Last checked at 19 Sep 2023 14:49
19 September 2023
Mattioli Woods plc
("Mattioli Woods" or "the Company")
Grant of Options under Long Term Incentive Plan and
Notification of Transactions of Persons Discharging Managerial Responsibilities ("PDMRs")
Mattioli Woods (AIM: MTW.L), the specialist wealth and asset management business, announces the grant of 549,054 conditional share awards under the Mattioli Woods 2023 Long Term Incentive Plan ("the LTIP Awards") on 18 September 2023.
The awards grant options to participating employees with an exercise price of 1 pence ("Nominal Cost Options") over ordinary shares of 1 pence each in the Company ("Ordinary Shares"). The vesting of the LTIP Awards is subject to the achievement of corporate profitability performance targets measured over either a five-year performance period ending on 31 May 2028 ("Tranche A"), or a three-year performance period ending on 31 May 2026 ("Tranche B").
Of the above grant, the Company has granted 281,254 awards of Nominal Cost Options under Tranche B to the Company's executive directors and other PDMRs. The resulting interests of the PDMRs in Nominal Cost Options is as follows:
Name | Interest in Nominal Cost Options prior to the LTIP Awards | Number of Nominal Cost Options granted under the LTIP Awards | Interest in Nominal Cost Options following the LTIP Awards | Total Ordinary Shares held currently | Percentage of issued share capital held currently |
Ian Mattioli | 210,000 | 101,428 | 311,428 | 3,102,953 | 6.00% |
Michael Wright | 92,500 | 54,284 | 146,784 | 32,355 | 0.06% |
Ravi Tara | 77,500 | 50,109 | 127,609 | 14,641 | 0.03% |
Iain McKenzie | 75,000 | 45,933 | 120,933 | 5,655 | 0.01% |
Nathan Imlach | 90,000 | 22,500 | 112,500 | 122,853 | 0.24% |
George Houston | 28,800 | 7,000 | 35,800 | 9,154 | 0.02% |
The LTIP Awards will normally vest following the publication of the Group's audited results for the last financial year of the relevant performance period, subject to achievement of performance criteria. The Remuneration Committee have set minimum shareholding requirements for all executive directors, with the Tranche B awards considered to be a route to meet these requirements in the medium term, where relevant.
The executive directors and PDMRs now collectively hold a total 855,054 of unexercised LTIP Nominal Cost Options, of which 52,500 have vested and are capable of being exercised.
As a result of this grant, the total number of options in issue is 1,918,929, equivalent to 3.7 percent of the current issued share capital of the Company.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | 1. Ian Mattioli 2. Michael Wright 3. Ravi Tara 4. Iain McKenzie 5. Nathan Imlach 6. George Houston
| |
2 | Reason for the notification | ||
a) | Position/status
| 1. PDMR, Chief Executive Officer 2. PDMR, Deputy Chief Executive Officer 3. PDMR, Chief Financial Officer 4. PDMR, Chief Operating Officer 5. PDMR, Chief Strategic Adviser 6. PDMR, SMF 16 Compliance Oversight
| |
b) | Initial notification /Amendment
| Initial Notification
| |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a)
| Name
| Mattioli Woods plc | |
b)
| LEI
| 2138003LAM79SNI63R97 | |
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
| Options over ordinary shares
ISIN: GB00B0MT3Y97
| |
b)
| Nature of the transaction
| Issue of options over ordinary shares | |
c)
| Price(s) and volume(s)
| Exercise Price(s)
| Volume(s) |
1. 1p per ordinary share 2. 1p per ordinary share 3. 1p per ordinary share 4. 1p per ordinary share 5. 1p per ordinary share 6. 1p per ordinary share | 1. 101,428 2. 54,284 3. 50,109 4. 45,933 5. 22,500 6. 7,000
| ||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/a (Single transaction)
| |
e)
| Date of the transaction
| 1. 18 September 2023 2. 18 September 2023 3. 18 September 2023 4. 18 September 2023 5. 18 September 2023 6. 18 September 2023
| |
f)
| Place of the transaction
| Outside of a trading venue | |
- Ends -
For further information please contact:
Mattioli Woods plc |
| |
Ravi Tara, Chief Financial Officer | Tel: +44 (0) 116 240 8700 | |
www.mattioliwoods.com | ||
Canaccord Genuity Limited (Nominated Adviser and Joint Broker) |
| |
Emma Gabriel | Tel: +44 (0) 20 7523 8000 | |
Harry Pardoe | www.canaccordgenuity.com | |
Singer Capital Markets (Joint Broker) | ||
Justin McKeegan | ||
Tom Salvesen | Tel: +44 (0) 20 7496 3000 | |
Alaina Wong | www.singercm.com | |