Grants under LTIP and Director/PDMR shareholding

RNS Number : 1415V

Mattioli Woods PLC

31 October 2017

 

31 October 2017

Mattioli Woods plc

("Mattioli Woods" or "the Company")

Grants under Long Term Incentive Plan and Notification of Transactions of Directors/PDMRs: Correction

Further to the announcement made by Mattioli Woods on 5 September 2017 concerning conditional share awards made under the Mattioli Woods 2010 Long Term Incentive Plan ("the LTIP") to the Company's executive directors and other persons discharging managerial responsibilities ("PDMRs"), it is noted that due to a clerical error the LTIP awards made to those directors and PDMRs were overstated.  The announcement should have stated that the LTIP awards were as follows:

Name	Maximum number of Nominal Cost Options under the LTIP Awards as previously stated	Corrected maximum number of Nominal Cost Options under the LTIP Awards
Ian Mattioli	63,575	61,527
Nathan Imlach	29,860	28,898
Murray Smith	28,747	27,821
Mark Smith	25,145	24,335
Alan Fergusson	10,171	9,844
Sara Andrews	10,171	9,844
Simon Gibson	12,637	9,844

These corrections are included in the full text of the announcement below. 

Grants under Long Term Incentive Plan and Notification of Transactions of Directors / PDMRs

This announcement replaces the previous release made on 5 September 2017 under RNS number 9062P. 

As required by Article 19.3 of Regulation (EU) No. 596/2014 on market abuse, Mattioli Woods (AIM: MTW.L), the specialist wealth management and employee benefits business, announces that on 4 September 2017 the Remuneration Committee of Mattioli Woods approved conditional share awards under the Mattioli Woods 2010 Long Term Incentive Plan ("the LTIP").  The awards grant participating employees a conditional right to become entitled to options with an exercise price of 1 pence ("Nominal Cost Options") over ordinary shares of 1 pence each in the Company ("Ordinary Shares"). 

The Company has granted the following awards of Nominal Cost Options ("the LTIP Awards") to the Company's executive directors and other persons discharging managerial responsibilities ("PDMRs"):

Name	Maximum number of Nominal Cost Options under the LTIP Awards	Interest in Nominal Cost Options at 31 May 2017	Total interest in Nominal Cost Options following LTIP Awards
Ian Mattioli	61,527	148,149	209,676
Nathan Imlach	28,898	120,245	149,143
Murray Smith	27,821	102,232	130,053
Mark Smith	24,335	96,219	120,554
Alan Fergusson	9,844	51,520	61,364
Sara Andrews	9,844	3,150	12,994
Simon Gibson	9,844	-	9,844

The executive directors and PDMRs hold 122,572 of unexercised LTIP Nominal Cost Options which are capable of being exercised. 

The LTIP Awards are subject to the achievement of corporate profitability performance targets measured over a three year performance period ending on 31 May 2020.  The amounts shown above represent the maximum possible opportunity. 

The LTIP Awards will normally vest following the publication of the Company's audited results for the year ending 31 May 2020, expected to be in September 2020.

The above information is provided by the Company in accordance with its obligations under the FCA's Disclosure and Transparency Rules. 

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.   Nathan Imlach 3.   Murray Smith 4.   Mark Smith 5.   Alan Fergusson 6.   Sara Andrews 7.   Simon Gibson
2	Reason for the notification
a)	Position/status	1.  Executive director and PDMR, Chief Executive Officer 2.  Executive director and PDMR, Chief Financial Officer 3.  Executive director and PDMR, Group Managing Director 4.  PDMR, Chief Operating Officer 5.  PDMR, Managing Director Employee Benefits 6.  PDMR, Chief Business Officer 7.  PDMR, Chief Investment Officer
b)	Initial notification /Amendment	Amendment
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	Ordinary Shares of 1 pence each ISIN: GB00B0MT3Y97
b)	Nature of the transaction	Issue of Options
c)	Price(s) and volume(s)	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 7.  1p per Ordinary Share	1.  61,527 2.  28,898 3.  27,821 4.  24,335 5.  9,844 6.  9,844 7.  9,844
d)	Aggregated information - Aggregated volume - Price	N/a (Single transaction)
e)	Date of the transaction	1.   4 September 2017 2.   4 September 2017 3.   4 September 2017 4.   4 September 2017 5.   4 September 2017 6.   4 September 2017 7.   4 September 2017
f)	Place of the transaction	Outside of a trading venue

- Ends -

For further information please contact:

Mattioli Woods plc
Nathan Imlach, Chief Financial Officer	Tel: [phone]
	www.mattioliwoods.com

Canaccord Genuity Limited
Sunil Duggal	Tel: [phone]
Andrew Buchanan	www.canaccordgenuity.com

 

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