Fulcrum is a multi-utility infrastructure and services provider operating across the whole of mainland UK.
Fulcrum is a multi-utility infrastructure and services provider operating across the whole of mainland UK. The Group’s main business is the design, build, ownership and maintenance of energy connections and their related utility infrastructure.
The Group operates across the housing, industrial and commercial, smart metering, and utility maintenance and ownership sectors and its services range from the design, installation, modification, ownership and maintenance of utility infrastructure for projects of all sizes and complexity. Fulcrum is also a Meter Asset Manager (MAM) and Meter Operator (MOP), owning and operating meter assets across mainland UK. The business is also licensed as an Independent Gas Transporter (iGT) and Independent Distribution Network Operator (iDNO), owning and operating gas and electrical assets that connect properties to the main UK gas and electricity networks.
Fulcrum currently employs approximately 320 people (including agency staff and consultants). It operates from its head office in Sheffield, its specialist electrical division in Bury St Edmunds and satellite depots across mainland UK.
The registered office of the Company is:
Fulcrum Utility Services Limited
Registered in the Cayman Islands
Company Number FC030006
PO Box 309
UK establishment address:
2 Europa View
Sheffield Business Park
The Company's country of operation is the United Kingdom.
The Company’s shares are solely traded on the AIM Market of the London Stock Exchange (AIM) and the Company is subject to the continuing requirements of the AIM Rules. Following the changes to AIM Rule 26, from 28 September 2018, the Company is required to apply a recognised corporate governance code and report on how it complies with that code. The Board has elected to adopt the QCA Corporate Governance Code. The Board is aware of its responsibility for overall corporate governance, and for supervising the general affairs and business of the Company. We comply with the QCA Code and the Corporate Governance Statement below explains how the Company applies the principles of the QCA Code.
This statement was last updated 16 August 2021.
Read more in our Corporate Governance Statement on compliance with the QCA Corporate Governance Code.
The Board has established an Audit Committee and a Remuneration Committee with formally delegated duties and responsibilities as described below.
The company is not subject to UK City Code on Takeover & Mergers, but the Articles of Association do contain certain protections
The Chair of the Audit Committee is Dominic Lavelle, with Jeremy Brade being the other Non-Executive member. Only members of the Audit Committee are entitled to be present at meetings, but the Group’s external auditor, together with the Chief Executive and the Chief Financial Officer, are also invited to attend the meetings. Other Directors and Non-Executives may be invited to attend as appropriate.
The Chair of the Remuneration Committee is Jonathan Turner, with Jennifer Babington and Dominic Lavelle being the other Non-Executive members. The Chief Executive and other members of the Board may be invited to attend meetings of the Remuneration Committee as appropriate. The Committee meets periodically as required and is responsible for overseeing the policy regarding Executive remuneration and for approving the remuneration packages for the Group’s Executive Directors and senior management, including all personnel receiving a salary exceeding £100k per annum and/or a bonus potential of 50% of salary. It is also responsible for reviewing incentive schemes for the Group as a whole.
The Chair of the Nomination Committee is Jennifer Babington, with Jeremy Brade and Jonathan Turner being the other Non-Executive members. The Chief Executive and other members of the Board may be invited to attend meetings of the Nomination Committee as appropriate. The Committee meets periodically as required to consider the composition of the Board and to engage in succession planning. The Nomination Committee is responsible for overseeing the appointment of new Directors and for ensuring that the Board maintains an appropriate blend of experience and expertise in order that it can function effectively in achieving the Company’s objectives and overall strategy.
|Issued share capital||Number|
|Ordinary shares of 0.1 pence per share||222,117,945|
|Insofar as it is aware, the percentage of AIM securities that is not in public hands||44.32%|
There are no restrictions on the transfer of the company’s AIM securities.
*Issued share capital accurate as at 10 June 2021
The identity and percentage holdings of its significant shareholders (as at 10 June 2021)
|Name of shareholder||Number of ordinary shares||Percentage of share capital (%)|
|James Sharp & Co||39,431,562||17.75|
|Killik Asset Mgt||12,545,716||5.65|
|Hargreaves Landsdown Asset Mgt||8,879,949||4.00|
*Bayford Group and its connected parties (controlled by Jonathan Turner)