Long Term Incentive Plan Awards

RNS Number : 6423I

Kingswood Holdings Limited

13 August 2021

 

13^th 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 25^th 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 31^st 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	Price(s) Volume(s) 16.5p 5,000,000
d)	Aggregated information -  Aggregated volume	5,000,000
	-   Price (pence)	16.5p
e)	Date of the transaction	25/06/2021
f)	Place of the transaction	AIM

 

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