REG - Equals Group PLC - Discretionary Share Incentive Plan & 2022 Awards
14/12/2022 07:00
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RNS Number : 6088J Equals Group PLC 14 December 2022
For immediate release 14 December 2022
Equals Group plc
('Equals', the 'Group' or the 'Company')
Discretionary Share Incentive Plan and 2022 Awards
Equals Group plc (AIM:EQLS), the fast-growing payments group focused on the
SME marketplace, announces further awards under its Discretionary Share
Incentive plans comprising the grant of Share Incentive Plan ('SIP') for all
eligible employees of the Company concurrently with a discretionary Long-Term
Incentive Plan ('LTIP') for senior employees and two executive directors.
In common with many businesses, the Group faces continued challenges to not
only recruit but also retain high-quality talent across all its operations.
Accordingly, the further following awards are being made under the SIP and
LTIP as announced previously in October 2021.
Share Incentive Plan ('SIP')
In keeping with 2021 award, the Group will grant an award with a value
equivalent to 4,000 new ordinary shares in the capital of the Company
('Ordinary Shares') to all 196 employees of the Group who have one year's
service or more as of 14 December 2022 (being the date of grant), in the form
of a SIP Free Shares award. The valuation of the Ordinary Shares granted
will be the market closing price on the dealing day prior to the award.
There are no performance conditions and no purchase price. The award is
subject to a three-year holding period in the SIP Trust. Staff who leave
employment before the end of the holding period will lose their award, subject
to certain limited 'good leaver' conditions.
Discretionary Long-Term Incentive Plan ('LTIP')
The LTIP, which was announced by the Group on 18 October 2021, detailed that
grants were made for senior employees without performance conditions and that
grants were also made to two executive directors with performance conditions.
The Group is now making further awards under this LTIP to 44 senior employees
and two executive directors. All of these new awards will incorporate
performance conditions.
The shares will vest on the third anniversary of the grant of the award,
subject to the satisfaction of the pre-determined performance conditions and
such vested shares will be subject to a two-year holding period thereafter.
The total target award level is up to 3,182,500 Ordinary Shares. The exact
award level will be determined on a sliding scale dependent on performance
relative to CAGR targets for revenue and EPS, KPI's for customer quality and
ESG and the same minimum share price threshold as 2021 awards, being 80 pence.
Participants who leave employment before vesting will lose their award,
subject to certain limited 'good leaver' conditions.
Set out below is a table of grants under the Plan to certain Directors and
persons discharging managerial responsibilities ('PDMRs').
PERSON JOB TITLE LTIP* SIP TOTAL
Ian Strafford-Taylor Chief Executive Officer 637,500 4,000 641,500
Richard Cooper Chief Financial Officer 375,000 4,000 379,000
Jack Bryant Director - Operations 50,000 4,000 54,000
Matthijs Boon Chief Operations Officer 175,000 4,000 179,000
Simon England Chief Infrastructure Officer 175,000 4,000 179,000
Shona Kerfoot Chief People Officer 100,000 4,000 104,000
Darren Kilner Director - Dealing 100,000 4,000 104,000
Thomas Kiddle Chief Commercial Officer 200,000 - 200,000
Stephen Paul Director - Finance 80,000 4,000 84,000
Andrew Phillips Chief Technology Officer 175,000 4,000 179,000
James Simcox Chief Product Officer 200,000 4,000 204,000
*award dependent on performance criteria
Further details are available in the Company's 2021 Annual Report available
from the Company's website at www.equalsplc.com (http://www.equalsplc.com)
ADDITIONAL TECHNICAL DISCLOSURES
The following disclosure are made in accordance with Article 19 of the EU
Market Abuse Regulations 596/2014:
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Ian Strafford-Taylor
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 Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 637,500 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Richard Cooper
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 Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 375,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Andrew Phillips
2 Reason for the notification
a) Position/status Chief Technology Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 175,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Matthijs Boon
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 175,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Simon England
2 Reason for the notification
a) Position/status Chief Infrastructure Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 175,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Simcox
2 Reason for the notification
a) Position/status Chief Product Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 200,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Jack Bryant
2 Reason for the notification
a) Position/status Director - Operations
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 50,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Stephen Paul
2 Reason for the notification
a) Position/status Director - Finance
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 80,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Thomas Kiddle
2 Reason for the notification
a) Position/status Chief Commercial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 200,000 options over Ordinary Shares at nil pence (being the LTIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Darren Kilner
2 Reason for the notification
a) Position/status Director - Dealing
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 100,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Shona Kerfoot
2 Reason for the notification
a) Position/status Chief People Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Equals Group plc
b) LEI 213800CPI5S2GYB3RI27
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 £0.01 each
Identification code
Issue of Ordinary Shares of £0.01 each
ISIN: GB00BLS0XX25
b) Nature of the transaction Grant of options
Issue or Ordinary Shares
c) Price(s) and volume(s) 100,000 options over Ordinary Shares at nil pence (being the LTIP grant)
4,000 Ordinary Shares at nil pence (being the SIP grant)
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 14 December 2022
14 December 2022
f) Place of the transaction London Stock Exchange, AIM
- Ends -
For more information, please contact:
Equals Group plc
Ian Strafford-Taylor, CEO Tel: +44 (0) 20 7778 9308
Richard Cooper, CFO www.equalsplc.com (http://www.equalsplc.com)
Canaccord Genuity (Nominated Adviser / Broker)
Max Hartley / Harry Rees Tel: +44 (0) 20 7523 8150
Buchanan (Financial Communications)
Henry Harrison-Topham / Toto Berger Tel: +44 (0) 20 7466 5000
equals@buchanan.uk.com (mailto:equals@buchanan.uk.com) www.buchanan.uk.com (http://www.buchanan.uk.com)
Notes to Editors:
Equals Group is a technology-led international payments group augmented by
highly personalised service for the payment needs of SME's whether these be
FX, card payments or via Faster Payments. Founded in 2007, the Group listed on
AIM in 2014 and currently employs around 285 staff across sites in London and
Chester. For more information, please visit www.equalsplc.com
(http://www.equalsplc.com) .
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