Grant of Options and Director/PDMR Shareholding

RNS Number : 7423F

Mattioli Woods PLC

08 November 2022

 

8 November 2022

Mattioli Woods plc

("Mattioli Woods" or "the Company")

Grant of Options under Long Term Incentive Plan and

Notification of Transactions of Persons Discharging Managerial Responsibilities ("PDMRs")

As required by Article 19.3 of Regulation (EU) No. 596/2014 on market abuse, Mattioli Woods (AIM: MTW.L), the specialist wealth and asset management business, announces the grant of 450,000 conditional share awards under the Mattioli Woods 2022 Long Term Incentive Plan ("the LTIP") on 4 November 2022. 

The awards grant participating employees a conditional right to become entitled to options with an exercise price of 1 pence ("Nominal Cost Options") over ordinary shares of 1 pence each in the Company ("Ordinary Shares").  The vesting of the LTIP Awards is subject to the achievement of corporate profitability performance targets measured over either a five-year performance period ending on 31 May 2027 ("Tranche A"), or a three-year performance period ending on 31 May 2025 ("Tranche B").

Of the above grant, the Company has granted 204,000 awards of Nominal Cost Options ("the LTIP Awards") to the Company's executive directors and other persons discharging managerial responsibilities ("PDMRs").  The resulting interests of the PDMRs in Nominal Cost Options is as follows:

Name	Interest in Nominal Cost Options prior to the LTIP Awards	Number of Nominal Cost Options granted under Tranche B	Interest in Nominal Cost Options following the LTIP Awards	Total shares held	Percentage of issued share capital held
Ian Mattioli	130,000	80,000	210,000	3,041,551	5.94%
Michael Wright	60,000	32,500	92,500	31,502	0.06%
Ravi Tara	47,500	30,000	77,500	11,225	0.02%
Iain McKenzie	47,500	27,500	75,000	4,989	0.01%
Nathan Imlach	70,000	20,000	90,000	122,380	0.24%
Simon Gibson	27,500	7,000	34,500	125,463	0.25%
George Houston	21,800	7,000	28,800	9,011	0.02%

The LTIP Awards will normally vest following the publication of the Group's audited results for the last financial year of the relevant performance period.  The Remuneration Committee have set minimum shareholding requirements for all members of the executive team, with the Tranche B awards considered to be a route to meet these requirements in the medium term, where relevant.

Following the recent AGM the Remuneration Committee has confirmed that Nominal Cost Options received after vesting under Tranche B are subject to a minimum two-year hold, commencing from the end of the performance period to 31 May 2025.  During this period, Nominal Cost Options may be exercised, but the Ordinary Shares acquired must be retained, meaning that all awards have a minimum five year retention period.

The executive directors and PDMRs hold 608,300 of unexercised LTIP Nominal Cost Options, of which 30,000 are capable of being exercised.

As a result of this grant, the total number of options in issue is 1,419,459, equivalent to 2.8 percent of the current issued share capital of the Company.

In addition, on 4 November 2022 Simon Gibson, Chief Investment Officer and PDMR, bought 2,232 Ordinary Shares.   His total interest in Ordinary Shares after this share purchase (including Ordinary Shares held by his spouse) is:

Name	Date of purchase	Number of shares purchased	Purchase price	Total shares held	Percentage of issued share capital held
Simon Gibson	4-Nov-2022	2,232	537.00p	125,463	0.25%

The above information is provided by the Company in accordance with its obligations under the FCA's Disclosure and Transparency Rules. 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

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

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	1.  Ian Mattioli 2.  Michael Wright 3.  Ravi Tara 4.  Iain McKenzie 5.  Nathan Imlach 6.  Simon Gibson 7.  George Houston
2	Reason for the notification
a)	Position/status	1.  PDMR, Chief Executive Officer 2.  PDMR, Group Managing Director 3.  PDMR, Chief Financial Officer 4.  PDMR, Chief Operating Officer 5.  PDMR, Chief Strategic Adviser 6.  PDMR, Chief Investment Officer 7.  PDMR, SMF 16 Compliance Oversight
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mattioli Woods plc
b)	LEI	2138003LAM79SNI63R97
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 ISIN: GB00B0MT3Y97
b)	Nature of the transaction	Issue of options over ordinary shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		1.  1p per ordinary share 2.  1p per ordinary share 3.  1p per ordinary share 4.  1p per ordinary share 5.  1p per ordinary share 6.  1p per ordinary share 7.    1p per ordinary share	1.  80,000 2.  32,500 3.  30,000 4.  27,500 5.  20,000 6.  7,000 7.   7,000
d)	Aggregated information - Aggregated volume - Price	N/a (Single transaction) 1.  £800.00 2.  £325.00 3.  £300.00 4.  £275.00 5.  £200.00 6.  £70.00 7.  £70.00
e)	Date of the transaction	1.  4 November 2022 2.   4 November 2022 3.   4 November 2022 4.   4 November 2022 5.   4 November 2022 6.  4 November 2022 7.  4 November 2022
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Simon Gibson
2	Reason for the notification
a)	Position/status	PDMR, Chief Investment Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mattioli Woods plc
b)	LEI	2138003LAM79SNI63R97
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 1 pence each ISIN: GB00B0MT3Y97
b)	Nature of the transaction	Acquisition of Shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		537.00p	2,232
d)	Aggregated information - Aggregated volume - Price	2,232 £11,985.84
e)	Date of the transaction	4 November 2022
f)	Place of the transaction	London Stock Exchange, AIM

- Ends -

For further information please contact:

Mattioli Woods plc
Ravi Tara, Chief Financial Officer		Tel: [phone]
		www.mattioliwoods.com
Canaccord Genuity Limited (Nominated Adviser and Joint Broker)
Emma Gabriel	Tel: [phone]
Thomas Diehl	www.canaccordgenuity.com
Singer Capital Markets (Joint Broker)
Justin McKeegan
Tom Salvesen	Tel: [phone]
Alaina Wong	www.singercm.com

 

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