REG - Staffline Group PLC - Grant of Options under 2023 LTIP
17/02/2023 07:00
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RNS Number : 2120Q Staffline Group PLC 17 February 2023
17 February 2023
Staffline Group plc
("Staffline", the "Company" or the "Group")
Grant of Options under 2023 Long-Term Incentive Plan
Staffline, the recruitment and training group, announces that, under the terms
of the Company's 2023 long term incentive plan (the "2023 LTIP"), the Board
has approved the award of and granted nil cost options (the "Options") over
4,709,040 ordinary shares of 10 pence each in the Company ("Ordinary Shares")
to certain employees, including persons discharging managerial
responsibilities ("PDMRs"), as set out below.
The Board believes it is key that the Group retains and incentivises Executive
Directors and senior employees to drive the business forward, whilst aligning
their interests with those of shareholders. The Group intends to continue to
fully satisfy the exercise of options through purchases of Ordinary Shares by
the Employee Benefits Trust in order to limit the level of dilution
experienced by existing shareholders.
The vesting of the Options is subject to the satisfaction of the Company
achieving certain financial performance criteria for the financial year ending
31 December 2025. For the Executive Directors and relevant central Group
senior employees the financial performance criteria are based on the Group as
a whole, with 50% of the Options awarded subject to achieving earnings per
share hurdles and 50% subject to achieving underlying operating profit
hurdles. For senior employees operating within the divisions of the Group,
their performance criteria are based 20% on the Group performance criteria, as
above, and 80% on underlying operating profit hurdles relating to their own
division.
The Options will vest from 14 February 2026 (the "Vesting Period") and will be
exercisable until 14 February 2033.
The Options awarded to PDMRs are set out in the table below.
Director/ PDMR Position Options granted
Albert Ellis Chief Executive Officer 1,043,485
Daniel Quint Chief Financial Officer 819,881
Martina McKenzie MD Recruitment Ireland 327,952
Frank Atkinson MD Recruitment GB 327,952
Kenny Boyle MD PeoplePlus 269,052
Following the grant, the total number of Options over Ordinary Shares under
the 2023 LTIP is 4,709,040 representing 2.84% of the Company's issued share
capital.
For further information, please contact:
Staffline Group plc via Vigo Consulting
www.stafflinegroupplc.co.uk (http://www.stafflinegroupplc.co.uk)
Albert Ellis, Chief Executive Officer
Daniel Quint, Chief Financial Officer
Liberum (Nominated Adviser and Broker) 020 3100 2222
www.liberum.com (http://www.liberum.com/)
Richard Lindley / William Hall / Lucas Bamber
Zeus (Joint Broker) 020 3829 5000
www.zeuscapital.co.uk (http://www.zeuscapital.co.uk)
David Foreman (Investment Banking)
Nick Searle (Sales)
Vigo Consulting (Financial PR) 020 7390 0230
www.vigoconsulting.com (http://www.vigoconsulting.com) Staffline@vigoconsulting.com
Jeremy Garcia / Kate Kilgallen
Market Abuse Regulation:
For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU)
2016/1055 and the UK version of such implementing regulation, the person
responsible for arranging for the release of this Announcement on behalf of
the Company is Daniel Quint, Chief Financial Officer.
About Staffline
Providing workforce solutions
Staffline is the UK's market leading Recruitment and Training group. It has
three divisions:
Recruitment GB
Staffline is a leading provider of flexible blue-collar workers, supplying
c.37,000 staff per day on average to around 450 client sites, across a wide
range of industries including agriculture, supermarkets, drinks, driving, food
processing, logistics and manufacturing.
Recruitment Ireland
The Recruitment Ireland business is a leading end to end solutions provider
operating across twenty industries, ten branch locations, fifteen onsite
customer locations, supplying c.5,000 staff per day on average, and offering
RPO, MSP, temporary and permanent solutions across the island of Ireland.
PeoplePlus Division
PeoplePlus is leading skills and employability business with a clear purpose
to help people transform their lives, get jobs and keep jobs, and develop
their careers. The division works with employers to develop workforces of the
future, and with central, local and devolved governments to support their
economic and social policy agendas.
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Albert Ellis
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 Staffline Group plc
b) LEI 213800BVLF1BCOJUH828
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 10 pence each
Identification code
ISIN: GB00B040L800
b) Nature of the transaction Grant of awards over Ordinary Shares under the Company's LTIP
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 1,043,485
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 14 February 2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Daniel Quint
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 Staffline Group plc
b) LEI 213800BVLF1BCOJUH828
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 10 pence each
Identification code
ISIN: GB00B040L800
b) Nature of the transaction Grant of awards over Ordinary Shares under the Company's LTIP
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 819,881
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 14 February 2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Martina McKenzie
2 Reason for the notification
a) Position/status MD Recruitment Ireland
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Staffline Group plc
b) LEI 213800BVLF1BCOJUH828
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 10 pence each
Identification code
ISIN: GB00B040L800
b) Nature of the transaction Grant of Options to purchase Ordinary Shares of 10 pence each under the
Staffline Group
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 327,952
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 14 February 2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Frank Atkinson
2 Reason for the notification
a) Position/status MD Recruitment GB
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Staffline Group plc
b) LEI 213800BVLF1BCOJUH828
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 10 pence each
Identification code
ISIN: GB00B040L800
b) Nature of the transaction Grant of awards over Ordinary Shares under the Company's LTIP
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 327,952
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 14 February 2023
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Kenny Boyle
2 Reason for the notification
a) Position/status MD - PeoplePlus
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Staffline Group plc
b) LEI 213800BVLF1BCOJUH828
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 10 pence each
Identification code
ISIN: GB00B040L800
b) Nature of the transaction Grant of awards over Ordinary Shares under the Company's LTIP
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 269,052
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 14 February 2023
f) Place of the transaction Outside a trading venue
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