Grant of Options

Mattioli Woods PLC

19 September 2023

 

19 September 2023

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")

Mattioli Woods (AIM: MTW.L), the specialist wealth and asset management business, announces the grant of 549,054 conditional share awards under the Mattioli Woods 2023 Long Term Incentive Plan ("the LTIP Awards") on 18 September 2023. 

The awards grant options to participating employees 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 2028 ("Tranche A"), or a three-year performance period ending on 31 May 2026 ("Tranche B").

Of the above grant, the Company has granted 281,254 awards of Nominal Cost Options under Tranche B to the Company's executive directors and other 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 the LTIP Awards	Interest in Nominal Cost Options following the LTIP Awards	Total Ordinary Shares held currently	Percentage of issued share capital held currently
Ian Mattioli	210,000	101,428	311,428	3,102,953	6.00%
Michael Wright	92,500	54,284	146,784	32,355	0.06%
Ravi Tara	77,500	50,109	127,609	14,641	0.03%
Iain McKenzie	75,000	45,933	120,933	5,655	0.01%
Nathan Imlach	90,000	22,500	112,500	122,853	0.24%
George Houston	28,800	7,000	35,800	9,154	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, subject to achievement of performance criteria.  The Remuneration Committee have set minimum shareholding requirements for all executive directors, with the Tranche B awards considered to be a route to meet these requirements in the medium term, where relevant.

The executive directors and PDMRs now collectively hold a total 855,054 of unexercised LTIP Nominal Cost Options, of which 52,500 have vested and are capable of being exercised.

As a result of this grant, the total number of options in issue is 1,918,929, equivalent to 3.7 percent of the current issued share capital of the Company.

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.   George Houston
2	Reason for the notification
a)	Position/status	1.   PDMR, Chief Executive Officer 2.   PDMR, Deputy Chief Executive Officer 3.   PDMR, Chief Financial Officer 4.   PDMR, Chief Operating Officer 5.   PDMR, Chief Strategic Adviser 6.   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)	Exercise 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	1.   101,428 2.   54,284 3.   50,109 4.   45,933 5.   22,500 6.   7,000
d)	Aggregated information - Aggregated volume - Price	N/a (Single transaction)
e)	Date of the transaction	1.   18 September 2023 2.   18 September 2023 3.   18 September 2023 4.   18 September 2023 5.   18 September 2023 6.   18 September 2023
f)	Place of the transaction	Outside of a trading venue

- 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]
Harry Pardoe	www.canaccordgenuity.com
Singer Capital Markets (Joint Broker)
Justin McKeegan
Tom Salvesen	Tel: [phone]
Alaina Wong	www.singercm.com

 

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