS provides a full end-to-end service
for metering financing, installation, management and maintenance,
with a highly skilled workforce and deep engineering expertise.
SMS's asset management business had 3.7million meter and data
assets under management as of 31 December 2019. SMS's smart meter
expertise also enables the Company to provide consultancy services
that allow organisations and corporates to enhance long term
efficiency and effectiveness in the management of energy.
SMS's 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 (DNOs). In addition, SMS's FlexiGrid software
controls enables installed energy storage systems, renewable energy
sources and electric vehicle charging to be fully integrated into
the UK's energy systems shaping demand to follow renewable energy
supply.
SMS employs in excess of 1,200 people across the UK who support
the installation and ongoing management of metering assets.
SMS plc is headquartered in Glasgow with 12 locations across the
UK.
SMS's shares are listed on AIM.
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END
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