Grant of Options under 2023 LTIP

RNS Number : 2120Q

Staffline Group PLC

17 February 2023

 

17 February 2023

Staffline Group plc

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

Grant of Options under 2023 Long-Term Incentive Plan

Staffline, the recruitment and training group, announces that, under the terms of the Company's 2023 long term incentive plan (the " 2023 LTIP "), the Board has approved the award of and granted nil cost options (the " Options ") over 4,709,040 ordinary shares of 10 pence each in the Company (" Ordinary Shares ") to certain employees, including persons discharging managerial responsibilities (" PDMRs "), as set out below.

The Board believes it is key that the Group retains and incentivises Executive Directors and senior employees to drive the business forward, whilst aligning their interests with those of shareholders. The Group intends to continue to fully satisfy the exercise of options through purchases of Ordinary Shares by the Employee Benefits Trust in order to limit the level of dilution experienced by existing shareholders.

The vesting of the Options is subject to the satisfaction of the Company achieving certain financial performance criteria for the financial year ending 31 December 2025. For the Executive Directors and relevant central Group senior employees the financial performance criteria are based on the Group as a whole, with 50% of the Options awarded subject to achieving earnings per share hurdles and 50% subject to achieving underlying operating profit hurdles.  For senior employees operating within the divisions of the Group, their performance criteria are based 20% on the Group performance criteria, as above, and 80% on underlying operating profit hurdles relating to their own division.

The Options will vest from 14 February 2026 (the " Vesting Period ") and will be exercisable until 14 February 2033.

The Options awarded to PDMRs are set out in the table below.

Director/ PDMR	Position	Options granted
Albert Ellis	Chief Executive Officer	1,043,485
Daniel Quint	Chief Financial Officer	819,881
Martina McKenzie	MD Recruitment Ireland	327,952
Frank Atkinson	MD Recruitment GB	327,952
Kenny Boyle	MD PeoplePlus	269,052

Following the grant, the total number of Options over Ordinary Shares under the 2023 LTIP is 4,709,040 representing 2.84% of the Company's issued share capital.

For further information, please contact:

Staffline Group plc www.stafflinegroupplc.co.uk Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer	via Vigo Consulting
Liberum (Nominated Adviser and Broker) www.liberum.com Richard Lindley / William Hall / Lucas Bamber	020 3100 2222
Zeus (Joint Broker) www.zeuscapital.co.uk David Foreman (Investment Banking) Nick Searle (Sales)	020 3829 5000
Vigo Consulting (Financial PR) www.vigoconsulting.com Jeremy Garcia / Kate Kilgallen	020 7390 0230 [e-mail]

Market Abuse Regulation:

For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU) 2016/1055 and the UK version of such implementing regulation, the person responsible for arranging for the release of this Announcement on behalf of the Company is Daniel Quint, Chief Financial Officer.

About Staffline

Providing workforce solutions

Staffline is the UK's market leading Recruitment and Training group. It has three divisions:

Recruitment GB

Staffline is a leading provider of flexible blue-collar workers, supplying c.37,000 staff per day on average to around 450 client sites, across a wide range of industries including agriculture, supermarkets, drinks, driving, food processing, logistics and manufacturing.

Recruitment Ireland 

The Recruitment Ireland business is a leading end to end solutions provider operating across twenty industries, ten branch locations, fifteen onsite customer locations, supplying c.5,000 staff per day on average, and offering RPO, MSP, temporary and permanent solutions across the island of Ireland.

PeoplePlus Division

PeoplePlus is leading skills and employability business with a clear purpose to help people transform their lives, get jobs and keep jobs, and develop their careers. The division works with employers to develop workforces of the future, and with central, local and devolved governments to support their economic and social policy agendas.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Albert Ellis
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	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
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 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	1,043,485
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	14 February 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Daniel Quint
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	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
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 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	819,881
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	14 February 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Martina McKenzie
2	Reason for the notification
a)	Position/status	MD Recruitment Ireland
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
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 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of Options to purchase Ordinary Shares of 10 pence each under the Staffline Group
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	327,952
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	14 February 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Frank Atkinson
2	Reason for the notification
a)	Position/status	MD Recruitment GB
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
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 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	327,952
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	14 February 2023
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Kenny Boyle
2	Reason for the notification
a)	Position/status	MD - PeoplePlus
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Staffline Group plc
b)	LEI	213800BVLF1BCOJUH828
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 10 pence each ISIN: GB00B040L800
b)	Nature of the transaction	Grant of awards over Ordinary Shares under the Company's LTIP
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	269,052
d)	Aggregated information  - Aggregated volume  - Price	N/A
e)	Date of the transaction	14 February 2023
f)	Place of the transaction	Outside a trading venue

 

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