29 February 2024
Begbies Traynor Group
plc
Grant of Share Options and
Notification of Transactions of persons discharging managerial
responsibilities ("PDMRs")
Begbies Traynor Group plc ("the
Company"), announces that the board has made a grant of nominal
value share options over 1,325,000 ordinary shares of 5 pence each
in the Company ("Options") pursuant to the Company's
Share Option Scheme 2022. The
awards vest after four years conditional on meeting financial
performance measures and are conditional on the option holder
remaining with the Company during the performance period.
Following the exercise of the Options there is an additional
two-year holding period for the shares.
The allocation includes awards to
two of the Company's executive directors who are classified as
PDMRs, Mark Fry and Nick Taylor, who have each been granted 450,000
Options with the following performance conditions: One third of
these Options will vest in the event that the level of total
shareholder return over the four year performance period equals or
exceeds the median position of the FTSE AIM All Share Index over
the same period. The remaining two thirds of these Options
will be assessed with reference to compound annual growth in
adjusted diluted earnings per share ("EPS Growth") when measured
over the same four-year performance period, with one third of the
award vesting if 5% EPS Growth is achieved and the balance of the
award vesting proportionately between 5-15% EPS Growth.
The remaining Options over 425,000
ordinary shares have been granted to senior Company employees and
these have the same stretching financial performance
measures.
This award of Options follows the
grant of similar nominal value share options over 4,915,000
ordinary shares of 5 pence each in the Company which were granted
to members of the Company's business recovery and financial
advisory partner group in October 2023 ("Partner
Options").
If all of the Options, together with
all of the Partner Options were exercised in full, this would
represent approximately 3.92% of the Company's issued share
capital.
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
|
a)
|
Name
|
1. Mark Fry
2. Nick
Taylor
|
2
|
Reason for the notification
|
a)
|
Position/status
|
1. Executive director
and PDMR, Head of Business Recovery and Advisory
2. Executive director
and PDMR, Group Finance Director
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
a)
|
Name
|
Begbies Traynor Group plc
|
b)
|
LEI
|
21380075TB4ROF7KWK30
|
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
|
Ordinary Shares of 5 pence
each
|
b)
|
Nature of the transaction
|
Grant of share options under the
Group's Share Option Scheme 2022
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
1. 0.05p per Ordinary
share
2. 0.05p per Ordinary
share
|
1. 450,000
2. 450,000
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A (Single transaction)
|
e)
|
Date of the transaction
|
1. 28 February
2024
2. 28 February
2024
|
f)
|
Place of the transaction
|
Grant of options occurred outside a
trading venue
|
Enquiries please contact:
Begbies Traynor Group plc
0161 837
1700
Ric Traynor - Executive
Chairman
Nick Taylor - Group Finance
Director
Canaccord Genuity Limited
020 7523 8350
(Nominated Adviser and Joint
Broker)
Emma Gabriel / Harry
Pardoe
Shore Capital (Joint
Broker)
020 7408 4090
Malachy McEntyre / Mark Percy /
Anita Ghanekar / James Thomas
MHP
020
3128 8100
Reg Hoare / Katie Hunt / Charles
Hirst
begbies@mhpgroup.com
Information on Begbies Traynor Group
can be accessed via the group's website at
www.ir.begbies-traynorgroup.com