REG - Begbies Traynor - Grant of Share Options and PDMR

Begbies TraynorAnnouncement

29/02/2024 12:30

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RNS Number : 0018F  Begbies Traynor Group PLC  29 February 2024

29 February 2024

 

Begbies Traynor Group plc

 

Grant of Share Options and Notification of Transactions of persons discharging
managerial responsibilities ("PDMRs")

 

 

Begbies Traynor Group plc ("the Company"), announces that the board has made
a grant of nominal value share options over 1,325,000 ordinary shares of 5
pence each in the Company ("Options") pursuant to the Company's Share Option
Scheme 2022. The awards vest after four years conditional on meeting financial
performance measures and are conditional on the option holder remaining with
the Company during the performance period.  Following the exercise of the
Options there is an additional two-year holding period for the shares.

 

The allocation includes awards to two of the Company's executive directors who
are classified as PDMRs, Mark Fry and Nick Taylor, who have each been granted
450,000 Options with the following performance conditions: One third of these
Options will vest in the event that the level of total shareholder return over
the four year performance period equals or exceeds the median position of the
FTSE AIM All Share Index over the same period.  The remaining two thirds of
these Options will be assessed with reference to compound annual growth in
adjusted diluted earnings per share ("EPS Growth") when measured over the same
four-year performance period, with one third of the award vesting if 5% EPS
Growth is achieved and the balance of the award vesting proportionately
between 5-15% EPS Growth.

 

The remaining Options over 425,000 ordinary shares have been granted to senior
Company employees and these have the same stretching financial performance
measures.

 

This award of Options follows the grant of similar nominal value share options
over 4,915,000 ordinary shares of 5 pence each in the Company which were
granted to members of the Company's business recovery and financial advisory
partner group in October 2023 ("Partner Options").

 

If all of the Options, together with all of the Partner Options were exercised
in full, this would represent approximately 3.92% of the Company's issued
share capital.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

 

 1    Details of the person discharging managerial responsibilities/person closely
      associated
 a)   Name                                                         1.   Mark Fry

                                                                   2.   Nick Taylor

 2    Reason for the notification
 a)   Position/status

                                                                   1.   Executive director and PDMR, Head of Business Recovery and Advisory

                                                                   2.   Executive director and PDMR, Group Finance Director

 b)   Initial notification /Amendment                              Initial Notification
 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         Begbies Traynor Group plc

 b)   LEI                                                          21380075TB4ROF7KWK30

 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  Ordinary Shares of 5 pence each

 b)   Nature of the transaction                                    Grant of share options under the Group's Share Option Scheme 2022

 c)   Price(s) and volume(s)                                        Price(s)                                  Volume(s)

      1.   0.05p per Ordinary share                                                                        1.   450,000

      2.   0.05p per Ordinary share

                                                                                                           2.   450,000

 d)   Aggregated information

      - Aggregated volume                                          N/A (Single transaction)

      - Price

 e)   Date of the transaction                                      1.   28 February 2024

                                                                   2.   28 February 2024

 f)   Place of the transaction                                     Grant of options occurred outside a trading venue

 

 

Enquiries please contact:

 

Begbies Traynor Group plc
                              0161 837 1700

Ric Traynor - Executive Chairman

Nick Taylor - Group Finance Director

 

Canaccord Genuity Limited
 
      020 7523 8350

(Nominated Adviser and Joint Broker)

Emma Gabriel / Harry Pardoe

 

Shore Capital (Joint
Broker)
           020 7408 4090

Malachy McEntyre / Mark Percy / Anita Ghanekar / James Thomas

 

MHP
 
            020 3128 8100

Reg Hoare / Katie Hunt / Charles Hirst
                                begbies@mhpgroup.com
(mailto:begbies@mhpgroup.com)

 

 

Information on Begbies Traynor Group can be accessed via the group's website
at

www.ir.begbies-traynorgroup.com

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