Director and PDMR Shareholdings - LTIP Awards

RNS Number : 7457U

Cenkos Securities PLC

07 April 2021

 

7 April 2021

Cenkos Securities plc

("Cenkos" or the "Company")

Director and PDMR Shareholdings  - Grant of Awards

 under the Cenkos Securities plc Long Term Incentive Plan

Cenkos Securities plc announces the implementation of a new Long Term Incentive Plan ("LTIP") for certain senior employees, including Julian Morse an executive director of the Company.

Under the LTIP a number of senior employees of the Company have been granted an aggregate of 5,070,000 nil cost options over Ordinary Shares in the Company ("Awards"). The purpose of the Awards is to ensure appropriate ongoing incentivisation of the new executive management team. Julian Morse an executive director of the Company has been granted 1,460,000 Awards.

Each Award is separated into three equal tranches that will (subject to the achievement of the applicable performance conditions detailed below) vest on the third, fourth and fifth anniversaries of grant respectively.   For Julian Morse, an executive director of the Company, the Awards are subject to a further two year holding period during which any Ordinary Shares held as a result of exercise of any Award cannot be sold. The Awards are subject to malus and clawback provisions.

The vesting of the Awards is conditional on meeting a total shareholder return ("TSR") growth measurement over a three, four and five year period as detailed below:

Tranche	Measurement Period	Performance Condition	Number of Awards that vest if the Performance Condition is satisfied
Tranche 1	1 January 2021 to 31 December 2023	Tranche 1 TSR Growth is equal to or greater than 50%	Fixed number at grant equal to 33.3% of total and rounded down to the nearest whole Award
Tranche 2	1 January 2021 to 31 December 2024	Tranche 2 TSR Growth is equal to or greater than 75%	Fixed number at grant equal to 33.3% of total and rounded down to the nearest whole Award
Tranche 3	1 January 2021 to 31 December 2025	Tranche 3 TSR Growth is equal to or greater than 100%	Balance of total Awards

The grant of the Awards to Julian Morse, as an executive director of the Company, constitutes a related party transaction for the purposes of AIM Rule 13. The independent directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

The notifications below are made in accordance with the requirements of the  UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time , provide further detail.

For further information, please contract:

Cenkos Secutities plc

Jim Durkin, Chief Executive Officer  Tel: [phone]

SPARK Advisory Partners Limited

Matt Davis, Nominated Adviser Tel: [phone]

The Nisse Consultancy - Public relations

Jason Nisse  Tel: [phone]

Andrew Garfield                                                                              Tel: [phone]

NOTIFICATIONS 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	Julian Morse
2	Reason for the notification
a)	Position/status	Executive Director  - PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cenkos Securities plc
b)	LEI	213800ALVRC52VN3I821
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 1p each
	Identification code	GB00B1FLHR07
b)	Nature of the transaction	Grant of options over the ordinary share capital of the Company under the 2021 Long Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	1,460,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 April 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jeremy Osler
2	Reason for the notification
a)	Position/status	PDMR (Member of the Executive Committee)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cenkos Securities plc
b)	LEI	213800ALVRC52VN3I821
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 1p each
	Identification code	GB00B1FLHR07
b)	Nature of the transaction	Grant of options over the ordinary share capital of the Company under the 2021 Long Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	510,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 April 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Johnson
2	Reason for the notification
a)	Position/status	PDMR (Member of the Executive Committee)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cenkos Securities plc
b)	LEI	213800ALVRC52VN3I821
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 1p each
	Identification code	GB00B1FLHR07
b)	Nature of the transaction	Grant of options over the ordinary share capital of the Company under the 2021 Long Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	760,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 April 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Keys
2	Reason for the notification
a)	Position/status	PDMR (Member of the Executive Committee)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cenkos Securities plc
b)	LEI	213800ALVRC52VN3I821
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 1p each
	Identification code	GB00B1FLHR07
b)	Nature of the transaction	Grant of options over the ordinary share capital of the Company under the 2021 Long Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	660,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 April 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Will Rogers
2	Reason for the notification
a)	Position/status	PDMR (Member of the Executive Committee)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cenkos Securities plc
b)	LEI	213800ALVRC52VN3I821
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 1p each
	Identification code	GB00B1FLHR07
b)	Nature of the transaction	Grant of options over the ordinary share capital of the Company under the 2021 Long Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	120,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 April 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil McDonald
2	Reason for the notification
a)	Position/status	PDMR (Member of the Executive Committee)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cenkos Securities plc
b)	LEI	213800ALVRC52VN3I821
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 1p each
	Identification code	GB00B1FLHR07
b)	Nature of the transaction	Grant of options over the ordinary share capital of the Company under the 2021 Long Term Incentive Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	50,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	6 April 2021
f)	Place of the transaction	Outside of a trading venue

 

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