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13 Aug 2021 13:32
13th August 2021
KINGSWOOD HOLDINGS LIMITED
("Kingswood", the "Company" or the "Group")
Long Term Incentive Plan Awards
Kingswood Holdings Limited (AIM:KWG), trading as Kingswood, the vertically integrated wealth management group, is pleased to announce a further tranche of awards under the 2021 LTIP scheme to Directors of the Company, recent senior additions to the team and select key colleagues in order to align them with the delivery of the long term goals (the "Awards"). Kingswood is committed to an employee ownership model and the granting of awards is a key part of this.
This builds on the awards issued in the 2019 LTIP scheme.
Director / PDMR awards
The following Awards under the 2021 LTIP are options over ordinary shares of the Company with an exercise price of 16.5p and were granted on 25th June 2021. The Director currently holds no other share options in the Company.
Name | Role | Number of options granted under the Award | Exercise Price(p) | Vesting Date |
David Lawrence | UK Chief Executive Officer | 5,000,000 | 16.5p | 31st December 2023 |
The Awards are subject to a three-year performance period linked to the Company's growth as measured against performance targets and are subject to clawback and malus provisions.
50% of the Awards are subject to achieving agreed annual EBITDA targets and 50% of the Awards are subject to the average market value of the shares on the day following expiry being not less than 57p.
Senior Management Awards
A further 12,500,000 Awards have been made to Senior Managers and other colleagues with a vesting date of 31st December 2023. These Awards are also subject to clawback and malus provisions.
Depending on the recipient of the awards, some are subject to EBITDA and share price performance conditions with others subject to individual portfolio targets (including Asset under Advice and Revenue).
To date, 2021 Awards total 17,500,000 shares representing 8.06% of the Company issued share capital. Total Awards (2019 and 2021 combined) totals 37,950,000 representing 17.49% of the Company issued share capital.
Acting Chairman, David Hudd commented: "These LTIP awards continue our desire to incentivise key colleagues across the group to deliver success for the group over the long-term"
1 | Details of PDMR / person closely associated | |||||
a) | Name | David Lawrence | ||||
2. | Reason for the notification | |||||
a) | Position / Status | UK CEO | ||||
b) | Initial notification / Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Kingswood Holdings Limited | ||||
b) | LEI | 213800DX97OROHY26686 | ||||
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 | Ordinary shares of 5 pence each in the Company
GG00BKY4K072 | ||||
b) | Nature of the transaction | Grant of awards under the Kingswood Holdings Limited Long Term Incentive Plan | ||||
c) | Price (pence) and volume |
| ||||
d) | Aggregated information - Aggregated volume | 5,000,000 | ||||
- Price (pence) | 16.5p | |||||
e) | Date of the transaction |
| ||||
f) | Place of the transaction | AIM | ||||
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