REG - Alpha Fin. Markets - Grant of incentive awards, new shares and TVR

Alpha Financial Markets ConsultingAnnouncement

05/07/2023 07:00

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RNS Number : 9790E  Alpha Fin Markets Consulting plc  05 July 2023

5 July 2023

 

Alpha Financial Markets Consulting plc

('Alpha FMC', 'Alpha', the 'Company' or 'Group')

Issue of new shares, grant of incentive awards, PDMR dealing

and total voting rights

 

Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy
services to the asset management, wealth management and insurance industries,
announces that the Company has made a grant of staff incentive awards under
the Company's Management Incentive Plan ("MIP").

On 4 July 2023, the Company granted 2,729,582 awards under its MIP to its
management team globally, comprising 1,197,391 UK Joint Share Ownership Plan
awards ("JSOP Shares") and 1,532,191 MIP share options ("MIP Awards").

These JSOP Shares and MIP Awards (i) have a nominal or nil consideration, (ii)
will vest after three years, (iii) have a 10-year term, and (iv) are subject
to certain individual or Group performance conditions. The performance
conditions of the MIP Awards and JSOP Shares include: (i) relevant country,
divisional or Group FY 24 budgetary performance targets, (ii) individual
sales, delivery excellence and behavioural targets (iii) total shareholder
return of a basket of comparable companies over three years, as applicable.
 

Following the 2,729,582 MIP Awards and JSOP Shares awarded on 4 July 2023, the
Company will have 11,907,505 unvested MIP and JSOP Shares outstanding in
total. The total unvested MIP options and JSOP Shares outstanding represent
approximately 9.76% of the issued share capital of the Company, of which
approximately 2.24% was awarded on 4 July 2023. Approximately 2.9m awards
granted in July 2020 will vest in late July 2023.

As set out in the Company's AIM Admission Document, no more than 10% of the
total share capital of the Company from time to time shall be subject to
unvested JSOP Shares, Options and Restricted Stock Unit ("RSU") awards that
are granted under the MIP.

Of the 4 July 2023 MIP Awards, 201,005 have been granted to Luc Baqué and
87,939 have been granted to John Paton, both persons discharging managerial
responsibilities ("PDMRs"). In addition, Luc Baqué has been granted a further
179,487 MIP awards in relation to FY 23, deferred from last year to comply
with the requirements of the French MIP rules to which he was previously
subject.

A total of 1,500,000 ordinary shares of 0.075 pence per share in the Company
("New Ordinary Shares") will be issued by the Company to the Employee Benefit
Trust ("EBT"), of which 1,197,391 will be used for the JSOP Shares and 302,609
will be held by the EBT for the satisfaction of future share option awards.
Application has been made for the New Ordinary Shares, which will rank pari
passu with the Company's existing issued Ordinary Shares, to be admitted to
trading on AIM ("Admission"). It is expected that Admission will become
effective and that trading in the New Ordinary Shares will commence on or
around 11 July 2023.

Following Admission, the total number of voting rights in the Company is
122,009,736. This figure includes the 7,509,182 Ordinary Shares currently held
in the EBT as these Ordinary Shares hold voting rights albeit the EBT does not
exercise these voting rights nor receive dividends in respect of these shares.
Therefore, currently 114,500,554 Ordinary Shares have exercisable voting
rights and the Group's earnings per share calculation excludes these 7,509,182
Ordinary Shares held by the EBT.

This figure 122,009,736 may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure and Transparency
Rules.

Following the grant of the MIP awards and Admission, Luc Baqué holds 839,678
MIP options and he and his immediate family are beneficially interested in
1,223,114 Ordinary Shares representing 1.00% of the Company's total voting
rights. Also, further to the grant of the MIP awards, John Paton holds 375,337
MIP options and JSOP Shares and he and his immediate family are beneficially
interested in 158,741 Ordinary Shares representing 0.13% of the Company's
total voting rights.

The notifications below, made in accordance with the requirements of Article
19 of the UK Market Abuse Regulation, provide additional detail.

