Grant of Options under 2023 LTIP
17 February 2023
Staffline Group plc
("Staffline", the "Company" or the "Group")
Grant of Options under 2023 Long-Term Incentive Plan
Staffline, the recruitment and training group, announces that, under the terms of the Company's 2023 long term incentive plan (the " 2023 LTIP "), the Board has approved the award of and granted nil cost options (the " Options ") over 4,709,040 ordinary shares of 10 pence each in the Company (" Ordinary Shares ") to certain employees, including persons discharging managerial responsibilities (" PDMRs "), as set out below.
The Board believes it is key that the Group retains and incentivises Executive Directors and senior employees to drive the business forward, whilst aligning their interests with those of shareholders. The Group intends to continue to fully satisfy the exercise of options through purchases of Ordinary Shares by the Employee Benefits Trust in order to limit the level of dilution experienced by existing shareholders.
The vesting of the Options is subject to the satisfaction of the Company achieving certain financial performance criteria for the financial year ending 31 December 2025. For the Executive Directors and relevant central Group senior employees the financial performance criteria are based on the Group as a whole, with 50% of the Options awarded subject to achieving earnings per share hurdles and 50% subject to achieving underlying operating profit hurdles. For senior employees operating within the divisions of the Group, their performance criteria are based 20% on the Group performance criteria, as above, and 80% on underlying operating profit hurdles relating to their own division.
The Options will vest from 14 February 2026 (the " Vesting Period ") and will be exercisable until 14 February 2033.
The Options awarded to PDMRs are set out in the table below.
|
Director/ PDMR |
Position |
Options granted |
|
Albert Ellis |
Chief Executive Officer |
1,043,485 |
|
Daniel Quint |
Chief Financial Officer |
819,881 |
|
Martina McKenzie |
MD Recruitment Ireland |
327,952 |
|
Frank Atkinson |
MD Recruitment GB |
327,952 |
|
Kenny Boyle |
MD PeoplePlus |
269,052 |
Following the grant, the total number of Options over Ordinary Shares under the 2023 LTIP is 4,709,040 representing 2.84% of the Company's issued share capital.
For further information, please contact:
|
Staffline Group plc Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer |
via Vigo Consulting |
|
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|
|
Liberum (Nominated Adviser and Broker) Richard Lindley / William Hall / Lucas Bamber |
020 3100 2222 |
|
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|
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Zeus (Joint Broker) David Foreman (Investment Banking) Nick Searle (Sales) |
020 3829 5000 |
|
|
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Vigo Consulting (Financial PR) Jeremy Garcia / Kate Kilgallen |
020 7390 0230 Staffline@vigoconsulting.com
|
Market Abuse Regulation:
For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU) 2016/1055 and the UK version of such implementing regulation, the person responsible for arranging for the release of this Announcement on behalf of the Company is Daniel Quint, Chief Financial Officer.
About Staffline
Providing workforce solutions
Staffline is the UK's market leading Recruitment and Training group. It has three divisions:
Recruitment GB
Staffline is a leading provider of flexible blue-collar workers, supplying c.37,000 staff per day on average to around 450 client sites, across a wide range of industries including agriculture, supermarkets, drinks, driving, food processing, logistics and manufacturing.
Recruitment Ireland
The Recruitment Ireland business is a leading end to end solutions provider operating across twenty industries, ten branch locations, fifteen onsite customer locations, supplying c.5,000 staff per day on average, and offering RPO, MSP, temporary and permanent solutions across the island of Ireland.
PeoplePlus Division
PeoplePlus is leading skills and employability business with a clear purpose to help people transform their lives, get jobs and keep jobs, and develop their careers. The division works with employers to develop workforces of the future, and with central, local and devolved governments to support their economic and social policy agendas.
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||
|
a) |
Name |
Albert Ellis |
|
|
|
2 |
Reason for the notification |
|||
|
a) |
Position/status
|
Chief Executive Officer |
|
|
|
b) |
Initial notification /Amendment
|
Initial notification |
|
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||
|
a)
|
Name
|
Staffline Group plc |
|
|
|
b)
|
LEI |
213800BVLF1BCOJUH828 |
|
|
|
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 10 pence each
ISIN: GB00B040L800 |
|
|
|
b)
|
Nature of the transaction
|
Grant of awards over Ordinary Shares under the Company's LTIP
|
|
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s) |
|
|
Nil
|
1,043,485
|
|
||
|
d) |
Aggregated information
- Aggregated volume
- Price |
N/A |
|
|
|
e)
|
Date of the transaction
|
14 February 2023
|
|
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Daniel Quint |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status
|
Chief Financial Officer |
|
|
b) |
Initial notification /Amendment
|
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a)
|
Name
|
Staffline Group plc |
|
|
b)
|
LEI |
213800BVLF1BCOJUH828 |
|
|
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 10 pence each
ISIN: GB00B040L800 |
|
|
b)
|
Nature of the transaction
|
Grant of awards over Ordinary Shares under the Company's LTIP |
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s) |
|
Nil
|
819,881
|
||
|
d) |
Aggregated information
- Aggregated volume
- Price |
N/A |
|
|
e)
|
Date of the transaction
|
14 February 2023
|
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Martina McKenzie |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status
|
MD Recruitment Ireland |
|
|
b) |
Initial notification /Amendment
|
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a)
|
Name
|
Staffline Group plc |
|
|
b)
|
LEI |
213800BVLF1BCOJUH828 |
|
|
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 10 pence each
ISIN: GB00B040L800 |
|
|
b)
|
Nature of the transaction
|
Grant of Options to purchase Ordinary Shares of 10 pence each under the Staffline Group
|
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s) |
|
Nil
|
327,952 |
||
|
d) |
Aggregated information
- Aggregated volume
- Price |
N/A |
|
|
e)
|
Date of the transaction
|
14 February 2023 |
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Frank Atkinson |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status
|
MD Recruitment GB |
|
|
b) |
Initial notification /Amendment
|
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a)
|
Name
|
Staffline Group plc |
|
|
b)
|
LEI |
213800BVLF1BCOJUH828 |
|
|
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 10 pence each
ISIN: GB00B040L800 |
|
|
b)
|
Nature of the transaction
|
Grant of awards over Ordinary Shares under the Company's LTIP |
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s) |
|
Nil
|
327,952 |
||
|
d) |
Aggregated information
- Aggregated volume
- Price |
N/A |
|
|
e)
|
Date of the transaction
|
14 February 2023 |
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Kenny Boyle |
|
|
2 |
Reason for the notification |
||
|
a) |
Position/status
|
MD - PeoplePlus |
|
|
b) |
Initial notification /Amendment
|
Initial notification |
|
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||
|
a)
|
Name
|
Staffline Group plc |
|
|
b)
|
LEI |
213800BVLF1BCOJUH828 |
|
|
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 10 pence each
ISIN: GB00B040L800 |
|
|
b)
|
Nature of the transaction
|
Grant of awards over Ordinary Shares under the Company's LTIP |
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s) |
|
Nil
|
269,052 |
||
|
d) |
Aggregated information
- Aggregated volume
- Price |
N/A |
|
|
e)
|
Date of the transaction
|
14 February 2023 |
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
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