Award of Shares under Share Incentive Plan

B.P. Marsh & Partners PLC

12 April 2024

 

12 April 2024

B.P. Marsh & Partners Plc

("B.P. Marsh" or the "Company")

 Award of Shares under Share Incentive Plan

Director/PDMR Dealings

B.P. Marsh, the specialist investor in early stage financial services businesses, announces that on 11 April 2024 a total of 22,380 ordinary shares of 10 pence each in the Company ("Ordinary Shares") have been granted to eligible employees pursuant to a Share Incentive Plan (the "SIP") (as announced originally on 29 March 2016).

Under the SIP, Ordinary Shares are acquired in three ways:

·    Partnership Shares, where an employee can purchase up to £1,800 worth of shares;

·    Matching Shares, where B.P. Marsh can give up to two free Matching Shares for each Partnership Share bought; and

·    Free Shares, where the Company can give each eligible employee up to £3,600 worth of free shares in any tax year.

In accordance with the SIP's rules, a total of 12 eligible employees applied for the 2024-25 SIP awards and have each been granted 746 Ordinary Shares ("2024-25 Free Shares"), representing £3,595.72 at a price of £4.82 per Ordinary Share. Furthermore, all eligible employees have elected to take up the opportunity to acquire 373 Ordinary Shares ("2024-25 Partnership Shares"), equating to £1,797.86 at a price of £4.82 per Ordinary Share.  For every Partnership Share that an employee acquires, the SIP Trust has awarded two free Ordinary Shares ("2024-25 Matching Shares") equating to 746 Ordinary Shares to each participating employee. In aggregate, each eligible employee will hold an additional 1,865 Ordinary Shares under the SIP. The 2024-25 Free and Matching Shares are subject to a 1 year forfeiture period.

Certain Directors and other Persons Discharging Managerial Responsibilities ("PDMR") have participated in this award and further details of the Directors' and PDMRs' interests in Ordinary Shares (as at today's date, following the award of 2024-25 Free, Partnership and Matching Shares) are set out below:

Participating Directors & PDMR	Total number of Ordinary Shares held under SIP	Total number of Ordinary Shares held under JSOP*	Total number of Ordinary Shares held directly
Alice Foulk	25,809	117,614	23,428
Daniel Topping	26,396	167,465	139,760**
Jon Newman	34,516	117,614	19,645
Sinead O'Haire	34,516	117,614	24,695

* The Company's Joint Share Ownership Plan, details of which were announced on 12 June 2018

**Including 11,434 shares held by Mr Topping's spouse and 1,758 shares held by Mr. Topping's daughter

The awards were made by utilising the 22,380 unallocated Ordinary Shares in the B.P. Marsh SIP Trust which had been transferred from Treasury on 8 April 2024.

For further information:

B.P. Marsh & Partners Plc	www.bpmarsh.co.uk
Brian Marsh OBE	[phone]
Nominated Adviser & Broker Panmure Gordon
Atholl Tweedie / Amrit Mahbubani / Ailsa MacMaster	[phone]
Financial PR & Investor Relations
Tavistock	[e-mail]
Simon Hudson / Tim Pearson / Katie Hopkins	[phone]

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alice Foulk
2	Reason for notification
a)	Position / status	Managing Director (PDMR)
b)	Initial notification / amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	B.P. Marsh & Partners Plc
b)	LEI	2138008G8EPE3HAHEM13
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	Ordinary shares of 10 pence each
	Identification code	ISIN: GB00B0XLRJ79
b)	Nature of the transaction	Purchase and grant of ordinary shares pursuant to the Company's SIP
c)	Price(s) and volumes(s)	Price(s) Volume(s) (i)  482p 373 (ii) nil 1,492
d)	Aggregated information	N/A (single transactions)
e)	Date of the transaction	2024-04-11
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Daniel Topping
2	Reason for notification
a)	Position / status	Chief Investment Officer (PDMR)
b)	Initial notification / amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	B.P. Marsh & Partners Plc
b)	LEI	2138008G8EPE3HAHEM13
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	Ordinary shares of 10 pence each
	Identification code	ISIN: GB00B0XLRJ79
b)	Nature of the transaction	Purchase and grant of ordinary shares pursuant to the Company's SIP
c)	Price(s) and volumes(s)	Price(s) Volume(s) (i)  482p 373 (ii) nil 1,492
d)	Aggregated information	N/A (single transactions)
e)	Date of the transaction	2024-04-11
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jonathan Newman
2	Reason for notification
a)	Position / status	Group Finance Director (PDMR)
b)	Initial notification / amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	B.P. Marsh & Partners Plc
b)	LEI	2138008G8EPE3HAHEM13
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	Ordinary shares of 10 pence each
	Identification code	ISIN: GB00B0XLRJ79
b)	Nature of the transaction	Purchase and grant of ordinary shares pursuant to the Company's SIP
c)	Price(s) and volumes(s)	Price(s) Volume(s) (i)  482p 373 (ii) nil 1,492
d)	Aggregated information	N/A (single transactions)
e)	Date of the transaction	2024-04-11
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Sinead O'Haire
2	Reason for notification
a)	Position / status	Chief Legal Officer & Group Company Secretary (PDMR)
b)	Initial notification / amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	B.P. Marsh & Partners Plc
b)	LEI	2138008G8EPE3HAHEM13
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	Ordinary shares of 10 pence each
	Identification code	ISIN: GB00B0XLRJ79
b)	Nature of the transaction	Purchase and grant of ordinary shares pursuant to the Company's SIP
c)	Price(s) and volumes(s)	Price(s) Volume(s) (i)  482p 373 (ii) nil 1,492
d)	Aggregated information	N/A (single transactions)
e)	Date of the transaction	2024-04-11
f)	Place of the transaction	London Stock Exchange, AIM (XLON)

Notes to Editors:

B.P. Marsh's current portfolio contains fifteen companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk. 

Since formation over 30 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for over ten years. 

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