Notification and public disclosure of transactions by persons discharging
managerial responsibilities (PDMR) and persons closely associated with them
(PCA)

 

 1     Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                         Luc Baqué
 2     Reason for the notification
 a)    Position/status                                              Chief Executive Officer
 b)    Initial notification/Amendment                               Initial Notification
 3     Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         Alpha Financial Markets Consulting plc
 b)    LEI                                                          2138003XGYCLWLC7GF39
 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  Grant of share award over Ordinary Shares of 0.075p each

Identification code

                                                                    ISIN: GB00BF16C058
 b)    Nature of the transaction                                    Share award granted under the Alpha Financial Markets Consulting plc
                                                                    Management Incentive Plan

  c)   Price and volume                                             Price  Volume
                                                                    Nil    201,005
                                                                    Nil    179,487
 d)    Aggregated information                                       As above

       Date of the transaction                                      4 July 2023
 f)    Place of the transaction                                     Outside a trading venue

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Alpha Financial Markets Consulting plc

b)

LEI

2138003XGYCLWLC7GF39

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

Grant of share award over Ordinary Shares of 0.075p each

 

ISIN: GB00BF16C058

b)

Nature of the transaction

Share award granted under the Alpha Financial Markets Consulting plc
Management Incentive Plan

 

 c)

Price and volume

 Price  Volume
 Nil    201,005
 Nil    179,487

d)

Aggregated information

As above

 

Date of the transaction

4 July 2023

f)

Place of the transaction

Outside a trading venue

 

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities (PDMR) and persons closely associated with them
(PCA)

 

 1     Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                         John Paton
 2     Reason for the notification
 a)    Position/status                                              Chief Financial Officer
 b)    Initial notification/Amendment                               Initial Notification
 3     Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         Alpha Financial Markets Consulting plc
 b)    LEI                                                          2138003XGYCLWLC7GF39
 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  Grant of share award over Ordinary shares of 0.075p each

Identification code                                         ISIN: GB00BF16C058
 b)    Nature of the transaction                                    Share award granted under the Alpha Financial Markets Consulting plc
                                                                    Management Incentive Plan
  c)   Price and volume                                             Price                    Volume
                                                                    £1 total consideration   87,939
 d)    Aggregated information                                       As above

       Date of the transaction                                      4 July 2023
 f)    Place of the transaction                                     Outside a trading venue

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Alpha Financial Markets Consulting plc

b)

LEI

2138003XGYCLWLC7GF39

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

Grant of share award over Ordinary shares of 0.075p each

ISIN: GB00BF16C058

b)

Nature of the transaction

Share award granted under the Alpha Financial Markets Consulting plc
Management Incentive Plan

 c)

Price and volume

 Price                    Volume
 £1 total consideration   87,939

d)

Aggregated information

As above

 

Date of the transaction

4 July 2023

f)

Place of the transaction

Outside a trading venue

 

 

Enquiries:

For further information, please contact:

 Alpha Financial Markets Consulting plc                            +44 (0)20 7796 9300
 Luc Baqué (Chief Executive Officer)

 John Paton (Chief Financial Officer)
 Investec Bank plc - Nominated Adviser and Joint Corporate Broker  +44 (0)20 7597 4000
 Patrick Robb

 James Rudd

 Harry Hargreaves
 Berenberg - Joint Corporate Broker                                +44 (0)20 3207 7800
 Toby Flaux

 James Thompson

 Alix Mecklenburg-Solodkoff
 Camarco - Financial PR                                            +44 (0)20 3757 4980
 Ed Gascoigne-Pees

 Phoebe Pugh
 Prism Cosec - Company Secretary                                   +44 (0)7581 053148
 Sally Chandler

 

About Alpha FMC:

 

Headquartered in the UK and quoted on the AIM of the London Stock Exchange,
Alpha is a leading global provider of specialist consultancy services to the
asset management, wealth management and insurance industries.

It has the largest dedicated team in those industries, with approximately
1,000 consultants globally, operating from 17 client-facing offices spanning
the UK, North America, Europe and APAC. Alpha has worked with all of the
world's top 20 and 80% of the world's top 50 asset managers by AUM, along with
a wide range of insurance and other buy-side firms.

 

- ENDS -

 

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