Long Term Incentive Plan Award

RNS Number : 9230D

Kingswood Holdings Limited

01 July 2019

 

1 July 2019

KINGSWOOD HOLDINGS LIMITED

("Kingswood", the "Company" or the "Group")

Long Term Incentive Plan Award

Kingswood Holdings Limited (AIM: KWG), trading as Kingswood, the integrated wealth management group, is pleased to announce the granting of a Long Term Incentive Plan 2019 ("2019 LTIP") award to Rob Suss, recently appointed to the Board as Non-Executive Director in order to advise the Company on the execution of its global wealth management strategy (the "Award").

The Award follows the grant of 2019 LTIP awards to other directors, members of senior management and select team members earlier this year on 18 February 2019 and 9 May 2019 in order to incentivise these individuals to reinforce shareholder value over the long term.

The Award

Mr Suss currently holds no other share options in the Company and as such the table below sets out his total holding of options over ordinary shares.

Name	Role	Number of options granted under the Award	Exercise Price (p)	Vesting Date
Rob Suss	Non-Executive Director	3,000,000	5.0	28/06/2022

In line with the other awards made to Directors, the Award is subject to a three-year performance period followed by a holding period of two years and is further subject to claw back and malus provisions. The Award are linked to the Group's growth measured against performance targets summarised below:

50 per cent of the Director Award is subject to the Group achieving the following EBITDA targets:

Performance period	EBITDA target	% of EBITDA element vesting
FY19	£2.5m	33.3
FY20	£4.0m	33.3
FY21	£5.4m	33.3

The EBITDA element of the Award is also conditional on the Company's share price being not less than 18.9 pence per share (being 200 per cent. of 20 day average closing mid price prior to the grant of the awards made to the other Directors on 9 May 2019) at the end of the three year performance period.

The remaining 50 per cent of the Award is subject to achieving the following total shareholder return ("TSR") target (20 day average closing mid price at the end of the third year adjusted for any other shareholder returns):

Performance tier	Share price at 31/12/21	% of TSR element vesting
Below threshold	<50p	0%
Threshold	50p	70%
Maximum	60p	100%
Between threshold and maximum	Between 50p and 60p	70-100% pro-rata on a straight line basis

The Award represents 1.87 per cent of the current issued share capital of the Company.

To date, including the Director Awards and awards made to senior management and other team members, a total of 39,600,000 awards have been made under the 2019 LTIP, representing 24.6% of the Company's issued share capital.

The information below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

For further details, please contact:

Kingswood Holdings Limited	[phone]
Gary Wilder / Patrick Goulding	www.kingswood-group.com
finnCap Ltd (Nomad and Broker)	[phone]
Scott Mathieson / Anthony Adams (Corporate Finance) Tim Redfern / Richard Chambers (ECM)
Greentarget (for media)	[phone]
Jamie Brownlee / Alice Gasson / Ellie Basle

About Kingswood                                       

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) integrated wealth management group, with more than 4,500 active clients and c. £2 billion of Assets under Management and Advice. It has a growing network of offices in the UK including London, Manchester, Cheltenham, Maidstone, Worcester, Beverley and Abingdon as well as an office in Johannesburg, South Africa and recently acquired a strategic stake in US-based, Manhattan Harbor.

Kingswood offers a portfolio of services to its clients, which range from private individuals to some of the UK's largest universities and institutions, including investment advice and management, personal and company pensions, wealth planning, and stockbroking. Kingswood is focused on becoming a leading player in the wealth management market through targeted acquisitions, with the ultimate goal of creating a global business through strategic partnerships.

1.	Details of the Person discharging managerial responsibilities ("PDMR") / person closely associated with them ("PCA")
a)	Name	Rob Suss
2.	Reason for the notification
a)	Position / status	Non-Executive Director
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Kingswood Holdings Limited
b)	Legal Entity Identifier	213800DX97OROHY26686
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	Options over ordinary shares of 5 pence each in the Company
b)	Nature of the transaction	Award of options under the 2019 LTIP
c)	Price(s) and volume(s)	Price(s) Volume(s) 5p 3,000,000
d)	Aggregated information -     Aggregated volume -     Aggregated price	5p exercise price
e)	Date of the transaction(s)	28 June 2019
f)	Place of the transaction	London Stock Exchange, AIM

 

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