Forward Partners Grp - Establishment of LTIP and Grant of Options
06/01/2022 09:32
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RNS Number : 6393X Forward Partners Group PLC 06 January 2022
Forward Partners Group plc
("Forward Partners" or the "Company")
Establishment of LTIP and Grant of Options
Forward Partners, the London-based investment firm specialising in supporting
high growth, early-stage technology businesses, announces the following in
connection with the establishment of a new long-term incentive plan (the
"LTIP") and the grant of options pursuant to the LTIP.
The Board recognises the importance of long-term equity incentive schemes as a
means to incentivise the Company's executive management and ensure alignment
with the objectives of the Group. It is intended that options granted pursuant
to the LTIP will vest subject to performance conditions linked to shareholder
returns and target portfolio exits.
The Company confirms that following establishment of the LTIP, it has granted
323,318 Options to Nic Brisbourne, CEO of the Company. The Options have a
six-year life and are exercisable at nominal value. Tiered vesting of the
Options will be based on the achievement of performance conditions by 19 July
2024.
FORWARD PARTNERS GROUP PLC Via Maitland/AMO
Nic Brisbourne, Chief Executive Officer
Liberum Capital Limited Tel: +44 20 3100 2222
(Nominated Adviser and Broker)
Neil Patel
Lauren Kettle
Edward Phillips
Cara Murphy
Maitland/AMO (Public Relations) forwardpartners@maitland.co.uk
Sam Turvey
Kate Pledger
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.
Notes to editors:
About Forward Partners
Founded in 2013, Forward Partners is an established and respected London-based
investor, specialising in supporting high growth, early-stage technology
businesses.
The Group brings together venture capital provider Forward Ventures,
equity-free revenue-based financing through Forward Advances and highly
specialised growth support from Forward Studio. This model supports founders
to build stronger businesses faster to provide better outcomes for companies
and investors alike.
The Group makes equity investments in early-stage, high growth UK companies,
and from inception to its admission to London's AIM market in July 2021 had
made over 60 unique investments and built a portfolio with an Initial
Portfolio NAV in excess of £100m. It holds an eight-year track record of
making venture capital investments, and targets underlying NAV growth of 20%
per annum over the cycle.
The management team brings together highly experienced venture capitalists,
entrepreneurs, and expert consultants. Since 2015, Forward Partners has been
backed by BlackRock, one of the largest institutional investors in the world.
The Group receives over 4,000 start-up funding applications every year.
For more information, visit https://forwardpartners.com
(https://forwardpartners.com/) .
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nic Brisbourne
2 Reason for the notification
a) Position/status CEO
b) Initial notification/Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Forward Partners Group plc
b) LEI 213800G3LF6776Y7IY64
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 one penny each
Identification code GB00BKPGBB09
b) Nature of the transaction Grant of options over ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1 pence 323,318
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 21 December 2021
f) Place of the transaction Off-market transaction
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