Last checked at 15 Oct 2020 07:00
15 October 2020
Alpha Financial Markets Consulting plc
('Alpha FMC', 'Alpha', the 'Company' or 'Group')
Issue of new shares, vesting of incentive awards, PDMR dealing
and total voting rights
Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy services to the Asset and Wealth Management industry, announces that on 12 October 2020, certain of the Management Incentive Plan ("MIP") awards granted at the time of the October 2017 AIM admission partially vested following satisfaction of performance conditions.
The awards' performance conditions relating to EPS growth and total shareholder return exceeding a basket of comparable companies over three years to 12 October 2020 were met in full and the relevant local country or divisional budgetary performance conditions were met in full or part dependant on Alpha location. As a result, 1,812,500 nil or nominal cost awards over ordinary shares of 0.075 pence per share in the Company ("Ordinary Shares") vested.
Of these vested awards, 1,031,250 awards have been exercised. The Company will settle these exercised awards, some net settled after taxes due, by issuing 983,947 Ordinary Shares (the "New Ordinary Shares"). Application has been made for these New Ordinary Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the New Ordinary Shares will commence on or around 20 October 2020. The remaining vested award holders have a further 7-year period in which to exercise their vested awards.
Of the vested awards, 250,000 relate to awards held by Euan Fraser, a person discharging managerial responsibilities ("PDMR"), of which all have been exercised. After exercising these vested awards, Euan Fraser holds 615,637 MIP options and JSOP Shares awards and he and his immediate family are beneficially interested in 1,606,081 Ordinary Shares representing 1.58% of the Company's total voting rights.
On 14 October 2020, the Company bought back 137,482 Ordinary Shares from prior employees ("Reclaimed Shares") for nominal value. All of the Reclaimed Shares will be held in the EBT for the satisfaction of future employee awards.
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, following the above the Company has 106,521,966 Ordinary Shares in issue, of which none are held in Treasury. The total number of voting rights in the Company is 101,696,026. This figure of 101,696,026 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide additional detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities (PDMR) and persons closely associated with them (PCA) required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Euan Fraser | ||||
2 | Reason for the notification | |||||
a) | Position/status |
| ||||
b) | Initial notification/Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Alpha Financial Markets Consulting plc | ||||
b) | LEI | 2138003XGYCLWLC7GF39
| ||||
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 Identification code | Vesting and exercise of share award over Ordinary Shares of 0.075p each
ISIN: GB00BF16C058 | ||||
b) | Nature of the transaction | Share award vesting following a grant under the Alpha Financial Markets Consulting plc Management Incentive Plan
| ||||
c) | Price and volume |
| ||||
d) | Aggregated information | As above | ||||
| Date of the transaction | 13 October 2020 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
Alpha Financial Markets Consulting plc | +44 (0)20 7796 9300 |
Euan Fraser, Global Chief Executive Officer John Paton, Chief Financial Officer | |
Temple Bar Advisory (Public Relations) | |
Alex Child-Villiers | +44 (0)7795 425 580 |
William Barker | +44 (0)7827 960 151 |
Sam Livingstone | +44 (0)7769 655 437 |
Grant Thornton UK LLP (Nominated Adviser) | +44 (0)20 7383 5100 |
Philip Secrett Harrison Clarke Seamus Fricker | |
Berenberg (Broker) | +44 (0)20 3207 7800 |
Chris Bowman Toby Flaux Alix Mecklenburg-Solodkoff | |
Prism Cosec (Company Secretary) | +44 (0)7407 733 518 |
Sally Chandler |
About Alpha FMC:
Alpha FMC is a leading global provider of specialist consultancy services to the asset and wealth management industry.
With over 400 consultants across twelve offices spanning the UK, Europe, North America and Asia, Alpha FMC has the largest dedicated team in the industry. Alpha FMC has provided consultancy services to 380 clients, including 80% of the 20 largest global asset managers by AUM and a range of other buy-side firms.
- ENDS -