Regulatory News
EQLS - Grant of LTIP Awards and PDMR Dealings
06 November 2023
Grant of LTIP Awards and PDMR Dealings
Equals Group plc (AIM:EQLS), the fast-growing payments group focused on the SME marketplace, announces awards over 2,600,000 ordinary shares of £0.01 each were made under its Discretionary Long-Term Incentive Plan ('LTIP'). Equals also announces that further awards under its Share Incentive Plan ('SIP') will be made to eligible staff in respect of a maximum of 300,000 ordinary shares in total, and announced to staff on 6 November 2023, subject to a 25 day opt-out period giving a grant date of 4 December 2023.
Discretionary Long-Term Incentive Plan ('LTIP')
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 LTIP, providing certain performance conditions are achieved, as announced previously in October 2021. Grants were also made on 18 October 2021 and 14 December 2022.
The awards vest on the third anniversary of the grant, 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 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 a minimum share price threshold of 85.6 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 LTIP to certain Directors and persons discharging managerial responsibilities ('PDMRs'). Other senior managers (who are not PDMRs) have also been awarded in aggregate 890,000 ordinary shares under the LTIP.
PERSON | JOB TITLE | NUMBER OF SHARES UNDER AWARDS |
Ian Strafford-Taylor | Chief Executive Officer | 550,000 |
Richard Cooper | Chief Financial Officer | 300,000 |
Jack Bryant | Director - Operations | 30,000 |
Matthijs Boon | Chief Operations Officer | 120,000 |
Simon England | Chief Infrastructure Officer | 70,000 |
Shona Kerfoot | Chief People Officer | 100,000 |
Darren Kilner | Director - Dealing | 70,000 |
Thomas Kiddle | Chief Commercial Officer | 110,000 |
Stephen Paul | Deputy CFO | 100,000 |
Andrew Phillips | Chief Technology Officer | 110,000 |
James Simcox | Chief Product Officer | 150,000 |
For more information, please contact:
Equals Group plc | |
Ian Strafford-Taylor, CEO Richard Cooper, CFO | Tel: +44 (0) 20 7778 9308
|
Canaccord Genuity (Nominated Adviser & Joint Broker) | |
Max Hartley / Harry Rees | Tel: +44 (0) 20 7523 8150
|
Peel Hunt LLP (Joint Broker) | |
Paul Shackleton / John Welch | Tel: +44 (0) 20 7418 8900 |
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 380 staff across sites in London, Chester, Brussels and Amsterdam. For more information, please visit 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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 550,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 550,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 300,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 300,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 110,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 110,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 120,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 120,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 70,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 70,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 150,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 150,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 30,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 30,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Stephen Paul |
2 | Reason for the notification | |
a) | Position/status | Deputy CFO |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 100,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 100,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 110,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 110,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 70,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 70,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
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 |
b) | Nature of the transaction | Award of shares under 2021 Discretionary Incentive Plan |
c) | Price(s) and volume(s) | 100,000 options over Ordinary Shares at nil pence (being the LTIP grant) |
d) | Aggregated information | 100,000 Nil |
e) | Date of the transaction | 3 November 2023 |
f) | Place of the transaction | Outside a trading venue |
BROWSE