Discretionary Share Incentive Plan & 2022 Awards

RNS Number : 6088J

Equals Group PLC

14 December 2022

 

For immediate release

14 December 2022

Equals Group plc

('Equals', the 'Group' or the 'Company')

Discretionary Share Incentive Plan and 2022 Awards

Equals Group plc (AIM:EQLS), the fast-growing payments group focused on the SME marketplace,announces further awards under its Discretionary Share Incentive plans comprising the grant of Share Incentive Plan ('SIP') for all eligible employees of the Company concurrently with a discretionary Long-Term Incentive Plan ('LTIP') for senior employees and two executive directors.

In common with many businesses, the Group faces continued challenges to not only recruit but also retain high-quality talent across all its operations.  Accordingly, the further following awards are being made under the SIP and LTIP as announced previously in October 2021.

Share Incentive Plan ('SIP')

In keeping with 2021 award, the Group will grant an award with a value equivalent to 4,000 new ordinary shares in the capital of the Company ('Ordinary Shares') to all 196 employees of the Group who have one year's service or more as of 14 December 2022 (being the date of grant), in the form of a SIP Free Shares award.  The valuation of the Ordinary Shares granted will be the market closing price on the dealing day prior to the award.  There are no performance conditions and no purchase price.  The award is subject to a three-year holding period in the SIP Trust.  Staff who leave employment before the end of the holding period will lose their award, subject to certain limited 'good leaver' conditions.

Discretionary Long-Term Incentive Plan ('LTIP')

The LTIP, which was announced by the Group on 18 October 2021, detailed that grants were made for senior employees without performance conditions and that grants were also made to two executive directors with performance conditions.

The Group is now making further awards under this LTIP to 44 senior employees and two executive directors. All of these new awards will incorporate performance conditions.

The shares will vest on the third anniversary of the grant of the award, subject to the satisfaction of the pre-determined performance conditions and such vested shares will be subject to a two-year holding period thereafter.  The total target award level is up to 3,182,500 Ordinary Shares.  The exact award level will be determined on a sliding scale dependent on performance relative to CAGR targets for revenue and EPS, KPI's for customer quality and ESG and the same minimum share price threshold as 2021 awards, being 80 pence.  Participants who leave employment before vesting will lose their award, subject to certain limited 'good leaver' conditions.

Set out below is a table of grants under the Plan to certain Directors and persons discharging managerial responsibilities ('PDMRs').

PERSON	JOB TITLE	LTIP*	SIP	TOTAL
Ian Strafford-Taylor	Chief Executive Officer	637,500	4,000	641,500
Richard Cooper	Chief Financial Officer	375,000	4,000	379,000
Jack Bryant	Director - Operations	50,000	4,000	54,000
Matthijs Boon	Chief Operations Officer	175,000	4,000	179,000
Simon England	Chief Infrastructure Officer	175,000	4,000	179,000
Shona Kerfoot	Chief People Officer	100,000	4,000	104,000
Darren Kilner	Director - Dealing	100,000	4,000	104,000
Thomas Kiddle	Chief Commercial Officer	200,000	-	200,000
Stephen Paul	Director - Finance	80,000	4,000	84,000
Andrew Phillips	Chief Technology Officer	175,000	4,000	179,000
James Simcox	Chief Product Officer	200,000	4,000	204,000

*award dependent on performance criteria

Further details are available in the Company's 2021 Annual Report available from the Company's website at www.equalsplc.com

ADDITIONAL TECHNICAL DISCLOSURES

The following disclosure are made in accordance with Article 19 of the EU Market Abuse Regulations 596/2014:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ian Strafford-Taylor
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	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	637,500 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Cooper
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	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	375,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Phillips
2	Reason for the notification
a)	Position/status	Chief Technology Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	175,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Matthijs Boon
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	175,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon England
2	Reason for the notification
a)	Position/status	Chief Infrastructure Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	175,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Simcox
2	Reason for the notification
a)	Position/status	Chief Product Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	200,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jack Bryant
2	Reason for the notification
a)	Position/status	Director - Operations
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	50,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Paul
2	Reason for the notification
a)	Position/status	Director - Finance
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	80,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Thomas Kiddle
2	Reason for the notification
a)	Position/status	Chief Commercial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	200,000 options over Ordinary Shares at nil pence (being the LTIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Darren Kilner
2	Reason for the notification
a)	Position/status	Director - Dealing
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	100,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Shona Kerfoot
2	Reason for the notification
a)	Position/status	Chief People Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Equals Group plc
b)	LEI	213800CPI5S2GYB3RI27
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	Options over Ordinary Shares of £0.01 each Issue of Ordinary Shares of £0.01 each ISIN: GB00BLS0XX25
b)	Nature of the transaction	Grant of options Issue or Ordinary Shares
c)	Price(s) and volume(s)	100,000 options over Ordinary Shares at nil pence (being the LTIP grant) 4,000 Ordinary Shares at nil pence (being the SIP grant)
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	14 December 2022 14 December 2022
f)	Place of the transaction	London Stock Exchange, AIM

- Ends -

For more information, please contact:

Equals Group plc
Ian Strafford-Taylor, CEO Richard Cooper, CFO	Tel: [phone] www.equalsplc.com
Canaccord Genuity (Nominated Adviser / Broker)
Max Hartley / Harry Rees	Tel: [phone]
Buchanan (Financial Communications)
Henry Harrison-Topham / Toto Berger [e-mail]	Tel: [phone] www.buchanan.uk.com

Notes to Editors:

Equals Group is a technology-led international payments group augmented by highly personalised service for the payment needs of SME's whether these be FX, card payments or via Faster Payments. Founded in 2007, the Group listed on AIM in 2014 and currently employs around 285 staff across sites in London and Chester.  For more information, please visit www.equalsplc.com .

 

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