REG - Staffline Group PLC - Grant of Options under 2024 LTIP
29/01/2024 08:30
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RNS Number : 2041B Staffline Group PLC 29 January 2024
29 January 2024
Staffline Group plc
("Staffline", the "Company" or the "Group")
Grant of Options under 2024 Long-Term Incentive Plan
Staffline, the recruitment and training group, announces that, under the terms
of the Company's 2024 long term incentive plan (the "2024 LTIP"), the Board
has approved the award of and granted nil cost options (the "Options") over
7,375,817 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 2026. 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 underlying
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 26 January 2027 (the "Vesting Period") and will be
exercisable until 26 January 2034.
The Options awarded to PDMRs are set out in the table below.
Director/ PDMR Position Options granted
Albert Ellis Chief Executive Officer 2,096,950
Daniel Quint Chief Financial Officer 1,715,686
Martina McKenzie MD Recruitment Ireland 680,828
Frank Atkinson MD Recruitment GB 680,828
Kenny Boyle MD PeoplePlus 517,429
Following the grant, the total number of Options over Ordinary Shares under
the 2024 LTIP is 7,375,817 representing 4.94% 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
Richard Lindley / Satbir Kler
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 / Verity Snow
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
About Staffline - Recruitment, Training and Support
Enabling the Future of Work™
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.31,000 staff per day on average from around 400 sites, across a wide range
of industries including 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 and ten onsite
customer locations, supplying c.4,500 staff per day on average, and offering
RPO, MSP, temporary and permanent solutions across the island of Ireland.
PeoplePlus Division
Staffline is the leading adult skills and training provider in the UK,
delivering adult education, prison education and skills-based employability
programmes across the country.
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 2,096,950
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 26 January 2024
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 1,715,686
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 26 January 2024
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 680,828
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 26 January 2024
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 680,828
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 26 January 2024
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 517,429
d) Aggregated information
- Aggregated volume N/A
- Price
e) Date of the transaction 26 January 2024
f) Place of the transaction Outside a trading venue
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