26 Jun 2019 15:58
26 June 2019
StatPro Group plc
Director/PDMR - Interest in shares
StatPro Group plc, (AIM:SOG, "StatPro", "the Company"), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, announces that following the approval by the shareholders at the Annual General meeting on 23 May 2019 of the Growth Share Plan and a recommendation of the Remuneration Committee of the Board, the following Growth Shares have been subscribed for on 25 June 2019 by members of the management team. The values per Growth Share have been determined by an independent valuation expert.
The Growth Share Plan
The Growth Share Plan has been designed to attract and retain senior members of the Company and align their interests with those of the shareholders over a period of three to five years. The Growth Share Plan sits alongside the Company's Performance Share Plan ("PSP"), and participants are given the choice to participate either in the Growth Share Plan or in the PSP. If a participant chooses to accept an award under the Growth Share Plan, he/she will not receive any further award either under the PSP or the Growth Share Plan in the following three years.
Awards under the Growth Share Plan are made by the issue to participants of a certain number of three new classes of shares, each having a hurdle to meet which corresponds to a predetermined price at which the Company's ordinary shares would need to be traded for a period of 20 consecutive dealing days during a specified performance period (3 to 5 years from the date of the award).
The Growth Shares are not quoted on AIM or any other exchange. They do not have any voting rights or rights to receive dividends. On and following the reaching or exceeding of the hurdle within the performance period, the Growth Shares will be regarded as vested and inherently accrue value. Immediately following the end of the performance period, the vested Growth Shares will convert into ordinary shares on a 'one for one' basis, which will be admitted to trading on AIM.
The mid-market closing price of StatPro's ordinary shares on the day prior to the date of the awards was 134.5p. Therefore, the hurdle prices for the Growth Shares are as follows:
Class of Growth Share | Hurdle % | Hurdle price (p) | Performance period | Subscription price per share (p) |
A ordinary shares | 70% | 229 | 3 years | 16.8 |
B ordinary shares | 100% | 269 | 4 years | 12.5 |
C ordinary shares | 130% | 309 | 5 years | 10.6 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name
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2
| Reason for the notification Subscription of Growth Shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
a)
| Position/status
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b)
| Initial notification /Amendment
| Initial | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name
| StatPro Group PLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
b)
| LEI
| 213800IQAQ19RDQT9I51 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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
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a)
| Description of the financial instrument, type of instrument
Identification code
| A ordinary shares, B ordinary shares and C ordinary shares
GB0006300213 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
b)
| Nature of the transaction
| Subscription of shares under Growth Share Plan. If performance relevant hurdles are met, each Growth Share will be convertible into one StatPro Group plc ordinary share at the end of the relevant performance period for each class of shares.
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c)
| Price(s) and volume(s)
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d)
| Aggregated information
- Aggregated volume
- Price
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e)
| Date of the transaction
| 25 June 2019
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f)
| Place of the transaction
| N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The above notifications are made in accordance with the requirements of the EU Market Abuse Regulation.
Enquiries:
StatPro Group plc | |||
Justin Wheatley, Chief Executive | +44 (0) 20 8410 9876 |
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Andrew Fabian, Finance Director |
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Panmure Gordon - Nomad and Broker |
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Corporate Finance - Freddy Crossley / Fabien Holler | +44 (0) 20 7886 2500 |
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Corporate Broking - James Stearns |
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Instinctif Partners |
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Adrian Duffield/Kay Larsen/Chantal Woolcock | +44 (0) 20 7457 2020 |
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About StatPro
StatPro Group (www.statpro.com) provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers.
The Group has 10 offices in Europe, North America, South Africa and Australia, servicing around 500 clients in 40 countries. It is organised into three divisions: Revolution, Source: StatPro and Infovest.
Revolution is a global provider of award-winning portfolio analytics solutions. The cloud-based platform offers vital analysis of portfolio performance, attribution, risk and compliance. Revolution helps clients reduce costs, improve client communication and control investment decisions.
Source: StatPro is a global market data business and provides Data-as-a-Service to Revolution to enable analytics. The division's integrated and global data coverage includes millions of securities covering the full range of financial instruments and benchmarks.
Infovest, supplies data management solutions for the global asset management market, including data warehouse technology, ETL, compliance and reporting tools as well as portfolio management solutions.
StatPro Group plc shares are listed on AIM.