REG - Cornerstone FS PLC - Grant of Options and PDMR Dealings

Cornerstone FSAnnouncement

08/03/2022 11:30

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RNS Number : 0345E  Cornerstone FS PLC  08 March 2022

8 March 2022

 

Cornerstone FS plc

("Cornerstone" or "the Company" or "the Group")

 

Grant of Options and PDMR Dealings

 

Cornerstone FS plc (AIM: CSFS), the cloud-based provider of international
payment, currency risk management and electronic account services to SMEs,
announces that, on 8 March 2022, the Company granted options over ordinary
shares of 1 penny each in the capital of the Company ("Options") to certain
Directors and a PDMR as follows:

 

 Name              Role                Number of Options granted  Options exercise price
 Julian Wheatland  CEO                 426,190                    36.15p
 Judy Happe        CFO                 127,857                    36.15p
 Jordanna Curtis   Head of Operations  114,755                    61.0p

 

The Options granted to Julian Wheatland and Judy Happe are pursuant to their
employment contracts, which were entered into respectively on 1 October and 3
November 2020, and disclosed in the Company's admission document dated 26
March 2021. As part of their remuneration, they receive an annual grant of
Options equal to 5% and 1.5% respectively of any increase in the fully diluted
capital of the Company in the 12 months immediately prior to the date of grant
and exercisable at a price equal to the average mid-market closing price of
the Company's ordinary shares on AIM over the relevant 12-month period. In
light of the Company's admission to trading on AIM on 6 April 2021, the
exercise price of this grant of Options reflects the average mid-market
closing price since admission. These Options vest as to one third on each of
the first three anniversaries of the date of grant and expire five years from
the date of grant.

 

The Options granted to Jordanna Curtis are intended to qualify as Enterprise
Management Incentive

options pursuant to the Income Tax (Earnings and Pensions) Act 2003.  They
have been granted at an exercise price equal to the price of the ordinary
shares placed during the Company's admission to AIM on 6 April 2021. These
Options vest as to one third on each of the first three anniversaries of the
date of grant and expire five years from the date of grant.

 

In addition, the Company has today granted a further 124,652 Options to other
staff members intended to qualify as Enterprise Management Incentive options
pursuant to the Income Tax (Earnings and Pensions) Act 2003.

 

  Further information please contact:

Cornerstone FS plc                         +44 (0)203 971 4865
 Julian Wheatland, Chief Executive Officer

 Judy Happe, Chief Financial Officer

 SPARK Advisory Partners Limited (Nomad)    +44 (0)203 368 3550
 Mark Brady, Neil Baldwin

 SP Angel Corporate Finance LLP (Broker)    +44 (0)203 470 0470
 Jeff Keating, Harry Davies-Ball

 Luther Pendragon (Financial PR)            +44 (0)207 618 9100
 Harry Chathli, Claire Norbury

 

About Cornerstone FS PLC

Cornerstone FS plc is a payments focused fintech business that makes managing
currency simple for SMEs. It provides international payment, currency risk
management and electronic account services using a proprietary cloud-based
multi-currency payments platform. These services are delivered directly and
via white label partners on a SaaS basis to UK-based SMEs that engage in
international trade. Cornerstone also serves some high-net worth individual
clients.

 

Headquartered in the City of London and with offices in Tunbridge Wells and
Dubai, Cornerstone is listed on AIM under the trading symbol 'CSFS'. For more
information, please visit www.cornerstonefs.com.

 

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                                                         Julian Wheatland

 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                                                         Cornerstone FS plc

 b)   LEI                                                          213800O41L2RXZ2BZ956

 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  Options over ordinary shares of 1 penny each

      Identification code                                          GB00BNG7CD28

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     36.15 pence       426,190

 d)   Aggregated information

      - Aggregated volume                                          n/a

      - Price

 e)   Date of the transaction                                      8 March 2022

 f)   Place of the transaction                                     Off market

 

 

 1    Details of the person discharging managerial responsibilities/person closely

    associated

 a)   Name                                                         Judy Happe

 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                                                         Cornerstone FS plc

 b)   LEI                                                          213800O41L2RXZ2BZ956

 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  Options over ordinary shares of 1 penny each

      Identification code                                          GB00BNG7CD28

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     36.15 pence       127,857

 d)   Aggregated information

      - Aggregated volume                                          n/a

      - Price

 e)   Date of the transaction                                      8 March 2022

 f)   Place of the transaction                                     Off market

 

 

 1    Details of the person discharging managerial responsibilities/person closely

    associated

 a)   Name                                                         Jordanna Curtis

 2    Reason for the notification

 a)   Position/status                                              Head of Operations

 b)   Initial notification/amendment                               Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Cornerstone FS plc

 b)   LEI                                                          213800O41L2RXZ2BZ956

 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  Options over ordinary shares of 1 penny each

      Identification code                                          GB00BNG7CD28

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     61.0 pence        114,755

 d)   Aggregated information

      - Aggregated volume                                          n/a

      - Price

 e)   Date of the transaction                                      8 March 2022

 f)   Place of the transaction                                     Off market

 

 

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