8 December 2021

eEnergy Group plc

("eEnergy" or "the Company")

Award of Options and PDMR Transactions

eEnergy (AIM: EAAS), a leading Energy Efficiency-as-a-Service and Energy Management-as-a-Service business in the UK and Ireland, announces that further to the announcement on 14 June 2021, the Remuneration Committee of the Board has approved the award of options to the executive management team over a total of 14,325,000 ordinary shares of £0.03 each in the capital of the Company (the "Options"). The Company consulted with its leading institutional investors prior to making these awards ("Institutional Investors") and the feedback from the investors has been reflected in the structure of the Option awards.

The Option awards have been made to incentivise and align the wider management team of the business to help drive shareholder value over the longer term.  The awards have been structured primarily to qualify for the tax advantaged Enterprise Management Incentive ("EMI Share Options"), but also with non-advantaged share option awards alongside. The awards have been made under the Company's existing Management Incentive Plan ("MIP"), as announced on 8 July 2020.

At the time of the Company's admission to AIM in January 2020, the Board made a commitment that the maximum dilution for existing shareholders by the MIP to management and staff would not exceed 15%.  Following feedback from the Institutional Investors, the Board will not increase the size of the pool of shares available for share based incentives as further shares are issued by the Company until the maximum potential dilution for existing shareholders has fallen to 10%, in-line with the Investment Association's Principles of Remuneration. As a result of these Option awards, the maximum dilution for existing shareholders should all of the MIP awards be exercised in full would be 14.06%.

The option awards are designed to retain the key management team that the Company has brought together. With the exception of Crispin Goldsmith*, the Options are being granted with an exercise price at nominal value, but with various vesting criteria over a three-year term, as follows:

·   1/3rd with an exercise condition of the share price being above 24p at vesting;

·   1/3rd with an exercise condition of the share price being above 20p at vesting; and

·   1/3rd with no exercise price condition

The awards of Options to executives who are Persons Discharging Managerial Responsibilities are as follows:

* Crispin Goldsmith joined the Company to lead the M&A activities in August 2020 (when the average daily share price for the month was c.7p).  The planned awards reflect Crispin's service over the past 15 months, including contribution to growth in the business during that time, and therefore he will be awarded 2/3rd of his options with an exercise price condition of 15p and 1/3rd with no exercise price condition.

For further information, please visit www.eenergyplc.com or contact:

About eEnergy Group plc

eEnergy Group plc is an integrated energy services company, enabling organisations to transition to 'Net Zero' through "Energy-as-a-Service". The Group offers:

·    Energy Management as-a-Service; providing energy measurement, monitoring and analytics on top of core "Zero Carbon" procurement services;

·    Energy Efficiency as-a-Service; zero upfront capital, energy reduction solutions through measured savings contracts including its LED businesses; and

·    Enhanced customer value proposition through data gathered and analysed with its proprietary MY ZeERO intelligent analytics platform.

eEnergy was admitted to AIM in January 2020 with a strategy to use its market leading eLight "Light as-a-Service" business as the foundation to expand eEnergy as a broader energy services company via a 'Buy & Build' strategy. The Group has completed four transactions since admission, building a Top 5 energy management business in the UK and acquiring proprietary smart metering and analytics capability through the investment in MY ZeERO. The Board's strategy continues to be to build a broader energy services company through acquisition with a particular focus on energy efficiency related capabilities and technologies. The market in the EU for energy efficiency services was approximately €25 billion in 2017 and is expected to double by 2025.

eEnergy has been awarded The Green Economy Mark by the London Stock Exchange, which recognises a company's work on sustainability.
 

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